New equipments for production

Kenneth Abedi

Kissehman, Ghana

100% repaid

Entrepreneur

Name

Kenneth Abedi

Member since

May 2015

On-time repayments

35 installments  •  46%

About Me

It was very difficult growing up because dad left and responsibilities fell on my mum to rais my siblings and I. It got worst when mummy kicked the bucket and I had to provide for my siblings since I was the eldest. As soon as I completed senior high schooling I was employed as a tracher in a primary school. While in junior high school, I used to run errands for a shoe maker and market his slippers on commission basis. There were times I'd help him in the production of the slippers for extra cash and I kept doing that until I could produce the slippers from start to finish on my own. I knew how to work with beads since I was very young because mummy sold them so I added that as a design to the top of the slippers to further beautify and give it extra value. I produced just a few in the beginning for extra cash while still working my job at the school. Jael my eldest daughter won't stop talking about how she wants to market my slippers abroad when she's of age and make our company(currently working with my wife) an international one. I love football and I played a lot while growing up, I still enjoy football more than any other sports but I don't play as often as I used to.

My Business

I produce casual slippers covered with beads. These are usually in high demands because they are very light and easy to carry about. I left my job to produce and market these goods on full time basis (together with my wife) because they are always in demand and more so beacause the youth (15-35yrs)are the target market. These group of people buy more of our products so even though we produce for both the young and old, our focus is more on these group of people. We are able to meet high demands too because the leather and beads needed for production are all available on the local market and are very easy to get too. A slipper usally costs approximately $4.17 to produce and sold for not less than $8.4 With the profits we reinvest into growing the business as well as meeting domestic responsibilities.

Loan Proposal

This loan will help to acquire 2 major equipments ie: the leather trimmer which costs $50 and the designer marker which also costs about $70. The leather teimmer will help cut the designs faster and easier. It means doing more to increase productivity where as the designer marker is tool that helps in branding the inner of the slippers. By acquiring the designer marker it will be possible to give the slippers a brand name thus helping in exposing the company.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$94.25

Date disbursed

May 18, 2015

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Service fee: $2.41

Kenneth opted to pay $6.33 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

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