Purchase of Stock for Food Business

Edem Koku Addo

Accra, Ghana

100% repaid

Entrepreneur

Name

Edem Koku Addo

Member since

August 2015

On-time repayments

49 installments  •  80%

About Me

My name is Edem Koku Addo and I was born to the Addo family in 1986 here in Accra. I attended Mamprobi JHS after which I went through a three-year auto mechanic course. On completion, I worked with IPMC (an IT company in Accra) as the driver to the Microsoft finance manager for four or five years later with the driver’s license number Addo-221086-01-01. From then, I decided to drive a commercial bus using the Aflao - Accra Road. Having a great passion for business, I decided to start buying local foodstuffs like tomatoes, peppers, etc. from the Volta region to be distributed to the local chop bars here in Accra.

My Business

At the moment, I am driving a commercial bus with registration number GG-3029-14 using the Aflao -Accra route. Whenever I travel, I make sure that I buy local foodstuff like tomatoes, peppers, etc. to supply to the local restaurants here in Accra (usually called chop bars). My supply is usually useful as my products are always fresh from the farm. I chose this foodstuff supply to help the restaurants have access to farm products and also to make profits as they are cheaper in the Volta region at the moment. The business can generate up to 18% of profits which helps me foot my siblings’ school fees and I reinvest the remaining profits in the business.

Loan Proposal

with GHS 550 which is about ($130) I will purchase more baskets of tomatoes and peppers and the big baskets of tomatoes cost about eighty Ghana Cedis (GHS 80) or ( $18) depending on the season as is a seasonal goods and then ten Ghana Cedis (GHS10) is used to convey each basket but as the size of my stock will be increased i can use my bus to bring them and i am looking forward to about 20% increase in profit which will help me assist my junior brother in his academic but with the pepper the baskets cost a bit higher than the tomatoes and it goes for about one hundred and fifty Ghana cedis ( GHS150) or ($33) also depending on the season and by the grace of God i hope in the near future I can raise more money to go into farming whereby employing people .

Show original English  

About Me

MY NAME IS EDEM KOKU ADDO BORN TO THE FAMILY ADDO FAMILY IN 1986 HERE IN ACCRA AND ATTENDED MAMPROBI JHS AND AFTER WHICH I WENT THROUGH A THREE YEAR AUTO MECHANIC CAUSE AND ON COMPLETION I WORKED WITH IPMC( AN I T COMPANY IN ACCRA ) AS THEIR THE DRIVER TO THE MICROSOFT FINANCE MANAGER FOR FOUR FIVE YEARS AND LATER WITH THE DRIVERS LICENCE NUMBER ADDO-221086-01-01 AND FROM FROM THEN I DECIDED TO DRIVE COMMERCIAL BUS USING AFLAO - ACCRA ROAD AND HAVING GREAT PASSION FOR BUSINESS I DECIDED TO START BUYING LOCAL FOODSTUFF LIKE TOMATOES , PEPPER ETC FROM VOLTA REGION TO BE DISTRIBUTED TO THE LOCAL CHOP BARS HERE IN ACCRA.

My Business

AT THE MOMENT AM DRIVING A COMMERCIAL BUS WITH REGISTRATION NUMBER GG-3029-14 USING AFLAO -ACCRA ROUTE AND WHENEVER I TRAVEL I MAKE SURE THAT I BUY LOCAL FOODSTUFF LIKE TOMATOES , PEPPER ETC TO SUPPLY TO THE LOCAL RESTAURANTS HERE IN ACCRA USUALLY CALLED CHOP BARS AND MY SUPPLY IS USUALLY USEFUL AS MY PRODUCTS ARE ALWAYS FRESH FROM THE FARM. I CHOOSED THIS FOOD STUFF SUPPLY TO HELP THE RESTAURANTS HAVE ACCESS TO FARM PRODUCTS AND ALSO MAKE PROFITS AS THEY ARE CHEAPER IN VOLTA REGION AT THE MOMENT THE BUSINESS CAN GENERATE UP TO 18% OF PROFITS WHICH HELPS FOOT MY SIBLING SCHOOL FEES AND RE INVEST THE REMAINING .

Loan Proposal

with GHS 550 which is about ($130) I will purchase more baskets of tomatoes and peppers and the big baskets of tomatoes cost about eighty Ghana Cedis (GHS 80) or ( $18) depending on the season as is a seasonal goods and then ten Ghana Cedis (GHS10) is used to convey each basket but as the size of my stock will be increased i can use my bus to bring them and i am looking forward to about 20% increase in profit which will help me assist my junior brother in his academic but with the pepper the baskets cost a bit higher than the tomatoes and it goes for about one hundred and fifty Ghana cedis ( GHS150) or ($33) also depending on the season and by the grace of God i hope in the near future I can raise more money to go into farming whereby employing people .

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$137.75

Date disbursed

Sep 7, 2015

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Service fee: $3.55

Edem opted to pay $31.65 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

Lenders

C

chrisherron

Chicago, United States

indeh

London, United Kingdom

D

davide

Vallentuna, Sweden

stanbogdanov

Sofia, Bulgaria

Paul Buchheit

Mountain View, United States

B

bugdaniel

Switzerland

N

Nicole

Pittsburgh, United States

Frank Termathe

Frankfurt Main, Germany

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