Wallafixa
Kibichoi, Kenya
100% repaid
Name
Wallafixa
Member since
April 2014
On-time repayments
113 installments • 27%
I am Wallace Ngugi, an agribusiness entrepreneur and a banker by profession , aged 30 years. I have a Bachelor of Economics degree from Kenyatta University. I am married with a 7 months son. I started my agribusiness journey as a first year using my first student loan in my rural village Gume, Kibichoi sub-location, Githunguri constituency, Kiambu County, Kenya. Growing up, financial constraints persisted but with the exposure I was getting in economics, I decided to do agribusiness as part of the solution to this challenge. I had a passion in farming. I ventured in horticulture farming as the main activity after analyzing the current trends of growing urbanization in my locality and associated accruing benefits from the growing food demand. Moreover, demand of fresh produce from the farm. Farming was my optimal venture because of availability of land and water in my locality, favorable climate, and labor availability as it is highly populated. The income generated goes towards supporting my family, invest in expansion of my portfolio, save for further education among many others. I have a vision to be an exporter of fresh farm produce. In my free time I like engaging in outdoor activities.
In my portfolio I grow colored capsicum, chili, spinach and kale. There being a high population in my locality the demand for vegetables is inevitable. Kibichoi is also centrally located within Nairobi Metropolis. Other towns providing ready market are Thika, Ruiru and Kiambu. I sell my colored capsicum in Nairobi city park market highly demanded by the Asian community living around there. Chili is my latest entrant targeting the exporters. I sell spinach and Kale to the local community as customers have a great preference for fresh produce. I harvest them on order. There has always been a constant flow of loyal customers on daily basis with little surplus that I take to a local market. I grow my crops under irrigation in open field, for chili, spinach and kale, and a greenhouse, for pepper, so am able to take advantage of the dry season. The main risk to my business water shortage. For pest and disease I avert by integrated pest management strategies. I also seek information from partners in agronomic support.
The introduction of chili saw my water use increase in great volumes. I pump from a well whose capacity have gone down and it is no longer sustainable. I decided to invest in pumping water from nearby river passing through our farm down he ridge. The whole project has a budget of $1200.00. I have managed to finance 80% from my savings and. I seek to request a loan of $150 dollars to cater for labor and digging a trench to lay the pipes and electric cables.
the below highlights my current expenses and revenues:
TOTAL MONTHLY EXPENSES
Amounts ( $)
1 Labor -40
2 Electricity -30
3 Capacity building -10
4 Pest and Disease management -60
Total: 140
TOTAL MONTHLY SALES
Amounts($)
1 Pepper: 300kg @ $0.80 -240
2 Kale 200KG @ $0.30 -60
3 Spinach 200KG @ $0.40 -80
Total: 380
Total profit= $240
I plan to expand my shade net house to house 500 extra plants of capsicum. I project extra production of about 2000kg of capsicum as each plant on good management can produce 4kgs of fruits. The increased production will fetch more sale revenue and consequently higher profit. The profits are instrumental in expanding my business, improve my livelihood as well as that of my family. Capsicum takes about 105 days to harvest mature ripe fruits from the time of nursery establishment. A loan advanced to me by zidisha lenders will be instrumental as I plan to buy 150 meter-square of 50% shade net. The net costs $1 per meter-square thus request zidisha lenders for a loan of $150 to help me purchase the net. The size of the structure will be 20m by 10m by 2m. Other construction materials and costs that approximate $180 will be financed by my savings of $200.
Jan 18, 2021: Young and farming
Positive
3
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Jul 7, 2014
Repayment status
On Time
Projected term
3 months
Other loans
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