Smart phones, mobile money and cards

Entrepreneur

About Me

My name is Godwin Bush I am graduate of the University Of Ghana, with a first class honous i must say going through school was one of the most challenging task for me; coming from a family that is not that sound financially meant i had to struggle to see my self through school and to the glory of God i was able to achieve that fet. The challenges of paying my own tution fees made me think outside the box and also rewired my thinking and gave me the desire to create my own business, that will give employment to many of my kind. In line with this goal i started my first business when i was in school, that is the sales of recharge cards to students since it was a need and also i started rendering mobile money services; with hardwork and discpline i was able to grow the business and gave employment to other student on the different part of campus. I love reading and solving people's need.

My Business

My business is buying mobile phone recharge cards from the wholesale and selling it to the end user. I also serve as a merchant for moblie money services for most of the telecommunications companies where people can come and withdraw or send money. I also sell mobile phones to most of the people who cannot afford to buy it outright and therefore i allow them to pay for it on instalment. There is high demand for the credit cards and also the phones, i make an average of about 4% profit on all the sales i make and i plough back the profit into the business since i want to expand it to become a bigger firm that will employ many. I chose this line of business because communication has become a part of society and also there is the gradual shift from the traditional way of send cash to using mobile money services since it is safer , faster and more convenient also the potential for success is huge, since there is demand for these services

Loan Proposal

My previous loan were all use to purchase mobile phones cards and electronic money to expand my business. Now with the advert of smart phones and the increasing penetration of Internet in africa there is a high demad for smart phones amongst th teaming youth population of mu country; albeit there is only one challenge the high cost of aquiring one. This has denied many of the populace access to this devices that has become an integral part of the century. Now I have made contact with one of the telecommunications companies who is spearheading a drive for the usuage of smart phones. They have agreed to give me the phones at a cheaper rate so I also sell to the people at very affordable rate. So if I am giving this loan by the benevolence of the lenders, I will purchase more of the phones so I can sell at affordable rate . Also I will use part of it to purchase more of the phone cards and also th electronic money. With this I hope to make a profit margin of about 6% and also helping put a smile of thr faces of those who are eager to join the world of smart phones users.

Feedback

Loan Info

Lenders