To buy additional rice cutter to reduced post harvest lost
Afriyie
Volta,kpando, Ghana
100% repaid
Entrepreneur
Name
Afriyie
Member since
September 2017
On-time repayments
28 installments • 39%
About Me
My name is Afriyie Paul Nyame,Born in Kpando. I attended my primary school and J.S.S at Jasico Demonstration in Jasikan.
I proceeded to Worawora Secondary School to study Business in 2006 and completed in 2009
After completion of my Senior Secondary School and Started teaching at Private School to raise money for my Business and hence further my Education. i started one acre of land cultivation in 2009 and now i grew it up to 30 acres
In 2011 I had admission to Study Bsc Accounting in University of Professional Studies, Accra and completed the program in 2015
My Business
Glory Nyame Investment is a business venture which is into cultivation of local rice to feed the mass populace of Ghana. The venture is opened to interested capitalist to support the firm with or without divided. The firm’s office is located in Kpando main market room number 19 on the first floor of the storey-building; and the farm itself is located on the Kpando Gbefi-Hohoe Road.
Glory Nyame Investment is a business venture with the primary aim of cultivating rice on a commercial base.
Glory Nyame Investment was established in June 2009 and registered at the Registrar General’s Department of the Republic of Ghana on 15th May, 2013. Its principal place of business is located at Kpando in the Volta Region of Ghana. Kpando is a very busy town which can boast of three (3) senior high schools within the central municipality.
Glory Nyame Investment has three (3) permanent staffs and three (2) casual workers.
An acre of rice yield 25 bags and a 90 kg is sold at $ 25. i cultivate 30 acres of rice.The total amount Income - Expenses
$ 18750 - 8075 = $ 10675
In the past i bought Rice Thrasher and Rice cutter to aid achieving my Goal and satisfy my customers with quality because the Ghanaian Economy is import driven. The local rice is a lucrative sector.
I supply rice to Restaurant, Government School feeding Program and Various supper Market
Analysis of 2019 budget
Harvestingꓽ Rice harvesting is the biggest constraint affecting the Agricultural sector within the Kpando Municipality. The amount spent to harvest one acre of rice is $ 60. Therefore, I anticipated to spend $ 2100. The proposed amount for acquiring the Mini combine harvester is $4500 - 2100 the balance is $ 2400
In 2018 within Kpando Municipality the total number of rice acres cultivated was 100 acres, the community includes Kudra, Gebfi, Azevi and kpando central but in 2019 the number of rice acreage cultivated are 150.
Assumption if the combine harvester is bought I would manage to harvest 90 acres out of the 150 acre cultivated
90 acres x $ 60 = $ 5400
The total amount earn from harvesting 90 acres is $ 5400
Add Net Profit from income statement $ 10675
Total Net Profit/Asset from 2019 transaction $16075
The amount the organization will realize from the use of mini combine harvester is $ 16075. This means after the seasons ( mini combine harvester) becomes Fixed Asset of the organization which would generate additional employment, also ease the hassle for harvesting rice within the municipality and reduce post-harvest lost
I humbly appeal for my LENDERS TO LOAN AN AMOUNT OF $ 2000 TO ADD UP AND BUY THE MINI COMBINE HARVESTER.
I made $ 225 per within a day, which i would be able to pay the loan back within three month because other asset generate income daily.
I used the income generated from the sale of my locally produce mill rice to finance the activity
In 2015 I was adjourned the BEST MUNICIPALITY RICE PRODUCER and I have been nominated for 2019 Regional Award which am working towards it
Loan Proposal
I bought my muilty purpose rice cutter with my previous loan. Which is used to weed weeds in maize, plough and use it to harvest rice as well. The acrage of rice farming is 200 acres within the municipality and am the only person that has it.
To create employment and increased my revenue base I purpose to buy additional one.
As I work towards buying mini combined harvester for the major season
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Loan Info
Project Type
Classic Loan
Disbursed amount
$299.00
Date disbursed
May 30, 2019
Repayment status
On Time
Projected term
4 weeks
Other loans
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