To buy fertilizer and insecticides for my cocoa farm
Amadu
Berekum, Ghana
100% repaid
Entrepreneur
Name
Amadu
Member since
July 2015
On-time repayments
45 installments • 53%
About Me
My name is Nsiah Amadu who comes from kasapin in the Brong Ahafo Region of Ghana. I was born on 12th July,1978 at kasapin. Am black in complexion and my height is about 5 feet tall. I completed my junior secondary school education in 1994 and continue to Berekum secondary school in the year 1994 and finished in 1997. I further to Sunyani polytechnic to pursue Diploma in business studies accounting and completed in the year 2000. Am the second born of my parents and I have 3 siblings. I lost my father when I was 10 years and my mother also passed on when I was 15 years. Life was so difficult I had to go and leave with my uncle who took care of my education. After completing school I decided to go into farming since I was having the passion to become one of the best cocoa farmers in my area. My parent left me a farm land of about 30 acres. As am speaking now am able to cultivate 10 acres of the land into cocoa farm. I am married with 3 kids of whom 1 boy and 2 girls and they in school. Now it is my ambition to expand my farm but I do not have the facilities to do so that is why am seeking your financial assistance.
My Business
My farm is located in kasapin in the Brong Ahafo Region of Ghana. It is a 10 acre land of cocoa farm. Cocoa is a cash crop and it is very hot commodity in the market in terms of sales. Cocoa is use to produce variety of items example, chocolate, Milo, pomade and others. Now I want to expand my farm to include vegetables which will enable me to increase my income. And with the vegetables these food vendors need them for the preparation of their food . It is an income yielding venture.Prices of equipments, insecticides and fertilizer have increase thereby making it difficult for me to buy. This is a major challenge for me so I think if I get financial support it will enable me to increase my produce. Currently my yearly income is around 9000 GHS and my expense is about 7000 GHS. So am able to make a savings of about 2000 GHS at end of every year. I use this savings cater for wards school fees and other miscellaneous expenses.
Loan Proposal
I will buy fertilizer and insecticides and this will cost about 300 dollars. This will enable me to increase my farm yields thereby improving the standard of living of my family. Am expecting my profit to increase by 25 percent.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$233.00
Date disbursed
Sep 30, 2015
Repayment status
On Time
Projected term
3 months
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