To expand my mobile money business

Boston Zulu

George Over Spill, Zambia

Funds disbursed

$0 to go

100% funded of $166 goal

0

days left

Entrepreneur

Name

Boston Zulu

Member since

July 2016

On-time repayments

35 installments  •  31%

About Me

I was born in 1992. I was raised by my mom. My dad died when I was eight years in 2000. I started school in 2002 at Muchinga Basic School, a government school, from grade one to grade seven, then from Muchinga Basic School I passed to grade eight. I went to Matero Boys Basic from grades eight to nine which was very difficult for my mom alone to pay my school fees .I used to sell fretas in town in order to help mom pay my school fees. I was going to school in the afternoon when I finished selling. It was really hard for to find studying time. By God's grace, I passed my grade nine exams. I went to Kafushi Secondary School where mom only managed to pay my grade 10 school fees. From grade 11 to grade 12, mom never paid anything.

I completed my secondary school without paying my grade 11 and 12 school fees which I then paid when I was working with a company called Care Telecom which was under MTN Mobile Money. We were working on commission (the more you sell, the more you get) and it was dependent on where you are being located after working with the company for one year. After some months, I finally managed to get my own booth and I am working for myself and helping mom to pay school fees for my two siblings. One is in grade 8 and one is in grade seven. I am so happy that I made it, but the problem is the money that I am using is not enough and I want to expand my business.

One thing that is most beautiful about our country is it is a peaceful country. I love my country and the majority, they are Christians.

My Business

MTN Mobile Money is a way of sending and receiving money and paying bills. It's very easy and fast, but first the customer has to open an account with MTN Mobile Money. That's when a customer can have access to the service. It is a good investment. It does not have loss but only profit. It works in two ways which we call a mobile use and a non mobile use. A mobile use is when a person who has an account with MTN Mobile Money sends to people who have accounts with MTN Money. A non mobile is when a person who does not have an account with MTN Money can only receive money but not pay any bills. This is how it works and when a customer wants to deposit money into his or her account he or she has to go to an MTN Mobile Money agent. When one of us is receiving or depositing money, there is a commission that we get in accord with the amount that has been deposited or received by a customer. It expands with the more transactions you make per day, the more you get. It's very much helpful to customers in terms of paying bills, sending and receiving. The challenges you find are when a customer comes to withdraw a huge amount of money, sometimes they find I don't. The most important thing is getting this loan.

Loan Proposal

I want to set up another booth for my mobile money business so that I can be making double profit. I am getting the loan because I want to buy the place where to set up the booth for my mobile money business. That is costing me $50 and about $100 add it on my capital which I will be using in the same booth. It will be helping a lot because it is a busy place where I want to set up my other booth.

Show original English  

About Me

I was born in 1992 I was leased by my mom and my dad died when I was (8)eight years in 2000 and I started school in 2002 at muchinga basic school a government from grade (1)one to grade seven (7) then from muchinga basic school I passed to grade (8) eight I went to matero boys basic from eight to nine which was very difficulty for mom alone to pay my school fees I use to sale fretas in town in order to help mom pay my school fees which I was going to school the afternoon when I finish selling I go to school it was really hard for to find studying time by GODS Grace I passed my grade nine exams I went to kafushi secondary school where mom only managed to pay my grade 10 school fees only from grade 11 to grade 12 mom never paid anything I completed my secondary school without paying my grade 11and 12 school fees which I paid when completed when I was working with a company called care telecom which was under mtn mobile momey where we were working on commission the more you sale the more you get and it was depending on were you are being located after working with the company for one year and some month I started think of getting my buth finally I managed to get my on buth and I am working for my self and helping mom to paying school fees for my two siblings one his grade 8and one seven am so happy that I made it but the problem is the money that am using its not enough and I want to expand my business and most beautiful about our country it is a peaceful country I love my country and majority they are Christians .

My Business

Mtn Mobile money is way the sending and receiving and paying bills it's very easy and fast .but the first a customer have to open an account with mtn mobile money that's wen a customer can have access to the service it is a good investment it does have loss but only profit and it works in two ways which we a mobile use and a non mobile .a mobile use is the person who has an account with mtn mobile money he /she send to people who have an accounts with mtn money and a non mobile is a person who does not have an account with mtn money he/she can only receive money but not paying any bills and this is how it works and when a customer wants to deposit money into his or her account he or she has to go to an mtn mobile money agent which is as now when one us receiving or depositing money their is a commission that we get according with the amount is been deposited or received by a customers it expands on the more transtions you make per day the more get and its very much helpful to customers in terms of paying bills ,sending and recieving the challenges are you find that when a customer comes to withdraw a huge amount of money sometimes they find I don't and most important thing am getting this loan.

Loan Proposal

I want to set up another buth for my mobile money business so that can be making double profit am getting the loan because I want to buy the place were to set up the buth for my mobile money business which is costing me
$50
and about
$100
add it on my capital which will be using in the same buth it will be helping a lot cause it is a busy place were I want to set up my another buth I will hire someone in the other buth cause the first buth which I have makes profit about $20 per day am sure the second booth can be making profit more than my first booth and if I manage to set up booth by june I want to start going to school as well as in the first booth a will also hire someone and those people which will hire I will be paying them
$80 per month.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$166.09

Date disbursed

Feb 25, 2017

Repayment status

Late

Projected term

3 months

Cost to entrepreneur

Service fee: $4.73

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