Transportation for university students

Gideon Amefu

New Weija, Ghana

100% repaid

Entrepreneur

Name

Gideon Amefu

Member since

August 2014

On-time repayments

299 installments  •  78%

About Me

My name is Gideon John Amefu. I come from a family of six, my parents inclusive. I live at New Weija a suburb of the Accra Metropolis. I am a student and I am currently at the Kwame Nkrumah University of Science and Technology pursuing a degree course in Civil Engineering.

I started a marketing business in order to lift some burden off my parents. I market products such as popcorn machines,hand-made crafted bead bags and purses, wooden bags and more via internet. The money I gain from the sale of these items are used to pay my school fees and my feeding. I also sometimes re-invest the money into other lucrative businesses to get my returns. As a young gentleman, I want to come out of the University prepared to affect my generation positively. I want to do this by training my fellow young ones the skills and appropriate way to marketing especially in Ghana and Africa- this will mean I should have a hands-on training in that regard. With the help of Zidisha and lenders I will promote my marketing plans.

I love to play table tennis, video games as well as football. At my free time I love to read my bible, search for more website where I can post my adverts and market more items online.

My Business

The business I do is online marketing of products. I mostly market products such as teaching aids to people online, door-to-door, through posters and advertisement. My Dad is a handicraft producer who mainly produces teaching aids in both wooden and digital forms. These teachings aids are a supplement to help teachers guide children in their formative stages. The teaching aids would help build their fundamental study of pronouncing words and how to communicate. There is a demand for these goods and services because there are a lot of schools encompassing my neighbourhood and these different schools need these teaching aids to help boost their level of communication to children. My business is much preferred because the teaching aids are sharp,real,easy to read and understand,quality,durable and very attractive and most of all very reasonable(in terms of cost). The business is profitable because there isn't much of a competiton and therefore we are able to supply to a large number of schools in the neighbourhood and make our profits. The main risks my business faces is that, should there be an error in the wording(digital form of teaching aids), it could be rejected and the cost of production is lost. However, this risk isn't so much of a problem because we have alternatives to remedy the situation whenever it occurs. I mostly make approximately 95usd every month. I believe through advertisement I can take over a greater number of schools in my country.

Loan Proposal

Currently I am in the Kwame Nkrumah University of Science and Technology,Kumasi, offering a 4-year course in BSc. Civil Engineering. The University is currently about to go on recess and most students from Accra would have to move both bags and baggage from Kumasi to Accra. When I am given an amount of 195USD, I would invest the money into the hiring of a transport vehicle to convey students from Kumasi to Accra at a much subsidized fee. It would be very stressful and tiring for students who have just completed a semester in school to carry their bags and baggage from one bus station to the other in search of a vehicle that would transport them to Accra safely. Looking at the cost of movement from one bus station to the other(which would consume money), I want to hire a 46-seater bus that would come over to campus and pick up students who would be heading towards Accra but at a much subsidized fee compared to the usual routine.
This is a one time business project which comes along with its returns but it would go along way to help students who are struggling with their finances. However, I would also organise buses for students every vacation to help cut down cost.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$206.33

Date disbursed

Dec 26, 2014

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Lender interest: $206.33 at 3.62% annual rate over 1 month = $0.90

Service fee: $0.51

Lenders

L

Leonora

TÄBY, Sweden

dmirpuri

Bangkok, Thailand

xtrahardware

Cazenovia, United States

mole333

Brooklyn, United States

T

thebonseung

Republic of Korea

R

roozbeh

United States

J

JacobvdW

Netherlands

A

Arkad

United States

T

tmarkus

Netherlands

Dave

Ede, Netherlands

Voscke

Utrecht, Netherlands

K

Kristiina

All Countries

KM

Kirsty M

United Kingdom

A

Aurelija

United Kingdom

Sherri Quinn

North Saint Paul, United States

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