I was born in Nyeri in 1988, Went to Githakwa primary school and Kiriti secondary school in 2008 respectively. I later studied finance at the University of Nairobi and Proffessional Banking at the Kenya Institute of Bankers. My hobbies are swimming, listening to Gospel music and reading novels. I am 25 years old, I ventured into business in 2013. i am also currently employed as an accountant at Kiu Construction Company. I ventured into business due to the passion i had for it, my business has grown fast for the past years due to their strategic locations and improved customer relations. I came to like where i located the businesses due to high demand for money transfer services in the areas. I have a wife and one child who is currently one year old.
My businesses are located at Nairobi west at a place called Kahawa west and Maziwa stage opposite Jacaranda Gardens, Kahawa West is a 20 minutes drive from the Nairobi CBD. I operates M-Pesa agencies and a cooperative bank agency, I also deal in selling of phone accessories at my outlets, My business mostly targets the local people in the areas of Kahawa west and Maziwa stage where i operates the shops. I live at Githurai 44 uncle sams .The source of income for my business is now from the retained profits that the businesses generates, other times i inject some more capital from my savings and my salary from where i am currently working. My businesses has grown for the past two years an is well established, the competition is high but due to the strategic location of the business it has been able to attract many customers. i chose this kind of business since it is related to my career choice, as a banker and a financial specialist i would be comfortable in dealing with money related business. I use the business profits to grow my business, for family sustenance and saving. Both the businesses generates profits at average of KES 50,000 per month when i apply the e-float and cash totaling to KES 100,000 per month. the costs involved are labour of KES 6,000 and rent of KES 4,000.
The loan amount will be used to purchase phone accessories and addition to the Mpesa e-float.
The breakdown is as follows:
Phone covers = $5.06
Screen guards = $7.56
Earphones = $9.72
Universal chargers = $5.4
Common chargers = $5.4
Power banks = $8.64
Memory cards = $7.56
Flash discs = $5.4
USB cables = $5.4
safaricom Lines = $10.8
Safaricom Swaps = $5.4
Airtel and Orange lines = 10.8
Airtime for sale = $32.41
Mpesa e-float = $86.44
The M-pesa commissions paid to us relies on the float that is applied to the system. The float of $86.44 will create a profit of $$3.2 at the end of the month. The phone accessories acquired are given an average profit margin of 30% per item so the invested amount of $130.39 will generate a profit of $39.12. Some portion of realized profits will be retained to the business as some of it will go to the expansion of the business.