Entrepreneur
Name
Mwenda
Member since
March 2016
On-time repayments
263 installments • 63%
About Me
My full name is Mwenda Kaluwaji aged 31 male based in Lusaka Zambia. I grew up in a huge family where we had to share every little we had. Completed my high school back in the year 2006 then went on to pursue a course in business management which has always been my passion. Well after College I got a job at Entrepreneurs Financial Centre (EFC Zambia) one of the leading micro-finance organisation in Zambia. I was hired as a Sales Representative. Unfortunately the job did not last as expected ,but since I had saved some money I decided to start a business from the experience I got interacting with entrepreneurs from different walks of life and backgrounds. I later decided to venture into a profit making business till to date.
The uniqueness of my country is that it has about 60 percent of water-bodies of southern Africa contained in Zambia.
I envision my children to grow up in a modern city so as to ease and increase opportunities for them to pursue careers that they will be passionate about and ultimately be relevant in society.
And lastly, my hobbies include but not limited to reading and travelling.
My Business
My business is growing by the day and i have just ventured into potato selling.
This type of business is on demand because of growing fast foods restaurants around.
Having gained experience in running businesses i have decided to diversify into potato selling because of low cost of running it and also having access to my daily profits will help me plan well for growth plus during winter sales for potatos go up hence taking up this business during the gold rush season.
My typical costs range from paying rent $50 for my shop monthly, i have only employee who helps me when i go out to do other errands and so salary lunch plus transport is costing to $100 then also ordering of poatoes costs every week $200
The previous loan has really helped me stabalise my savings. the loan im applying for will greatly help me boost my stock through profits to reinvest in the business for more growth, i will also manage to pay for my degree program which im starting next month and manage other expenses.
Loan Proposal
The next loan will greatly help me in meeting the targeted equipment,transport and stock as i embark on expanding my Eggs supply business especially with the help i got from the previous loan that has helped me establish my business.
With the loan acquired, i will be able to order 150 trays of eggs at $2 each = $300. materials to use when packing eggs will cost me $50 plus transport to get the first stock will cost me $35. the other $105 will be used as running costs.
It will highly benefit me in terms of expanding my business like opening another stand for my eggs to be sold and most importantly creating another stream of income that will help me meet by daily personal challenges i may face like helping family and saving.
For others it means more Eggs on the market to meet their needs as well as employment to my fellow youth who will help me run our daily errands and sales.
I expect my profit in this business to increase to about 25% as we start especially that the retail price is at $2.5 a tray. so with good business on the day or in a month an increase in profit is projected.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$586.00
Date disbursed
Sep 1, 2017
Repayment status
On Time
Projected term
15 months
Lenders
Tromso, Norway, Norway
Munich, Germany
United States
Sweden
Ask Mwenda a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.
BernadetteV Aug 14, 2017
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