Collins
Bonwire Ashanti, Ghana
100% repaid
Name
Collins
Member since
June 2015
On-time repayments
149 installments • 86%
I was born at Bonwire in Ashanti region where l started my basic education. l gained admission into Kumasi Anglican High School (KASS). l was single parented by my mother from 1999 after my father passed away. This brought a bigger financial constraint so l have to weave kente cloth and sell to support my mother to take care of my education; and this continued during my undergraduate studies. currently l weave, buy and sell kente cloth concurrently with my studies in M.Phil Environmental Science at the University of Cape Coast, Ghana. one funny thing about my hometown is that kente weaving is a traditional occupation, nobody teaches you, once you are a native and born in the town, you become an automatic weaver.
l will use the loan to boost the production and sale of my kente cloth. l have chosen to sell kente cloth because it is locally made but have domestic and international attraction. In Ghana people use kente for every major occasion that requires colourful designs. The cost of production is determined by many factors such as the cloth being men or women size, the category of the designs employed in the cloth and their complications. this time the the loan can help me produce the first class cloth natively called "edwene si edwene so" (art on art). l will use the profit to stipend myself as an M.Phil. Student.
l will use the money to buy the yarns (cotton and rayon) for weaving the kente cloth. $55 can purchase the yarns for one set of cloth excluding the workmanship, thus buying 25cones of the yarns of which 15 are cotton for $30 and 10 are rayon for $25. l will get $10 profit after selling one cloth and l will be gathering the profit to further my education
Positive
4
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Jul 14, 2015
Repayment status
On Time
Projected term
7 weeks
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nicole Jun 4, 2018
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