Funding for my M-Pesa money-transfer business & my clothing business

Henry

Mombasa, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Henry

Member since

July 2014

On-time repayments

268 installments • 81%

About Me

My name is Henry Muya, born in Nakuru County in the Rift Valley region of Kenya. I was born in a family of nine where I am the fourth born. My parent are small scale farmers in Nakuru. I went to local schools for my primary and secondary education and then enrolled in a college where I got training in computer applications and Business management. I have done a course in Accounting here in Mombasa.

After my college education, I was employed to work in a micro-finance in Mombasa where I worked for three years. I later quit my job due to strong desire to start my own business. I started small by starting an mobile phone accessories shop which later expanded to include mobile money transfer which is very popular here in Kenya.

I am married to one wife.

My Business

My business entails sale of cloths and mobile phone accessories and mobile money transfer popularly known as Mpesa. The business is located in Mombasa in an area which is densely populated. I get my stock mostly from Nairobi but I am hoping to start traveling abroad to get them from the source market. My products range from phone chargers, batteries, earphones etc. All these products are very popular with the masses and I am always assured of a steady flow of clients.
On the cloths business i mostly deal with men's shirts and trousers which move so much because of the location of my business
The business is quite profitable and I usually make a net monthly profit of about $400. This business two businesses has potential to yield much more if given much needed capital. I have a strong desire to expand my business but this is only possible if I can access credit facility hence my decision to continue with Zidisha.

Loan Proposal

My Previous loan i increased the stock for my phones ,this time around i want to boost the other one for money transfer business which is known as M-pesa. This is a very popular money transfer service and almost everybody in Kenya uses it for all kind of money transactions. I am an agent where I serve people from my small outlet here in town. The agents are required to deposit some money with the service provider (float) and customers can withdraw this money from the agent. Once the amount is depleted, the agent needs to deposit more money to continue with the business.
From the above arrangement, the more deposit you have the more clients you can serve. I am anticipating a rise in money transfer as we head to this festive season and getting this money at this time will be timely.
Thank you so much as you consider funding my application.