Business: Motorbike spare parts & MPESA Agency.
Location: Kitale Town.
Years in Operation: 8 Years.
Amount needed: $2500.
With the upsurge of motorbikes in pretty much all towns in Kenya, many people young and old alike have ventured into the motorbike transport business popularly known as boda-boda operators ferrying both passengers and goods from one point to another. Many young people especially, have gained employment in the motorbike transport sector which is also a preferred mode of transport for many people.
This phenomenon has in turn led to a very heightened demand for motorcycle spare parts due to wear and tear. Thus Lucy’s business was set up to fill this gap. In addition, the business is very competitive due to how lucrative it is and many entrepreneurs have ventured into it to reap its high profits. Lucy makes sure her stock is made up of very good quality parts to ensure that her customers get value for their money.
For the last seven years,earnings from the spare parts business combined with those from her mobile money transfer agency(MPESA Agency) have enabled her to provide for the tuition fees of her school going child as well as provide for all of her family’s basic needs, besides keeping all of her boda-boda operating customers in business.
Her first loan from Moto Hope Micro Lending of $100 in early 2018 enabled her to expand her business to serve more customers and this saw her profits double and her business scale upwards immensely. She has in turn been able to save some of her profits and now seeks $250 development loan from Moto Hope Micro lending to top up these savings, purchase a plot of land on which she intends to build a house which will provide her family a comfortable home.