It is said that a man only needs two pairs of shoes, a pair of decent black shoes and a pair of Chuck Taylors.
There’s a famous quote by the renown actress Marilyn Monroe that says “Give a girl the right shoes and she can conquer the world.”
I was in Kawangware, Nairobi last week where I met Margaret Kalumu Mwinzi. Maragret is one of our MYC4’s borrowers through our provider Premier Kenya. Margaret runs a small shoe business of women, men’s and children’s shoes. Margaret is able to earn herself a good weekly income to help take care of her family’s needs.
I noticed that Margaret sells more than just a few pairs of Chuck Taylors so there might be some truth to the saying that men do need a pair in their closet. Chuck Taylors are considered unisex, so this applies to women as well. When it comes to women needing to own a pair, famous French designer Christian Louboutin known for his high-heeled, red bottom shoe design, would disagree , but that is a story for another day.
Margaret started the business with her personal savings. She buys her shoes from Gikomba market in Nairobi. When she started out the business, she mainly sold children shoes. However, she has now diversified her stock and included men and women’s shoes. She says that during the festive season, which was two months ago in December, she made sure to have a large stock of women’s shoes as women tend to spend more during this time.
How did you hear about MYC4?
I heard about MYC4 in 2014 through the Premier Kenya, loan officer who came to explain how MYC4 works,
How has the MYC4 loan helped you?
The loan I received from MYC4 has really helped improve my life. It has enabled me to buy more stock, I increased my stock in number as well as variety. The funds helped me to add men and women’s shoes to my stock that was mostly children’s shoes. This has really been a positive step towards growing my business.
In my personal life, as a single mother, it has enabled me to educate my children. One of my children recently finished secondary school and I look forward to them joining university this year. The funds have also directly and directly contributed to my living expenses helping me to provide for myself and my dependants.
What problem were you facing that MYC4 have helped you to solve since you received the funds?
One problem I was facing was the lack of available capital to increase my stock, with the difficulty of acquiring capital within a reasonable duration, I could not meet my customers demand. However, since I received my funds I have been able to fulfill my customer demands.
Have the funds you borrowed increased your profits or income, and have you employed anyone?
Since I received the funds my business has become more fulfilling and satisfying. The funds have allowed me increase my stock hence increasing my sales and profits. I have a few people I employ on a temporary basis to clean the shoes as well as help me transport them.
What did you like about MYC4? What is the experience of working with MYC4?
The one thing I have liked in the short time I have worked with MYC4, is that the funds were received within my preferred time-frame and I did not have to wait for an overextended period. Additionally the interest rate is fair and the duration given to make repayments is reasonable.
What would you like people to know about MYC4?
I would like to let people know that MYC4 is a vehicle that helps many men and women to boost their small businesses, so far I have been able to grow my business since I started getting loans from MYC4. No one is too poor to achieve their dreams through financial freedom.
Would you recommend MYC4 to your friends or family?
Definitely. I know of some men and women with their business here and inside the neighbouring Kawangware market that are already benefiting from MYC4 loans and I would recommend it to those who are yet to.
Would you consider taking a second loan once you clear this loan?
I certainly would. I would like to grow my business even more and possibly even open a few more shops and eventually hire people to do the sales as well as running the business. You know, I do not have to just sit here and sell these shoes, I could be the one calling the shots while I have hired people to sell my goods for me.
Do you have any additional comments?
I would like to thank MYC4 for the opportunity they give business people such as myself. MYC4 empowers us to grow and develop as people as well as business people and we urge you to continue supporting entrepreneurs.