As a teacher, 44-year-old ZOLEKA MANDLANA appreciates the value of education. However, as one of only a few breadwinners in her immediate and extended family, she knows that paying for education can be a struggle. Over the years she has turned to Bayport to help her finance the university fees of several family member – her way of securing the futures of those close to her.
HELENA SERFONTEIN, a 42-year-old business owner, came to Bayport in 2007, seeking financial assistance for home improvements she wanted to make. Since that first small loan, Helena has taken out five more Bayport loans. Besides improving her home, she has used the money to obtain a university degree.
SIPHIWE NGUBANE is a 51-year-old health worker. He took out his first loan with Bayport in May 2007 as his house needed to be extended to accommodate his growing family. Since then, Siphiwe has taken out a further eight loans with Bayport to improve his home. His projects were all planned and he never borrowed more money than he needed.
“I subscribed to the Bayport vehicle lease product six months ago after a colleague driver testified to me about the benefits of the product.
Having worked for several transport owners for years, it was a dream to own a taxi and thankfully, this dream will soon be realized through this product as I hope to go through the lease contract successfully to own the taxi two years from now.
In addition to the opportunity to be the proud owner of a taxi, am also happy that I now have a permanent job as I need not worry about the possibility of my taxi being disposed of. I can now plan my life with confidence.
I will encourage other drivers to subscribe to this product to enable them secure their future.”
Mrs Matilda Oduro is an informal trader in Techiman, a major commercial town in Ghana and home to one of the largest open-air markets in Africa. She sells African wax prints and Kente, the traditional wear that plays a central role in Ghanaian ceremonies such as festivals, weddings and funerals.
After three decades as a petty trader – she learned from her grandmother – Matilda’s business took flight when she entered into a relationship with Bayport in 2013.
She used her first loan to buy inventory and two subsequent loans to further expand her business. Not only does she now lease the building next door to her original shop, Matilda has also completed the house she started building several years ago and she can afford to send her oldest son to university.
In addition to credit, Bayport supplies Matilda with a high-earning savings account that puts her business income to work. Unlike conventional commercial bank savings accounts, Bayport offers field cash collection on these accounts at no cost to customers.
It is not surprising that Matilda sees Bayport as a valuable business partner. “None of the other banks could ever give me the critical services I wanted, particularly field cash collection and loans to support my business,” she says. “I get more than what I want from Bayport. The staff are friendly and I feel at home. I feel part of Bayport and am here to stay.”
A lack of money almost cost Foster Boamah his childhood sweetheart. Unable to get the money together to pay for their wedding, Foster turned to Bayport Ghana. With the loan he secured the ceremony went ahead and Vivian became his wife.
A year later, the couple discovered that Vivian needed to undergo an operation before they could start a family. Again Bayport Ghana came to the rescue and 18 months later their child Derrick Gyamenah was born.
Foster’s third loan helped his niece, Caroline, to finish senior high school.
Oliper Kadege lives in a small village in Tanzania. She has been a teacher for more than 30 years and has raised five children on her own. This strong woman runs several businesses, which were all started with Bayport loans. Through her partnership with Bayport Financial Services, she has secured financial wellness for herself and her family.
Oliper took out her first Bayport loan in May 2006. Her first venture was a charcoal business. Thanks to a Bayport loan top-up, she received second funding, which she used to start a poultry and fish business. She sources her fish from the Dar es Salaam fish market, which is 20 km from her village and sells it at home as a fried delicacy.
Her most recent loan top up was in 2012 when she purchased a photo copying machine to make copies of exam papers for the schools in her village.
The extra income from her businesses is currently paying for her twin daughters’ university education and her three-room home. “Life is not easy for a single parent, but when I see how proud my children are of me, I am filled with joy”, says Oliper.
Oliper’s inspiring story was broadcast on the CNBC Africa television channel in October 2012.
Reuben Chongo is a teacher in Chingola and has a wife and six children. He was offered a house by the Ministry of Education that would suit his large family, but he did not have the necessary money to buy the property.
He applied for several loans from other banks but was turned down. He was disheartened at the thought that he would lose the home to another buyer. He remembered hearing about Bayport Financial Services and applied for a home loan and was delighted when his loan was approved.
“Thanks to Bayport, I was able to purchase the house and my family has a roof over their heads”, Reuben said.
Michael Twum Bosompem lives in Akim Oda, in Ghana, and is a teacher. By securing a few small Bayport loans he has greatly improved his life and that of his family.
The first loan paid for his son’s medical bills when he needed an operation, and the second loan helped pay for the school fees of his two sons. Michael used his third loan wisely by using it to buy a piece of land to grow vegetables and other crops. He also used part of this loan to help bring a cocoa farm, which he had inherited, back to life. His farming activities provide an extra source of income that helps to support his family.
As the eldest child, it is Michael’s responsibility to look after his mother. When his mother fell ill he once again secured a loan to pay for her doctor’s bills – the help she received from the medical attention saved her life.
As a dedicated teacher Michael was keen to better his education and, with another loan, he was able to pay the entry fees to become a distance learner at the University of Cape Coast.
“If it wasn’t for Bayport I would not be leading the fulfilling life I have today”, Michael says.
Magdalena Lwiza is a full-time instructor at the Mlingano Agricultural Training Institute in Tanga, Tanzania. This small, kind woman has an iron will and a burning ambition to succeed.
With a loan from Bayport Financial Services Tanzania, she started a secretarial office in her community with a single computer, printer and photocopier. She employed Mwemezi Ishengoma to run the business so she could continue her fulltime job. When the office started to make a profit, she applied for an additional loan to purchase another photo copier and a large printer. She also purchased a deep freeze, from which she sells ice cream and water.
Magdalena also realised there was a need in the community for cell phone vouchers and started selling them at her office. “The loans I have received have done wonders in my life,” says Magdalena.
Annette Nabuduwa was a health worker at the Bushokori Health Centre in Uganda’s Mbale district. She supplemented her salary by working extra shifts after hours at the centre. The additional income helped her to support her husband and son but she was dreaming about something far bigger – serving her community through her own business.
Working at the health centre opened Annette’s eyes to the fact that people in her district had to travel long distances to get medicine. She realised that opening a local pharmacy would fulfill her dream and she applied to Bayport for a small business loan.
Over the years Annette’s pharmacy has grown to the point where she works in it full time. She also had to employ an assistant to help her in the busy shop in the Nampanga trading centre.
Teaching is Joseph Mwale’s passion. As a maths teacher at Mulilantambo Basic School in Luanshya, Zambia, he had a dream of opening a private school to help ease the over-crowding in government schools.
Bayport Financial Services Zambia helped to make his dream come true by approving a loan application to produce a promotional fundraising video for his private school idea. The video inspired the Luanshya Community to raise the necessary capital to build the Jomwa Junior Secondary School.
Today, the school has more than 270 students. Joseph is a part-time teacher there. Not only has he achieved his dream but he also earns additional money to support his wife, their four children and his parents.
Binguri David Laar is a technical teacher in the upper eastern region of Bongo in Ghana. His meagre teacher’s salary was barely sufficient to support his wife and daughter and they were struggling to survive. Binguri’s wife owns and runs a small trading store, but without the necessary financial resources, the shop was unable to expand.
Hope arrived in the form of Bayport Financial Services. Binguri applied for and was granted a loan, and with the money, he bought a tract of land on which he eventually hopes to build a home. With a second loan, the Laar’s were able to expand the trading store, which brought in a valuable source of income.
“My wife is now the breadwinner of the family and we have hope for the future,” says Binguri.
As a little girl, Hellen used to sit on a rock, resting her chin on her skinny, drawn-up knees, gazing at the cattle in the field. At night, when the family had supper together, she was often teased about her ambition to be a cattle farmer. Imagine, a slightly built little girl wanting to do a big man’s job!
Helen studied to become a primary school teacher, but her dream of being a cattle farmer was always at the back of her mind. One day, Hellen mustered the courage to apply for an agricultural loan, which was granted by Bayport Financial Services.
Today, this proud cattle farmer and astute business woman buys and sells four cows at a time, and the stock from her herd has enabled other members of the community to start their own dairy farming projects.
“I am happy to be able to provide employment to a cattle keeper and other members of my community,” says Hellen.
Adam Puliisi Wandera lives in the Butaleja district in eastern Uganda. His teacher’s salary could not make ends meet for his wife and seven children and Adam started thinking about how to earn extra money.
Since he already owned a piece of land, Adam decided to grow rice because there was a demand for it in his area. Bayport granted him an agricultural loan and within the first year Adam harvested 200kg of rice. With his profits, Adam could pay his children’s school fees and buy many household necessities.
With the future in mind, Adam wisely invested half of his rice income in preparations for the next growing season. Given his full-time job as a teacher, Adam hired two people from his community to work in his fields.
“I am happy that my success is also benefitting my community,” says Adam with a proud smile.
Joyce Chigulu is a policewoman in Chingola. She lives on a farm with her husband and five children. In her line of work, she meets many orphaned street children who are starving and homeless. Joyce was very upset by the condition these children were living in and was determined to do something about it and make a change in their lives. She came to Bayport Financial Services with an idea to build a school for these orphaned street children and was granted a small business loan to help her start her dream.
Today, the school has 50 pupils that are aged between six and 15. They receive lessons in English, Mathematics, Science, and Environmental Science. There are two full-time employees, one of which is Joyce’s 22-year-old son, Tulani. Joyce pays the salaries of her employees from her police salary and relies on the local community for donations to help keep the school running.
Douglas Ayisi, a teacher from Mamfe in the north eastern district of Akwapin, needed a lucrative venture to improve his monthly income, yet would not interfere his work as a teacher. He decided to offer hostel accommodation to students from Accra Poly Technic. He had some money saved and used this to start renovations.
Midway through the project, he urgently needed more finance and applied for assistance from Bayport Financial Services. His loan was approved, and he was able to complete the renovations and rent out the rooms to students.
The success of Douglas’s hostel has enabled him to pursue his dream of furthering his education and to ensure the well-being of his wife, Emma, and his three children Eugenia, Reginald and Catherine.
“I secured admission to the Methodist University College to study information technology,” he proudly states. “I am grateful to those who believed in me as I have believed in myself.”
Samson Cheyo always knew great things were waiting for him and when his Bayport Financial Services loan was approved, he was able to realise his dream of opening a shop; stocking mainly agricultural and construction equipment.
He soon realised that in order to run his business more effectively he need reliable transport, and with another loan, he bought a bright yellow motorbike. Being able to move about freely has made it possible for Samson to grow his business, and this has reawakened his entrepreneurial spirit.
“When my loan repayments are concluded next year, I plan to apply for another loan to expand my business,” says Samson.
Like many others in Uganda who teach, Geoffrey Agensi, an educator at Misanvu Demonstration Primary School, in the Masaka District, needed a second income to support his wife Rose and their five children.
Geoffrey decided on bee-keeping as a second income as it would still give him time to be able to teach his classes. His loan application was approved by Bayport Financial Services Uganda. He placed the beehives on land belonging to his family in Nyakera Sub-County, in the Ntungamo district.
In the years since Geoffrey took out his loan with Bayport, he has earned enough money to support his family by selling honey to the community. Geoffrey has also passed his knowledge of bee-keeping onto the farmers of his village by creating a Bee-Keepers Association. Here, he provides free training to the farmers to help them improve their honey making process.
Anthony Oboh, who lives in the busy Shama Ahanta East Metropolitan area of Supomu-Dunkwa, is a man of many talents. Over the years, he has successfully fulfilled many ambitions with the help of Bayport Financial Services.
His first loan financed the purchase of a taxi, which helped fund his tertiary education – he completed a degree at the University of Education, Winneba. His taxi venture also helped him to pay for his daughters Jane and Antonia’s secondary education and to finance another business venture selling top-up cards, making unit transfers and offering a telecommunications service.
Another loan allowed Anthony to purchase land, where he grows plantains, seppers and okra. He now owns a small palm plantation. He supervises hired labour from his village to work on his farm, creating employment for the community.
The farm enabled expansion, and Anthony bought a full brass band ensemble, which he hires out for special events such as weddings.
Nicodemus Gemba Matle, a teacher at Kinihhe Primary School in Qurus ward, Karatu district, first borrowed from Bayport in 2007 to finish building his family home. Believing that the only way to increase his income was to develop his dairy business, Nicodemus took a second Bayport loan in 2008 to purchase three more cows, bringing his dairy herd to six. Those six cows produced 30 litres of milk a day, selling at TZS800 per litre.
Nicodemus now has 15 cows. The success of his dairy business has helped him to put his four children through school.
In 2010, he borrowed again to finance the start of a small retail shop in his village, which is operated by his wife.
“I have succeeded through a Bayport loan to create a good life, and a business that will support me later on,” says Nicodemus.
Students at the Bukwaga Primary School in Sironko have learnt modern farming methods and the responsibility that comes with maintaining a garden, thanks to Stephen Washaki, their head teacher.
In order to purchase seeds, Steven obtained a loan from Bayport Financial Services. The students learnt how to grow and look after tomatoes, cabbages, green peppers, eggplants, and cassava. The crops help to supplement the meals at the school and continues to support the community.
“This was a great help to all of us as we had experienced famine before,” said Steven. Steven not only fed the community but he also educated his students.
Obby Mwelwa is a school teacher in Luanshya, where he lives with his wife and their five children. When their last child was born, they decided they needed additional income to support their family.
Together Obby and his wife, Lyness, applied for a loan from Bayport Financial Services to buy 50 chickens to start a chicken farming business. Their business has grown in leaps and bounds and they have increased their stock to more than 400 chickens.
The business has been so profitable that it not only generates enough income to pay the schools fees for their children, but it has also enabled them to refurbish their home.
Nora Ama Bansah and her daughter, Doris, live in Adaklu-Waya in the Volta region. Doris is a bright young woman and upon finishing high school, she wanted to further her education, but financially, Nora could not afford it. However, determined that her daughter would receive tertiary education, Nora attained financial assistance from Bayport Financial Services with an education loan.
Doris completed the six-month course and received a certificate as a Medicines Counter Assistance from the School of Medical Health, which is endorsed by the Pharmaceutical Council of Ghana. And she is now gainfully employed at the Peki Government Hospital in Volta.
“Without Bayport’s financial assistance, my daughter would not be where she is today,” Nora stated.
Blinking to disguise the tears that fill his eyes, Pastor Kibiriti tells how emergency funding freed him from constant pain and discomfort. Pastor, a teacher in the Morogoro region of Tanzania, suffered from a kidney ailment, and a Bayport Financial Services loan enabled him to receive the treatment he desperately needed.
Feeling well again, Pastor took up other challenges in his life. He applied for further loans to send his 18-year-old twins Jackson and Meladus, to secondary school, and he was also able to send his late brother’s orphaned children, SalehNdembo and twins Demostrola and Doris Ooko, to school.
Not only did the funding Pastor received bring medical attention within his reach, it also helped him to fulfil his duties as a father and as a responsible elder to his extended family.
Josephine Kaanuyi is a wife, mother and teacher, living in the Pallisa district of eastern Uganda. She has always dreamt of owning her own cotton fields.
“Although I enjoy teaching, I have always felt passionate about starting a cotton-growing project. Perhaps I am a farmer at heart but I lacked the funds to do anything about it,” says Josephine.
Josephine took out a loan from Bayport Financial Services Uganda to start up her cotton-growing project. She successfully harvested the first crop, making a good profit. She used the money from the sale of the cotton to pay her child’s school fees and with the remainder, she bought a cow. The cow provides dairy products for her family and Josephine sells the leftover dairy products at the local market.