Basic Financial services for rural dwellers

ADRAMOL NIGERIA LIMITED is a limited liability company duly registered with corporate Affairs Commission with registration number RC: 1585547. The business registered office is No.4 Okelogbo, Ijero Ekiti, Ekiti state while the operating office is located at Prince Olu Aje house Iloro-Ekiti, Ekiti state. The objects for which the company is established are : 1. To work as Agent for banks and mobile money service providers to make basic financial services such as, opening of bank account, Cash withdrawal via POS terminal, micro credit, BVN registration, fund transfer etc available and accessible for the people and micro businesses in the rural areas thereby promoting the Central Bank of Nigeria cashless and financial inclusion policy. 2. Providing consultancy service for corporate organisations, small and medium scale enterprises on electronic payment of workers salary via ewallet and how they can generate revenue through the system. 3. Providing ICT services for the people and businesses in the rural areas thereby promoting the National Information Technology Development Agency ( NITDA) policy on digital literacy and national digital economy.

TARGET MARKETS: 1. Micro businesses, such as locust beans sellers, food vendors, beer parlour operators and other daily consumables dealers. 2. Ordinary people who need one type of financial services or the other, such as cash withdrawal, funds transfer, opening of bank account, bill payment etc. Presently, we have targeted over 1,000 viable Micro businesses for the micro credits service. FUNDING / WORKING CAPITAL NEEDED : The working capital needed for the full takeoff of the company is one hundred million Naira (N100,000,000) to fund the company financial services, such as, micro credit service, Cash dispensing, Fund transfer, Bills payment etc.

IMPLEMENTATION AND SUSTAINABILITY APPROACH : The money will be solely invested in providing financial services, such as micro credit, cash withdrawal, fund transfer, bill payment etc for the people and micro businesses in the rural areas to meet their daily financial needs, thereby boosting local economy. Loan amount for each client: N100,000 Interest rate per month: 3% Loan Tenure: 12, 18 & 24 months Mode of repayment: N300 daily for 24months repayment period, N400 daily for 18months repayment period and N500 daily for 12months repayment plan. Savings inclusive. The daily payment collected will be used to finance services, like, cash withdrawal via POS, fund transfer, bill payment etc. The Business / Investment will be protected with appropriate insurance policy. Profits analysis / projection for the company: The profits projection for the company is estimated at 36million Naira and above. This is feasible when we give N100,000 credit facility each to 1,000 micro-business owners mentioned above, at 3% interest per month, that will give us N3000×1000=N3,000,000 monthly multiply by 12months, it will give us N36,000,000 gross profit per annum, aside from the profits that will be generated from our other services. RETURNS ON INVESTMENT (ROI) FOR POTENTIAL INVESTORS: The Investment is expected to be for a minimum of 4years term or as agreed upon. We shall offer 20% Returns On Investment (ROI) per annum for potential investors. This is feasible based on the profits analysis and projection given above.

I am 41 years old. I hold National Diploma in Public Administration. I have 5 years working experience as a financial secretary in a cooperative society and also trained as an Agent banking / mobile money service provider by FCMB and eTranzact Intl. Plc. I am also skilled in ICT/ Mobile device operation, servicing and maintenance.

start-up stage