Tom Magomere

Tom Magomere Rumile is 44 years old. He is married and has four children, aged 9, 7, 5, and 3 years respectively. Tom lives in an informal settlement of the Kibera slums. All his children are school-age and attend schools within his community. In 1996, Tom lost his father due to high blood pressure-related complications and then in 1998 he lost his mother to cancer. Starting in 1993, Tom was employed by Water World for 14 years, where he worked as a head housekeeper. Unfortunately, he was laid off in May 2007and was paid 55,000 Kenyan Shillings ($850.00) in terminal benefits. He added this to personal savings of Ksh 30,000 ($460.00) and then sat back to think of what best to do with this capital.

He realized that in the 14 years that he had worked for Water World he had gained a lot of experience in working with children. He therefore decided to start up a start a children's entertainment center. Tom's friend Mark was selling a bouncing castle for Ksh 130,000 ($2000.00). He approached his friend and paid him the $1310.00 he had accumulated as a down payment for the bouncing castle. He then negotiated with Mark to loan him the remaining $690.00, which he would pay back slowly. Truly a friend in need is a friend in deed because Mark accepted this proposal and loaned Tom the remaining money. From then on Tom worked very hard and within a period of 8 months he was able to pay back the remaining money to his friend.

Tom’s business has since continued to grow and attract more customers. He now feels that his business needs to expand by providing additional services to his customers. Tom desires to put additional equipment to his business and intends to purchase a candyfloss machine worth Ksh 60,000. He believes that with this equipment, he will make a very huge change in his business because he will add variety for his customers. He regrets recently losing a contract with a big company due to lack of this machine. Tom believes that the machine will be of great impact, especially to children, because the machine produces sugar and kids love sugary products. He says that he will be able to send more money home to support his family needs and school fees. Tom thanks Kiva lenders in advance on behalf of ANK for this wonderful project and believes that his request will be considered. He intends to pay back his loan within twelve months.

Disclaimer: Due to recent events in Kenya, the security situation in many communities remains unsettled, affecting many local businesses. Lenders to this entrepreneur should be aware that this loan may represent a higher default risk, and should be willing to accept this additional risk in making their loan.