Oluwafemi sells rechargeable phone cards at retail prices to his customers. He loves this business because of the one-on-one interaction that he has with his customers. He has been in this business for 10 years. He is making much progress and hopes to expand his business.
Oluwafemi is 33 years old and single without children. He is requesting a loan of 70,000 nairas to purchase more rechargeable phone cards to sell. He says thank you to all Kiva lenders.
The Kiva Field Partner in Nigeria who administers this loan is called the Lift Above Poverty Organization (LAPO). Kiva’s Staff wants to call your attention to the fact that LAPO is the subject of controversy. While all Kiva Field Partners charge an interest rate on loans to sustainably operate, LAPO’s interest rates (see their “Portfolio Yield”) and profitability (see their “Return on Assets”) are amongst the highest on Kiva. Kiva’s Staff encourages you to learn more about this Nigerian Field Partner before making this loan. http://www.kiva.org/partners/20