University Of Ghana Graduate Who Sold Her iPhone To Start A Micro-Finance Business In School Shares Her Story

  • Patricia Asare, a College of Ghana alumnus began a microfinance enterprise in school right after birthing the plan throughout a prayer session at a camp assembly
  • She sold her Apple iphone for the initial cash and operated the business in her area until she done college and registered the company with the Financial institution of Ghana
  • The younger woman acquired a grant from UKAid by Technoserve and obtained an trader together the line by means of a mate

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Good enterprise ideas occur in various approaches. There are persons who obtained their life switching idea by means of conversations and some by means of desires. Far more frequently than not, fantastic ideas are birthed in situations wherever a option is necessary for an existing dilemma or lack.

Patricia Asare, a former College of Ghana, Legon scholar acquired her ground-breaking notion to commence a micro-finance company on campus while at a camp conference. In a prayer session, it just clicked to her that she could lend cash to learners and get interests out of it.

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Former University of Ghana student on how she started a business in school
Scholar volunteers of Patricia’s micro-finance organization, Patricia posing for the camera
Image credit: Patricia Asare
Resource: UGC

In an interview with, Patricia opened up about the actions she took just after getting the enterprise thought and how she has been ready to extend and maintain the small business over the a long time.

Raising original funds to start out the micro-finance business

Upon returning from the camp assembly, Patricia commenced preparations in the direction of bringing her concept to gentle and one particular of the items she had to figure out was the commencing cash. To finance her new concept, Patricia understood she experienced to make a massive sacrifice and she did just that.

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“I experienced no funds conveniently readily available to start off my enterprise so I selected to offer the Apple iphone I was utilizing at the time to elevate the capital I necessary”

With her cash readily available, Patricia correct way begun lending out income to college students who wanted financial loans. Her area in school was the area of the enterprise and thankfully, a several of her pals volunteered to aid her out.

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Registering the enterprise with Financial institution of Ghana right after finishing University of Ghana, Legon

Former University of Ghana student on how she started a business in school
Patricia with an award and a male colleague
Picture credit: Patricia Asare
Resource: UGC

The micro-finance acquired a whole lot of patronage from college students on campus and by the time Patricia graduated from the university, she understood functioning her company on total time basis was the finest alternative for her.

“By the time I done, I was very well informed of the opportunity of my business to expand even larger than it at the moment was and so the subsequent action was to get it registered with the Financial institution of Ghana and I also created certain all the needed licenses to ensure easy procedure of the enterprise were obtained”

She also enrolled in a quantity of small business courses to learn much more about managing a business enterprise and interned with consulting corporations to broaden her business administration expertise.

An intriguing aspect of Patricia’s journey was the reaction of her mother and father when they in the beginning discovered out she had a small business in university.

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“Moms and dads currently being ‘parent’, they were sad that I was working a small business in school rather of totally focusing on the cause for which I was in faculty but sooner or later, they arrived all around. They were being even so very pleased of me to the extent that they invested in my organization”, she informed

Starting to be a nationwide service personnel for her very own business and using the services of long-lasting personnel

University Of Ghana Graduate Who Sold Her iPhone To Start A Micro-Finance Business In School Shares Her Story
University Of Ghana Graduate Who Bought Her Iphone To Commence A Micro-Finance Company In School Shares Her Tale
Source: UGC

As mandated by the govt of Ghana, Patricia had to go through national services for a yr after completing school but becoming the manager girl she was, Patricia was ready to get factors jogging in her favour.

“After school, I paid a pay a visit to to the National Company Secretariat and luckily, they ended up able to change my service submitting to my personal business.”

Patricia was also capable to employ a variety of long lasting workers and continued to have interaction student volunteers. The enterprise run properly from 2015 till 2020 when the COVID pandemic strike and they experienced to go on a break.

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“The college students who were being our clients experienced to go home due to the pandemic and small business dwindled exceptionally thanks to that. I also bought married, acquired expecting and welcomed our bundle of joy which intended putting the company on hold for a little more time”

Finding economic support from UKAid and other buyers

University Of Ghana Graduate Who Sold Her iPhone To Start A Micro-Finance Business In School Shares Her Story
College Of Ghana Graduate Who Offered Her Iphone To Commence A Micro-Finance Small business In Faculty Shares Her Story
Supply: UGC

Patricia shared with that one of the things that served her business enterprise was getting funding from several persons and entities.

“Alongside the line, a pal of mine released me to a man who thankfully turned my very first investor, I also received grants from UKAid via Technoserve and my mom and dad help me from time to time”

The target in accordance to the younger lady is to resume organization coming June, 2022 as matters have settled down and college students are now in school.

For Patricia, becoming a enterprise proprietor at fewer than 25 a long time was pretty difficult. It demanded a good deal of willpower, proper administration and resilience but the greatest goal to establish a far better and sustainable long run for herself is what retains her likely all the situations.

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To the youthful kinds who wish to run their have organizations someday, the micro-finance CEO encouraged them to usually keep in mind that they are incredibly considerably capable of attaining something they established their minds to and that they only require to keep fully commited and to hardly ever get rid of sight of the finish purpose.

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Meanwhile, earlier reported that Lydia Amedekah, a young Ghanaian woman lately took to social media to introduce herself and open up up about what she does to sustain herself.

In a article on her LinkedIn timeline, Lydia revealed that she is a student at the Ho Complex College.

She also shared that she now is effective as a fashion style and a textile designer on a element-time basis and the aim is to 1 day dominate Ghana’s style business with stylish outfits.