Octopus Microfinance Suite

Abdul Rahim has been in the business of vegetable vending for the last 2 years. Prior to that he was doing odd jobs, like repairing stoves and other household appliances to make a living. Life was uncertain as he did not have a constant source of income. He operates from a small shop with an open tent in the main vegetable bazaar, which is owned by the Government, in Charikar city of Parwan province, Afghanistan . He pays a rent of about 50 Afghanis for his shop. His association with OXUS Afghanistan began in June 05, when he took his first loan of 8,000 Afghanis along with two other persons. He has subsequently taken two other loans, and is now in the third cycle of borrowing, with a loan amount of 18,000 Afghanis. In his words, the loan he has got from OXUS has been very helpful and timely. With the loan amounts he has been to expand his business significantly. Prior to getting the loan, he used to buy stocks on credit, resulting in him having to pay a mark-up on the original price and also he could not stock more vegetables, both in terms of quantity and variety, as the credit available was limited and costly. Now he has the freedom to get vegetables from the place he wants, in the desired quantity with the desired quality. As a result his sales turnover has gone up. Now he sells vegetables worth about 2000 Afghani everyday with a profit margin of 20%. He plans to take bigger loans in future from OXUS and expand his business further. He is confident that with the financial support from OXUS , he would be able to lead a better life and take care of all the needs of his family of six.