Our entrepreneur, Fred Shava has been focused on building his staff since he received his seed capital. He has invested part of the seed capital into training of critical staff which has improved all aspects of our business. In addition to this approach, he has also implemented some of the learnings from TEF to impart knowledge to his staff and this had a lasting impression on the business.
Barely 3 months after disbursement of the first tranche, he improved by 100% on all facets of the business- employees increased from 6 to 12 workers, increased client base from 20 to 37 hotels, increased turnover from $3, 500 to $7, 000 per month. He had projected an annual turnover of $50, 000 for 2015 but now he will end the year on $80, 000.
He plans on tripling his revenue upon receipt of the 2nd tranche. In his words, “this is a clear testimony to what Tony Elumelu Foundation can do for you.”