My name is Allan Mwesigwa, age 32 years, I hail from Gita-Nabutaka village in Nangabo town council, Wakiso district.
I earn my living by making briquettes and energy-saving stoves. My journey to entrepreneurship began as a response to adversity, which ultimately transformed into a blessing in disguise.
After the untimely death of my sponsor, I was forced to abandon my studies in animal production. Desperate for income, I turned to riding a boda-boda (motorcycle taxi). However, a fateful accident left me incapacitated for months, unable to work. It was during this period of recovery that I found myself working in a brooder, caring for chicks. Witnessing the excessive use of charcoal to keep the chicks warm sparked an idea within me- the birth of my briquette-making venture.
Determined to turn this idea into reality, I delved into research and experimentation, gradually transitioning from charcoal residue to utilizing plant materials and other environmentally friendly materials.
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In my business, protecting the environment is so dear to my heart. We utilize plant-based materials and actively collect rubbish and other waste from the environment. For the eco-stoves, we also gather metal scrubs as raw materials, effectively contributing to the preservation of our environment.
A stroke of luck came when a former boda-boda colleague invited me to a financial literacy training session conducted by Equity Bank.
Attending this training was a turning point. I learned about the Youth Loan products offered by Equity Bank and Mastercard. With newfound knowledge and confidence, I approached the Kasangati branch of Equity Bank. With the invaluable assistance of my group members and a supportive credit officer, I completed the loan process and applied for the support of UGX 3,000,000. I was granted UGX 1,500,000 which catalyzed my business.
The loan enabled me to invest in a solar dryer and buy more raw materials, significantly increasing my production capacity. What was a modest operation producing 200 briquettes biweekly, transformed into a thriving enterprise churning out 1000 briquettes daily.
The success of my initial investment paved the way for further expansion. With a second loan of UGX 3,000,000, I established a business structure, increased production and constructed a home for my young family. Subsequent loans facilitated the diversification of my product line, including the production of energy-saving stoves. Additionally, I invested in transportation, purchasing an engine for a tricycle to facilitate product delivery.
As my business flourished, so did employment opportunities for others in my community. From just two casual employees, I now provide steady employment to four young people and three casual labourers.
Through prudent management and hard work, my capital has grown exponentially from UGX 2,000,000 to UGX 25,000,000. I have invested in essential machinery such as grinders, welding machines, and briquette-making equipment, which has significantly enhanced efficiency and production capacity.
While my aspiration for business automation persists, I remain grateful to Equity Bank. They have been my partner in progress, empowering me to realize my entrepreneurial dreams and I thank them for their timely intervention in addressing my capital needs.
