Ibraimo Momade, who is 53 years old, is married and the father of five children. He lives in Moma district, Nampula Province, in the locality of Pilivili.
With more than three decades of experience in business, Ibraimo’s journey has been one of trial and error, and ups and downs, as he tried various economic activities, from selling fuel and used clothing and a variety of other products. However, it was in the food trade that he truly found his calling.
KMAD’s small business support programme gave Ibraimo, and his brother Murgiua Momade, a loan of 500,000 MZN. They matched this loan with an additional 500,000 MZN from their own funds.
With this capital, the two brothers expanded their business selling food, and in just three years, they managed to pay off the KMAD loan. But Ibraimo and Murgiua didn’t stop there. Together, they transformed their retail business into a wholesale distribution venture, gaining market share not only in Pilivili but in surrounding localities as well.
This growth was not just a financial success but also a testament to their dedication and hard work in meeting the needs of their community. The business provided them with an average monthly revenue of around 300,000 MZN. They used this to invest in building their own warehouse, finance their children’s education and support their parents.
Recently, the brothers received a new loan from KMAD, this time for 750,000 MZN. They have added 400,000 MZN of their own funds and have ambitious plans to build another outlet and expand their operations, and offer a wider range of products and services.