Home / Success Stories / Kabeh Sumbo On How I Started My Cooking Oil Business With Just $50 Loan

Kabeh Sumbo On How I Started My Cooking Oil Business With Just $50 Loan

I started my business with a $50 USD loan from a micro-finance institution in Liberia. With the help of my daughter, I was able to start selling palm oil at the major market in Monrovia with only one gallon of oil. Today, I mainly sell wholesale palm oil and regularly source my products from six different villages throughout Liberia. Prior to enrolling in the 10,000 Women program, I had a difficult time managing the incredible growth of the company.

After graduating from 10,000 Women, I have improved my sales strategies, customer service, and general management skills. I am now exporting more locally-made African cooking oils to New Jersey, thereby increasing my exports by 50%. Additionally, I am now working on a branding strategy for my products, and I have started keeping records and budgeting. 10,000 Women has enabled me to think strategically about growth, and better identify and evaluate new business opportunities.

I have become a much better manager, and have begun to delegate tasks to my employees so that every responsibility does not fall onto my shoulders alone, and so that my employees can better serve my customers.

Since 10,000 Women, I have hired four new employees and opened three additional warehouses around Monrovia. My revenues have increased by over 30%.

10,000 Women gave me the confidence to enroll part time in University where I am currently studying Agriculture. With support from the Government of Liberia, I hope to obtain a piece of land that I will be able to use for my own palm tree farm.

Business Overview

Passama Agriculture and Trading Corp. provides locally processed Liberian oils (palm oil, palm kernel oil, coconut oil, and tobogee oil) to hotels, restaurants, the general public, and government and international NGOs operating in Liberia. Passama is involved with both domestic sales and international exporting. The company also operates a successful set of warehouses in the busiest market in Liberia.

Challenges

The major business challenges I faced included finding international buyers interested in the African oil market, transportation of goods due to poor Liberian road conditions, and exporting goods through the ports in Liberia.

Future Goals

I would like Passama to be the leader in the local oil market, and to be the supplier of local oil to other vendors in and around Monrovia.

Watch the video of how the 10,000 Women Program is transforming female entrepreneurs.

Source: Goldmansachs.com – 10,000 Women Program

About Enock Kiprono

Enock Kiprono is the founder of Fenesi.com & Dealpoa.com. He loves to connect with entrepreneurs that are success driven, passionate, action-taking whose goal is to make a difference in the business world!

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2 comments

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