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Succcess Story of Med plus Electronics Medson Muphe-Owner

  • January 30, 2024
  • Posted by: Newage
  • Category: Success Stories
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Med Plus Electronics

Medson Muphe studied automobile electronics at Lilongwe Technical College. In 2022, he decided to use his knowledge in electronics to start assembling water heaters. That was the beginning of Med Plus Electronics.

Medson buys buckets locally but the heating elements and electricity power cord are bought from Republic of South Africa.

“I started this business with a very small capital. Then, I could manage to assembly only five water heaters. As demand for water heater grew, I felt compelled to look for more capital.

How FinanceRite Helped Us So we formed a group to access a group loan from FinanceRite. The first loan helped a lot. I was able to more components and as you can see my business grew. I am now able to assemble more water heaters.

“I repaid my first loan and have now accessed a second loan to grow the business further especially now as we go into a cold season”

Medson wants to expand his business into assembling instant geysers. He also wants to register his business and the products so that they can be sold without challenges.

The Challenge I started this business with a very small capital. Then, I could manage to assembly only five water heaters. As demand for water heater grew, I felt compelled to look for more capital

The Solution So we formed a group to access a group loan from FinanceRite. The first loan helped a lot. I was able to more components and as you can see my business grew. I am now able to assemble more water heaters.

The Result Medson wants to expand his business into assembling instant geysers. He also wants to register his business and the products so that they can be sold without challenges.

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