In the Kenyan setting, a Chama consists of a group of women mostly housewives who come together t collectively save money and if possible invest. Chamas also refer to a normal group of women who are known to gossip in the neighbourhood.
This lead to the creation of thousands of investment groups that have greatly contributed to the progress of the Kenyan economy and provided more people with additional income. Here are a few of the many reasons you should be planning to join a Chama in the near future.
1. Support system.
Both financial and emotional. Aside from sharing savings (that you may be allowed to withdraw from) a Chama can be a networking opportunity to make new business acquaintances and make long-term friends.
2. Lower investment risk.
When you invest in a Chama you are now conducting investments as a group. Therefore, you do not have to take the risk of an investment on your own you have multiple shoulders to help you carry that burden.
3. Learning experience.
Chamas create the perfect learning environments because they bring together different people with a mutually beneficial goal. In your Chama you will work with people with a whole host of experiences and skills and if you are will, you will be able to learn from these people.
4. Combat the fear of investment.
Fear of being duped, fear of failing and fear of other risks stop many people from investing. Similar to the safety the buddy system gives you when you go out with your girl the Chama is your investment buddy system.
5. Creates a source wealth.
To create enough capital for projects is much easier as a group. One the investment projects are funded and running the profits earned once reinvested creates long-term wealth for the Chama and the Chama‘s community.
Start planning today, get some girls together to build your savings and your future wealth with a Chama.