OLX is now partnering with chamaas to enable them to maximize on their investments. OLX has been working with Chamas in Nairobi, showing them how to identify things they can sell in their homes, and putting whatever income is generated from the sale back into the Chama.
It is this opportunity that many institutions are looking at tapping into. Mary* and her friends were excited to have the team at OLX visit and show them how they can make some extra cash.
‘We didn’t know we had so many things to sell in our houses, or that we could take our businesses online in that way,” She says.
The money gained from selling can be used as your individual chama contribution for the month or to top up what the member had before and maybe was not enough. This means that this is a personal contribution, not belonging to the whole chama.
Some Chama members are even posting stuff from their businesses and selling them. In addition a Chama can decide to post something online and use the money towards their project, as a group.
“We started our Chama Project in Nairobi for initial trial. It wasn’t enough to just tell people they have stuff to sell in their homes; they had to see a direct benefit to them. With the current economic issues, we wanted to show the women in Chamas a different approach to making money and buying assets,” says Ms. Priscilla Muhiu, Marketing Manager, OLX.
It is every Investment Group’s dream to invest in assets in the future and grow their members financially. Any opportunity that can be harnessed is utilized fully. It is with this knowledge that OLX started working with chamas to open their eyes to new ways of making money.