1. My friends and I decided to start one last year. Being our first year it was a bit hectic because we started in a casual way. This year we have decided to make everything official i. e registering our Chama, opening bank, coming up with rules to govern our Chama, dealing with serious individual only and many more

  2. I am in an investment chama of 10people we are now contributing 2000 every month then after every financial year we increase the amount as per our constitution. We have a very strict constitution which all members adhere to without fail failure to ex-communicated from the chama. that you might be . Any late payment a fine is charged. Missing to attend a meeting with or without an apology is charged to
    We aligned our goals as long and short term goals when we started
    Short term goals: we had money saved in 2 money markets funds and fixed deposit so that it earns interest. Which we did for 2 years
    2nd short-term goal was having the chama registered by 2017 which we did just last week. So we are now registered as a limited Co.
    Longterm goal was to buy a car by 2017 to be used in taxi biz and we managed to do that and car is already here jus finalising on stuff before we kick start the uber business by end of January
    2nd Longterm goal buy another car before year ends after surveying with our first car which will already be in taxi biz, if taxi biz is viable
    3rd long term goal buy land we have already started the search for that ‘perfect’ land. So hopefully by end of 2017 we will choose between the 2nd car or land after seeing pros and cons of both

  3. Not in a registered chama but searching. I think they can invest in small businesses seeking funding that are low-risk to start off, I know students like myself would appreciate more backing. Over the course of the year, I hope to increase my clientele list and grow my design business further

  4. The chamas should have their priorities listed and they should invest in projects which assist them to develop themselves and also their chama.All the members should be taught on how not to default loan and also the benefits of saving money in a chama than in a bank.