To me the word chama used to conjure up an…
The first meeting was held at an uptown coffee house and the cynic in me was already questioning the choice of venue. If we were meant to save and invest then why are we already spending? Anyway, the meeting began with a look at the current contributions and account statements by the treasurer. There was also a report done by one of the ladies who had been tasked with looking at the viability of an investment project. By the end of the meeting, I was thoroughly impressed. And I was also reaching for humble pie. These ladies were absolutely organised and well informed. They were from all walks of life; accountants, there was a teacher, a doctor, a stay at home mother, business ladies to mention a few. And with this diversity, they all brought refreshing perspectives to the table.
This was clearly not my mother’s chama.
I was impressed to learn that some of the contributions were going towards the purchase of a prime piece of land in Ruiru for which they were finalising the paperwork. Also impressive was that the funds were not held in one of the members account. Quite frankly, that would have had me running for the hills. They kept the money in a special, account designed for chamas; The Chama Account from Chase Bank. This account comes with access to a secure and convenient internet banking platform so chamas are able to view our account and transact online without having to go to the bank. What’s more, members can also make contributions directly to the account through a mobile banking service called the Mfukoni app. The Chama Account also comes with additional benefits like insurance cover via Chase Assurance; the insurance division of the bank.
Every once in a while the conversation drifted to the latest fashion craze which made the meeting all the more interesting.
A few months down the line, I had since become an active member and my chama, had finalised the purchase of the land and we were now in the process of acquiring a loan facility to put up rental houses on the land. Thanks to our Chase Bank Chama Account which allowed us to access loan facilities for property and other developments. And just like that, I am on my way to becoming a landlord. Who would have thought?
During the months that followed, I enthusiastically attend each and every meeting. And even got actively involved in the committee arranging our Christmas getaway. Oh, and I forgot to mention that we had previously arranged for weekend getaways to Naivasha.
I have developed lifelong friendships, wonderful memories and a chance to realise my dreams; all thanks to my chama.
