Views:518 | By: Becky | Act: Visit Business Chama has become a day-to-day savings system in which the majority of men and women are involved. Although the growth of chamas was not always smooth many have riped the benefits with 100?.
Chamas began years ago but were often associated with gossip and women plotting. But as time went by table banking and investments became part of it making it easier and appreciated. The chamas played a major role in the development of a saving culture. this helped create better uses of money as well as supporting those considered underlings to have a better chance of creating new things.
Through chamas even the lowest businesses developed a plan on how to expand, they could invest in properties that if left alone would never have been achieved. Chamas have in turn played a role in the growth of businesses as well as the eradication of poverty in some households.
Although the benefits outweigh the losses there have been cases of swindling and debt accumulation. These cases have become common due to some living beyond their needs and excessive greed. There has also been a bad investment that threatens the Chama development. Although these cases happen it does not mean working together to develop a savings and investment portfolio is easy, it needs commitment and discipline. Though it all with patience you will ripe the benefits.
Remember savings support us when age takes its toll.