10 reasons to join Chama

The potential in chamas is huge. The idea started as women merry-go-rounds where members meet on a regular basis and contribute money which would be given to one member.

With time, chamas have grown and some have become success stories with huge investment portfolios. Originally a women’s affair, with time, men too have joined ship.

If you are not yet in one, here are reasons why you should join.

?1. Huge potential in chamas

Many people have been able to do great things through chamas, including educating themselves and their children, boosting their businesses, investing.

2.Different viewpoints

When you are part of a chama, you gain a broad perspective on the stock market, and are able to spread money over varied stocks, allowing individuals to own a portion of several companies.

3. Financial management

Some groups invite experts to give financial tips to members. The experts educate the members on how the stock market works and how to reap from it. Chamas tend to contain a number of people who are knowledgeable about investments, making it easy for the group to make an informed choices.

4. Spreading risk

When you invest as a group, you get a huge share of profit because of the share value and are able to spread the risk.

5. Financial independence

This is especially true for women who are unemployed and rely on their spouses for financial support. Through  chamas, some women have also been able to start small businesses and even  financially support their spouses in family ventures.

6. Decision-making and discipline

Through regular meetings, chamas  force members to adopt an active investment style and decision-making process — whether to buy, sell or hold stock. The decision-making power of a chama is based on democracy since each member brings his or her own experience and skills to the group.

7. Networking

Through chamas, members are able to connect with new and old friends and widen their social and professional networks.

8. Opportunities to develop skills and experience

One’s enthusiasm and commitment strengthens the chama and helps members to achieve their group goals

9. Place to release stress

Being an active member of a chama is great for your health and wellbeing. Some chamas organise special outings for their members where they go out of town, or out of the country just to unwind.

10.Social and moral support

When a member has a wedding, gets a baby, graduates, loses a family member or is hospitalised, the group offers financial and moral support.