Investment clubs, or as we like to call them Chamas, have become a big part of the Kenyan society as they bring together two things we are definitely good at, working as a group and investing. They say that if you want to go fast, go alone but if you want to go further go with others and the concept of chamas definitely finds root in this adage. We have seen chamas grow into big companies and they are certainly central to many cooperatives and enriching the lives of many Kenyans.
One fundamental thing in all chamas is the monthly or weekly contributions, depending on your chama, which are used to raise money for the different activities. Getting to raise this money can be tricky, especially if one is in a difficult situation financially. This is where OLX comes into play.
We all have old stuff laying around that we do not need and this can be useful in helping you raise that money for your chama contribution. We’ve said it before, your home is a gold mine waiting to be explored. Needing quick cash for the next chama contribution is an opportunity for you to discover the gold you have piling up. Instead of depriving your family of certain foodstuffs or luxuries, you can sell the items in your home and get your next chama contribution (and possibly a little left over)
Have a look around your home and collect all the items you don’t need or use. Take a picture of the said items and put them up on OLX. Once you get a buyer you can use the money to fund your chama contribution. The great thing about it is that you can sell as many items as you want and raise as much as you need. This means you can raise cash for the whole year at one go and not stress over it every month.
OLX has so far activated 1600 chamas across Nairobi over a period of 4 months since the activation started on May 19 2014. They have 10 brand ambassadors who visit 20 chamas daily. The chamas are pre-booked through referral system, i.e. the brand ambassadors go to the chamas and they introduce them to their chama members who most likely belong to other chamas. So put word out that you want your chama to get signed up. Your network of chamas will help OLX get to you and help you and your circle raise enough cash to get your chama doing great things in a short time.
Through this OLX hope to help more chamas members raise their contributions and build their chamas to great heights. It offers a great way to hit two birds with one stone as one will be offloading unwanted or unused items as well as raising money to invest in new items. So if you’re in a chama or are thinking of joining one but are worried on how to raise contributions, OLX has you covered.