“It is estimated that there are over 300,000 duly registered Chamas across the Country with a collective asset base worth more than Ksh 300 Billion. This data indicates the huge potential that lies when individuals pool funds. However, there is a great need for professional support to Chamas for the them to reap maximum benefits in any venture they engage in.”
Speaking during the launch of Chama Breakfast Forum, Reuben Kimani CEO, Username Investment Ltd. noted that majority of Kenyans are members of one or two Chamas and their desire is to channel their contributions in a viable venture that guarantees returns.
“I am encouraged to see a huge turn up in this event, a clear indication of your desire to receive empowerment as you gear towards your financial success at individual and group level. This is an opportunity for you to learn more on group dynamics, record keeping and taxation, managing personal finances and the customized investment products available for you at Username Investments. I believe the insights will empower you to make investment decisions from a point of information.”
Imarisha Chama is a forum organized by Username Investments to educate investment groups on pertinent issues affecting Chamas. This was the first edition where Chama members are only required to attend and learn for free. The CEO expressed optimism noting that this event will set investment groups for success.
“After food and clothing, shelter comes up in the hierarchy of needs. It is the desire of each and every individual to own their own home, unfortunately, to some, property ownership is unreachable due to the high prices charged. This could be attributed to the fact that 74.4% of persons employed in the formal sector in Kenya earn Ksh 50,000 and below according to The Kenya Bureau of Statistics, whereas. Some of those who earn this amount are able to invest individually, however, some prefer joining an investment groups and take up invest together. This has continued to emerge as the preferred mode of property ownership by investors. At Username, we have witnessed young people owning their own homes through their investment groups. Our desire is to empower each and every Chama in Kenya”.
Reuben was referring to the potential that lies in pooling resources and investing together as a group especially for the low and middle income earners. He also encouraged individuals to consider joining a Chama. He noted that investment groups provide multiple shoulders to lean on when pooling funds and when brainstorming ideas.
Reuben also encouraged Chamas to consider investing in real estate as it remains the highest return assets class influenced by continued infrastructural growth in the country, the peace of mind and security that comes with having your own title deed. He further encouraged them to carry out thorough research when investing in real estate to ensure they receive return on their investments to avoid losing their lifetime savings to rogue real estate companies.
“As a Company we will continue to give more attractive offers to Chama’s. Currently, we are extending a buy 10 plots get one plot free Offer to Chama’s and we intend to have more of this to ensure we set up every Chama in Kenya for their economic success this year. I encourage each Chama in Kenya to consider attending one or two forums this year”. Reuben concluded.
Click on this link https://bit.ly/2Mu5x1Q to watch the full video of the event.