There’s an African proverb my grandmother likes to say, if you want to go quick, go alone. If you want to go far, go together. The same applies to investment groups or what we like to call Chamas. Chamas are a great way to go far because, by pooling funds, you are able to achieve more as a group than you can do alone. Have you joined the chama movement? Well, here are three reasons why you should join one as soon as possible:
- Financial security
People in many instances have been duped of their money. When one is in a Chama, the fear of failing and fear of other risks that prevent you from venturing into investing turns into a thing of the past. Chamas assure one of financial security and a guarantee of return on investment. Chamas also serve as a source of wealth.
2. Social and moral support
Being in a Chama allows one to have access to both financial and emotional support. Aside from sharing savings, a Chama can be a networking opportunity to make new business acquaintances and make long-term friends
3. Spreading risk
When you invest in a Chama, you conduct investments as a group. Therefore, you do not have to take the risk of an investment on your own as you have multiple shoulders to help out in carrying the burden.