A Chama, like any saving circle, is a smallgroup of people who trust each other, make a commitment to save money together, and meet
weekly or monthly in pursuit of their goals. There are two types of savings and credit associations: Rotating Saving and Credit
Associations (ROSCA) and Investment-based savings and credit associations (Accumulating Savings and Credit Associations - ASCAs). 2
They contain between three and 30 members who pool their savings together and invest as a group. 3 These are the simplest and most popular form of saving circles around the world. In the US alone, rotating saving clubs formed by immigrant communities are a $30 billion market. Rotating groups (ROSCA) provide members with regular cash sums. A group of friends agree to save a certain amount, either weekly or monthly. Each cycle, a different member takes home the funds paid in. For example, ten members save $100 per week. Each week, one member will take $1,000 home. There’s a risk that someone receiving a payout early in a rotation may default on payments before the rotation ends. The solution is to structure payouts: the most trusted members receive theirs first, and the least trusted (ie, newest) members receive them last. Additionally, Chamas require new members to be guaranteed by existing members. Because of their simplicity, rotating Chamas are the most popular. In Kenya, there are three times more rotating clubs than investment clubs.
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
This offer is based on information provided solely by the offeror and other publicly available information. The token sale or exchange event is entirely unrelated to ICOholder and ICOholder has no involvement in it (including any technical support or promotion). Token sales listed from persons that ICOholder has no relationship with are shown only to help customers keep track of the activity taking place within the overall token sector. This information is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice or carry out your own due diligence before taking, or refraining from, any action on the basis of the content on our site. Any terms and conditions entered into by contributors in respect of the acquisition of Tokens are between them and the issuer of the Token and ICOholder is not the seller of such Tokens. ICOholder has no legal responsibility for any representations made by third parties in respect of any Token sale and any claim for breach of contract must also be made directly against the Token issuing entity listed herein.
If you have any concerns about the nature, propriety or legality of this token sale or the persons involved in it please contact [email protected] with detailed information about your concerns.