{"id":441798,"date":"2011-06-15T19:27:26","date_gmt":"2011-06-15T19:27:26","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/15\/chamas-find-their-way-into-the-office\/"},"modified":"2011-06-15T19:27:26","modified_gmt":"2011-06-15T19:27:26","slug":"chamas-find-their-way-into-the-office","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/","title":{"rendered":"‘Chamas’ Find Their Way Into the Office"},"content":{"rendered":"
\n
\n
\n

\"The<\/a><\/p>\n

Mwangi Muiruri<\/p>\n

15 June 2011<\/p>\n

\n

Nairobi \u2014 Merry-go-round, a savings method that is popular among women groups outside the formal bracket, has found its way into the offices of salaried staff from large companies.<\/p>\n

Both men and women are now engaging in merry-go-rounds in a bid to improve their finances.<\/p>\n

More and more employers are now coming out to mobilise their staff in joint ventures for self-development.Some companies encourage merry-go-round projects at the work place, where employees sharing the same investment aspirations can pool resources and grow together.<\/p>\n

Mr Chris Macoloo of World Neighbours Saving Scheme says such arrangements can unlock enormous potential within a group of like-minded employees.<\/p>\n

“An organisation that seeks to organise its workers into merry-go-rounds with a view to ensuring common growth is aware that this is one of the best in-house welfare schemes,” he says.<\/p>\n

He suggests that human resource departments set aside a budget for financial experts and personal finance advisers to teach their staff about various ways of partnering for purposes of investment.<\/p>\n

“The idea is to encourage the culture of saving as a prerequisite to building a strong foundation for mobilising local financial assets within the workforce. It is tough going it alone, but a group of committed and focused colleagues can be the key to a fortune,” he says.<\/p>\n

But he cautions that those who want to join such schemes should be willing to rise above petty mistrusts and a pessimistic mind-set.<\/p>\n

“There are those who cannot trust their savings to a group. Such people can cause complications. But with watertight structures where every member would feel secure, the benefits can be enormous,” he says.<\/p>\n

According to Mr Julius Mwaniki, a product development officer at the Kenya Commercial Bank, joint ventures are a key component of asset accumulation.<\/p>\n

“Many have started small- and large-scale businesses, expanded existing ones, raised family education and hospital funds, and even acquired fixed assets,” he says.<\/p>\n

A case in point to demonstrate the benefits of group resource mobilisation is manifested in a group of internally displaced persons (IDPS) in Naivasha.<\/p>\n

In July last year, 810 IDPs pooled the Sh10,000 stipend they received from the government and purchased a 10.5 acre piece of prime land at a cost of Sh8 million.<\/p>\n

Brought together by common experiences and needs, they set up and registered a cooperative society — Jikaze Self-Help Group.<\/p>\n

Ms Christine Ndinda, one of the group’s board members says: “Sh10,000 in an individual’s pocket cannot start a serious venture. But when we pooled the amount from 810 pockets, we had Sh8.1 million. This amount will give us a small plot each.”<\/p>\n

The land can be subdivided into plots for the members, be transformed into an agri-business venture, and at the same time can be used as collateral to access credit for an expanded investment venture.<\/p>\n

“If IDPs can show the way out of individual misery, what is the potential of a group of intelligent adults with a regular income?” she asks.<\/p>\n

Mr Ambroce Wafula, a real estate consultant with Smart Win Enterprises, says the culture of partnership is taking root among professionals.<\/p>\n

“Gone are the days when merry-go-rounds were associated with village women,” he says. He adds that most of his clients are registered partnership groups.<\/p>\n

“Some of the areas the members invest in is land. They purchase land in areas where urbanisation is taking shape and within a short period, the land value appreciates and is sold off. The profit is shared among them and is in most cases super dividends,” he says.<\/p>\n

Mr Wafula adds that if embraced by income earners, it is a model that can deal poverty a major blow.<\/p>\n

He explains that the formula is simple because it shortens the period between saving and attaining a development goal.<\/p>\n

<\/p>\n

\nMore News on allAfrica.com<\/strong><\/legend>\n<\/fieldset>\n

AllAfrica – All the Time<\/p>\n

\n<\/div>\n<\/p>\n

Continue reading here:
\n‘Chamas’ Find Their Way Into the Office<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mwangi Muiruri 15 June 2011 Nairobi \u2014 Merry-go-round, a savings method that is popular among women groups outside the formal bracket, has found its way into the offices of salaried staff from large companies. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-441798","post","type-post","status-publish","format-standard"],"yoast_head":"\n'Chamas' Find Their Way Into the Office - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"'Chamas' Find Their Way Into the Office - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Mwangi Muiruri 15 June 2011 Nairobi \u2014 Merry-go-round, a savings method that is popular among women groups outside the formal bracket, has found its way into the offices of salaried staff from large companies.\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/nation180.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"‘Chamas’ Find Their Way Into the Office\",\"datePublished\":\"2011-06-15T19:27:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/\"},\"wordCount\":651,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/allafrica.com\\\/img\\\/static\\\/publishers\\\/minibanners\\\/nation180.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/\",\"name\":\"'Chamas' Find Their Way Into the Office - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/allafrica.com\\\/img\\\/static\\\/publishers\\\/minibanners\\\/nation180.jpg\",\"datePublished\":\"2011-06-15T19:27:26+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/06\\\/15\\\/chamas-find-their-way-into-the-office\\\/#primaryimage\",\"url\":\"http:\\\/\\\/allafrica.com\\\/img\\\/static\\\/publishers\\\/minibanners\\\/nation180.jpg\",\"contentUrl\":\"http:\\\/\\\/allafrica.com\\\/img\\\/static\\\/publishers\\\/minibanners\\\/nation180.jpg\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"'Chamas' Find Their Way Into the Office - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/","twitter_card":"summary_large_image","twitter_title":"'Chamas' Find Their Way Into the Office - Ghanamma.com","twitter_description":"Mwangi Muiruri 15 June 2011 Nairobi \u2014 Merry-go-round, a savings method that is popular among women groups outside the formal bracket, has found its way into the offices of salaried staff from large companies.","twitter_image":"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/nation180.jpg","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/"},"author":{"name":"","@id":""},"headline":"‘Chamas’ Find Their Way Into the Office","datePublished":"2011-06-15T19:27:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/"},"wordCount":651,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/#primaryimage"},"thumbnailUrl":"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/nation180.jpg","inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/","url":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/","name":"'Chamas' Find Their Way Into the Office - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/#primaryimage"},"thumbnailUrl":"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/nation180.jpg","datePublished":"2011-06-15T19:27:26+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2011\/06\/15\/chamas-find-their-way-into-the-office\/#primaryimage","url":"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/nation180.jpg","contentUrl":"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/nation180.jpg"},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2011\/#website","url":"https:\/\/www.ghanamma.com\/2011\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/441798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/comments?post=441798"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/441798\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/media?parent=441798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/categories?post=441798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/tags?post=441798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}