Have you ever asked yourself where the renowned Chama phenomenon came from?
Well, this Chama arose out of the idea of harambee, which means “all together”, in the late 1990s.Originally, chamas tended to be exclusively women’s groups, but as chamas started to grow in sophistication and success, men started participating in chamas as well.
The original chamas were designed as Rotating Savings where the members agree to contribute a fixed amount at each physical meeting for a fixed period such as one year or so. At each meeting the funds are collected up and certain members are paid the full amount of the collected money on a rotating schedule.
Away from the analog Chama, Flexpay brings you a virtually organized chamas/groups of savers that run for 6 months for phases one and two respectively. The first phase runs from January to june and is disbanded in late June while the second one runs from July to December and is disbanded in late December.
During the disbursement, each saver receives the total amount saved within the phase duration. They are liberty to choose to get back the amount in lump sum or check out from any of our partner merchants.
Flexpay Chamas are divided per contribution, one joins the chama that fits their budget. We have chamas of Ksh 1,000, 2,000, 3,000,4,000 all the way to Ksh. 10,000 and all contributions are done monthly.
To join the Flex Chama:
- Dial 38430#
- Select option 3 Flex chama.
- Select option 1 Jan to June Chama
- Select your preferred chama Uzuri @1k Fadhili @1.5k
Amani @2k Salama @3k
Furaha @4k Umoja @5k
- Enter the deposit amount
- Proceed to Making payments
Join the Flex Chama today and haverst the fruits of your savings.