Understanding the Chama Concept
Chama is not a new concept to the financial ecosystem. We discuss its origin, intention, emerging issues and relevance in today’s society.
Financial Literacy Program
The Source and Tenets of Social Empowerment and Development
The Financial Literacy Program is a series of sessions that teaches and empowers groups to make group financial decisions. It opens up the dynamics of money, the power of pool-funding and the economic importance of groups in social development. Our curriculum is broken down into 4 main parts, which simplifies the role of each member in the community financial infrastructure. We offer it to our groups as part of our financial inclusion program, and also outsource it to other like-minded organisations. To know more about this program, read the structure below, and even learn more on our blogs.
Curricula of Our Financial Literacy Program
Financial Accounting for Chamas
Despite its informality, a good chama must employ accounting best practices. We discuss what Chamas should consider when handling their books.
Legal and Taxation Laws in Chama
Are informal groups (Chamas) recognized under the Kenyan Law, what is their recourse, and how should they approach the issue of taxation?
The Road to Financial Inclusion
How do we grow in our small ways to financial liberty? What are our growth parameters, and how should we navigate this terrain?
Ready to Empower Your Group?
Join thousands of chamas already growing with Flynta CBS.
Why Our Literacy Program Stands Out
Growth
Flynta CBS is the only platform that fosters growth of its members by creating Investment opportunities.
Inclusive
Every team member can view and follow through the activities of the group, both operational and growth.
Integration
Our processes are incorporated with formal financial systems for concurrence and correspondence.
Community Based
Flynta heavily rely on funds pooling and communal cohesiveness to grow resources and capacity over time.
Affordable
We do not charge registration or account management fees. Our model only takes a fee on withdrawals.
Frequently Asked Questions on Our Financial Literacy Program
Is there a need to conduct financial literacy in Chamas?
Absolutely Yes. Chamas bring together different dynamics, and there is need to set precedence on what to do, how to do it and the overall expectations. Our program gives you an overview of the sector, your contribution towards its growth, and how to sustainably grow as a member or a leader in your respective Chamas.
How different is it from the nominal literacy programs?
Chama financial literacy program localizes the concepts to a person’s view in a group setting. It points out the individual and collective responsibility in Chama management, and how to deal with group dynamics. Other financial literacy programs are unidirectional; focuses on money as an source, rather than an enabler, to financial inclusion.
What is the contribution of Flynta’s Financial Literacy Program to Financial Inclusion?
Its contents are summarized to capture the essence of funds-pooling and how to grow it into a viable venture. Be it for a specific goal or a broader vision, our financial literacy program captures the breadth of the informal financial ecosystem, and how it is impacting social development.
How do we join this program, and how much does it cost us?
1. Chamas that have signed up on our Chama Management Software gets the program for free as part of their induction. However, subsequent sessions are charged at half price.
2. Chamas that are not part of Flynta’s CBS can get the sessions at a cost. Click on the Pricing page to see the rates.
Can I get certification for participating in the Financial Literacy Program?
Since the program is custom-made for groups, there is no certificate offered. However, the learning and impact the program has on the well-being of Chamas is immense, and we advise Chamas to enroll and profit from it.