Saving Circles drive global innovation and entrepreneurship by letting people save, invest and access low-cost loans.
They’re called Tenda in Latin America, Hui in China, Chit Bishi Funds in India and Investment Clubs in the West. In Kenya, they’re called Chamas.
Kenya has over 1,000,000 Chamas. They’re vital to the country’s social and economic fabric, with collective savings accounting for 46% of Kenya’s GDP.
As well as letting people save, some Chamas offer low-cost loans to start and grow businesses, or to improve social infrastructure through transport, farming, health and education projects.
And, as 75% of Kenyan adults use M-Pesa Mobile Money in daily life, familiarity with digital currencies and mobile payments is already well established.
Chamapesa makes managing Chamas easier and more secure. Creating a digital record of transactions makes bookkeeping more transparent, which reduces error, fraud and theft.
Chamapesa builds on the Chama ecosystem, and is designed to support Chamas through:
IMMUTABLE LEDGER - ENHANCED
SECURITY AND REDUCED FRAUD
EASIER GROUP GOVERNANCE
Chamapesa supports Members with a new, community-based identity model.
It supports activities that benefit the Chama, like making assurances and guarantees to others, increasing overall saving levels, prompt loan repayment, and introducing new Groups and Members.
Senior software engineer, financial
cryptographer and inventor of the
Mobile payments entrepreneur, with a decade’s experience in telecoms, financial services and mass-transportation.
Digital currency veteran and inventor of the Distributed Ricardian Contract.
Civil Litigation, Merger & Acquisitions, and Corporate Services.
Co-founder of Chamapesa, and Kenya’s leading Bitcoin evangelist.
Retired Member of Parliament. Former Leader of the Opposition. Minister responsible for Telecommunications reform in Bermuda.
Highly experienced trader, increasingly focused on activism.
Human-centred design and business strategy.
International Corporate Law, leading the Bar Association’s dialogue on blockchain-related legal issues.
Highly-experienced Governance Architect.