What is your new year resolution? Is it to form a Chama and invest together with your friends?
You can decide to do a Chama the kienyeji way or you can decide to be structured and have a long term view of what you want to achieve. ‘
To do Chama the official way, two aspects are involved. One is the legal part where you get registered as a legal entity. This the lawyer can help you or you can copy what another Chama has done. The other is how to manage the complexities of a group. This you have to figure out yourselves. Fortunately, in the course of my postgraduate studies, I have come across a tool that can be helpful to already existing chamas and those that are yet to be formed for fear of the group intricacies.
This tool, called a team charter, will enable you to “shortlist” eligible persons who can form part of your Chama then you can approach them when you are ready.
- Name 1
- Name 2
- Name 3
- Name 4
- Name 5 etc
Our common goal is to invest together towards………
- Team Work
There are several obstacles that may hinder our progress. However, understanding
these obstacles and being pro active about the solutions will help to avoid potential
conflicts. These potential conflicts may include:
- Personal commitments eg family, studies
- Poor communication
- Unresolved conflicts
We expect that team members
- Be on time
- Contribute to the discussion
- Do his or her part.
- Not to come to the meeting drunk or take alcohol during the meeting.
The following rules have been agreed on when dealing with conflicts.
- Address all conflict with the team or individual head on.
- If you are struggling with something, speak out immediately.
- If you cannot complete a task, let the group know.
Meeting time and location
- Once every quarter at a certain venue…..
- Cell phones
Who we are
|Name||Strength||Values||Professional Background||Value to the Chama|
|Very organised||Work life balance||Forex trading|
|Motivating others||Respect||Real estate|
|Strong accounting background||Honesty||Internal audit control|
|Strong analytical skills||Hard work||Logistics|
Now that you have listed down the members you would like to have in your Chama and what contribution they will have, get you vision in order and approach them either together or one after another.
You can then modify this tool to fit into your specific chama.
Read more about CHAMA and other investment advice in this book.
Ps: The book, “The ABC of REAL estate Investment in Kenya” will make you a wiser investor.