In a turn of events that can only be applauded, OLX is now working with chamas across the country, bringing the power of technology and advances in online trading within the reach of chama groups. Piloted in Nairobi, OLX has been engaging various Chamas in the county, teaching them how to use OLX and leverage it to raise money for any financial needs their groups may have. Once the chamas have been introduced to the OLX platform, they are trained as individuals and as a group on how to navigate the app and OLX as a whole.
One of the underlying principles of a chama is for members to save money which they can then invest in assets, property, art, or plough back into their businesses. When people join chamas, they would want to invest in assets that appreciate in value over time. The power combination of OLX and chamas will help members make sense of their investments by giving them a chance to liquidate depreciating items in their homes, generate some income and take it to their chama for investment in assets that are appreciating. With this brilliant idea, instead of borrowing money to invest in chamas, members can generate the money from their own homes by selling off unused household items on OLX.
Furthermore, a lot of chama members are also business owners and they can, and are taking advantage of the OLX platform to sell the services and products of their businesses online. Miss Nyangor’, a chama member and OLX user explains, “Interestingly, we have come across a new way of advancing our businesses, making money and investing back in our chama. Most of us are in business, and we just started posting our products and services on OLX. We have been able to sell paints, padlocks and other merchandise online. Even I couldn’t believe that such products could be sold online,”.
With OLX’s countrywide reach and given the fact that there are chamas in just about every county, one can already see the very promising future of this collaboration.