As a Kenyan (or probably you have lived in Kenya for some time), you probably know someone who is in a chama (or maybe you are in one). Chamas are exclusive informal financial societies, known for their ability to help their members grow however, for every successful chama, another is arguing about who stole last year’s chama savings or who has not made their contributions for several months. 

Are you considering joining a chama? According to Irine Jepleting, ABC Bank Customer Service Officer, before you join the “Team manifesting chama 2026,” here’s a guide to the dos and don’ts to protect your hard-earned money. First, know the chama’s constitution, even if there are just 4 members, a chama without rules is a recipe for disaster. 

Secondly, who are the members? Are they people you can trust with your finances? Just because you hang out or they are your meme-sharing friends, doesn’t mean they are financially responsible. Make sure every member has the discipline to commit, as Irine put it, “It’s better to start with three serious people than 15 jokers.”

We are in 2025, not 2000, so ditch the notebook for record keeping. Go digital with your chama and avoid the drama of “Ulituma pesa lini?” and keep it transparent. You don’t have to go far, at ABC Bank, we have a chama account that can help you with transparency. 

While chamas are good, it’s important to keep in mind that not everyone has good intentions, and some may join a chama and disappear with your money. That’s why vetting the team is crucial. Also, some lack the discipline of deadlines. To counter this, have a penalty for missed payments and late contributions.

“While chama’s are a great way to save your money, ensure you have a team goal (eg an investment plan), not just passing money like a game,” advises Irine, noting that a chama should help you achieve goals you naturally wouldn’t if doing alone or would have taken you longer, like land purchase, starting a business or investing in assets. 

Finally, if serious about your chama’s wellbeing and future, we’ve got your back. ABC Bank chama account is tailor-made to fit chamas’ needs, from zero account maintenance fee to lending facility and availability of multiple signatories for added security. Call us on 0701700700 or visit your nearest ABC Bank branch and we’ll walk with you every step of the way.