A Chama can be defined as a group of people with a common mindset and ideology who come together to achieve a particular goal or objective.
Chamas have become a key investment enabler for many Kenyans. Both the low and middle income earners have formed them, and they have helped many achieve their investment dreams.
Thousands of Chamas in Kenya have continued to invest in the real estate industry and their success can be attributed to a number of things as shown below:
- Choosing the right Chama members
Successful Chamas in Kenya have mastered the art of having the right members with like-minded goals from the word go. If you are thinking of forming a Chama to invest in the real estate industry in Kenya, gather the right members from the beginning.
- Having a clear vision
If you do not have a clear vision, you end up making little progress or no progress at all. Do not form a Chama for the sake of having one, rather, a successful Chama has a clear vision that enables them to focus on one achievable goal. They do not combine so many activities that take up their resources and time, and make them unable to achieve any.
- Electing industrious leaders
The most successful Chama leaders are industrious in ensuring the Chama makes progress. They do so by paying attention to details as well as keeping their members motivated, inspired, and encouraged to achieve their goals. Having an industrious leader will help the Chama make progress.
- Having clear rules for the Chama
Investing in real estate in Kenya as a Chama means you will need to save intentionally and be committed towards achieving your goals of investing. Successful Chamas have a set of rules that govern their activities and make them productive.
- Prioritizing savings and investments
Real estate investment in Kenya requires disciplined savers who are intentional in their investments. Chamas that have succeeded have always been intentional when making savings on a regular basis.
- Avoiding distractions from a few Chama members who won’t cooperate
As much as you will be willing to make progress as a Chama, sometimes you will not be able to come to a unanimous agreement. At times not all members will agree to an idea proposed in the group, however good the idea might be. Successful Chamas test and implement ideas that majority of the group members agree with.
- Working with a genuine real estate company in Kenya
As a group, you have worked too hard for your money just to lose it anyhow. When deciding which company to invest with, Daykio should be at the top of your list. Successful Chamas are keen on identifying a genuine real estate company to invest with such that their investments remain secure.
With all the above put into consideration, the continued interest in the Kenyan property market by both local and international players, continued investment in infrastructure, and improvement of the legal environment, the Kenyan real estate sector is definitely poised for further growth in the long term. It guarantees return on investment for your Chama.
