ChamaPesa helps social savings groups and their members to manage their accounting on the phone, fund their account with mobile money, and make transfers to other members using multiple currencies, or other financial instruments including shares, forex, bonds, etc. It also enables family members in the diaspora to participate in the chama and remit funds back home.
Social savings groups are the primary means of capitalizing small and medium business in Africa and India. ChamaPesa is a micro-trading system that enables savings groups to buy and trade shares in their own group as well as other savings groups that are doing speciality investments like real estate, transportation (taxis & buses) and agriculture.
ChamaPesa was patterned after the current habits of savings groups in East Africa, and is primarily intended for the African marketplace. We may release the app under different brands for other markets in the future.