The American Corner of the Kisumu National Library was a hub of activity this past Saturday on the 28th as 45 women from various groups affiliated with Armstrong came together for Chama Chat.
An initiative of Cellulant, a digital payments service provider, Chama Chat is a monthly event that seeks to empower and convert the participants into active informal savings groups on the Tingg mobile application.
Previously known as Mula, the Tingg application allows the women to track and manage their funds without having to step into a financial institution.
In partnership with Rafiki Bank, the application allows the women to contribute money through the application, view contributions, pledges, and any pending amounts.
Njeri Wangari, Cellulant communications officer took the women through what Tingg app is, how it was conceptualized and what impact it can have on the women’s lives.
“We want to simplify the financial aspect of managing your chamas without going through the traditional route of banking,” she said.
An analysis by Financial Sector Deepening (FSD) Kenya reported in 2016 that 41% of Kenyan adults were in a Chama compared to 32% who hold traditional bank accounts.
Chamas also offer alternatives that are not in traditional banking such as zero fees and low transaction costs due to the proximity of their members.
A culture of savings discipline is also cultivated among the members, with most members not literate in financial matters.
It was an interactive session where the women were able to answer questions but also be corrected on some of the misconceptions they had concerning the Chama option on the Tingg app.
However, the service is accessible to all with a majority of the women saying they didn’t own or have access to smartphones.
Tingg offers a USSD service where one can dial *369# and access the same services through the messaging option.
Represented Armstrong affiliated groups included Oora Bimos, Sunking, Ti Gi Wiyi, Kar Rao and Alendu Wapendanao.
The event was organized by Koko Media, a digital marketing firm based in Western Kenya.