Savings groups are gaining momentum fast and their popularity is growing, especially among women - where they are popularly known as chamas. However, not all savings groups are right for you, and neither can all be trusted. Also, if you have been invited to join a group, do your research first before committing yourself or your money to the savings group. If you plan to join a group you do not know, ensure it is registered. The best part about registering your savings group is safety, in that the account will have more than one signatory.

Source: Standard Digital September 20, 2020 06:00 UTC