Group Saving with OurPesa Harness the strength of collective saving with OurPesa’s secure and innovative platform.
Empowering Communities, One Group at a Time
At OurPesa, we understand the power of working together to achieve financial goals. Group saving has been a vital practice in many communities, enabling individuals to support one another and grow financially. We bring this time-tested tradition into the digital age, making it more secure, efficient, and convenient. Whether it’s for community development, personal goals, or collective investments, OurPesa provides the platform to make group saving easier than ever.
What is Group Saving?
Group saving involves individuals pooling their resources to save toward common or individual goals. This collective effort creates a stronger financial safety net for all involved. OurPesa offers a digital platform where group members can easily manage, track, and contribute to group savings accounts, all from their mobile devices or computers.
Types of Group Savingwith Ourpesa
Cooperative Saving
In a cooperative saving model, group members regularly contribute money into a collective pool, which can then be used for various purposes like investments, loans to members, or community projects. This model is great for larger groups aiming to generate collective wealth or fund major ventures. Cooperative saving promotes shared responsibility, trust, and long-term financial growth.
- Ideal For: Communities, associations, or groups with a long-term focus.
- Key Benefits: Access to group loans, collective investment opportunities, and real-time tracking of contributions.
Merry-Go-Round (Rotational Savings)
A merry-go-round or rotational savings system allows group members to take turns receiving the entire contribution amount from the group at regular intervals. Each cycle, a different member receives the lump sum, which can be used for personal or family needs, projects, or business. This type of saving helps individuals achieve short-term financial goals.
- Ideal For: Groups looking for a rotating system where each member benefits periodically.
- Key Benefits: Each member gets immediate access to funds when it’s their turn, and the process fosters mutual trust and cooperation.
Random Draw (Chama or Savings Lottery)
In the random draw model, also known as Chama or a savings lottery, members contribute regularly to a collective pot, and at set intervals, one or more members are randomly selected to receive the lump sum. This method adds an element of excitement while ensuring everyone benefits over time.
- Ideal For: Social groups, friends, or colleagues looking to make saving fun while still supporting one another financially.
- Key Benefits: Adds a fun, lottery-style element to group saving while still providing financial security to all participants.
Key Features of Our Group Saving Solution
Loan Opportunities
Once your group has built up enough savings, OurPesa offers loan opportunities to help members meet urgent financial needs or invest in business ventures.
Secure Digital Account
Open a group savings account that all members can access from their smartphones or computers.
Flexible Contributions
Set up flexible contribution amounts and schedules that suit your group’s preferences—whether it's weekly, monthly, or based on your chosen saving model.
Real-Time Tracking
Easily track contributions, withdrawals, and balances in real-time, ensuring full transparency for all group members.
Trust and Accountability
Every transaction is recorded on our secure blockchain-powered platform, providing full accountability and ensuring funds are safe from mismanagement.
Automated Reminders
Never miss a payment again with automated contribution reminders sent directly to members.
How Group Saving Works on OurPesa
Create your Group
Start by setting up your group’s digital savings account on the OurPesa platform. Choose your saving model—cooperative, merry-go-round, or random draw—and invite members to join.
Contribute Regularly
Each member contributes according to the agreed-upon schedule. Contributions can be made from mobile wallets, bank accounts, or other payment methods.
Track Progress
Our platform provides real-time updates on the group’s total savings, individual contributions, and available funds.
Withdraw or Invest
Once your group reaches its savings goal or selects a member to receive funds, withdrawals or investments can be made in a secure, transparent process.
Benefits of Group Saving with OurPesa
Top Up Account Easily
Easy Collaboration
Easy Collaboration
Whether you’re saving for a community project, an event, or a shared investment, OurPesa makes collaboration seamless and stress-free.
Build Trust
Build Trust
The transparency of our system ensures that everyone knows exactly where the group’s money is and how it’s being used.
Access to Loans
Access to Loans
Once your group has built a solid savings record, OurPesa offers group loan options to help you achieve your financial goals.
Digital Convenience
Digital Convenience
Manage your group’s savings from anywhere at any time using the OurPesa mobile app or web platform.
