When a number of people come
together to form a group (commonly known as chama), the main objective is
usually to use it as a channel through which they can invest their money.
Once members of a chama agree on the reason for buying land, then comes in the question of the channel through which they can acquire land. Part of the reason why this question comes up is because, like any other person, members of a chama may not want to see their hard-earned money being swindled.
This much-sought-after assurance by Chamas and other investors, is the foundation that has built Olive. We have provided a platform for all investors and we make sure to facilitate them realize their dreams,” Peter Gitau, a director at Olive assures.
As part of the procedure, the company only requires the certificate of the chama’s registration to kick start the process. In terms of guaranteeing the members of the safety of their money, three names of the group’s officials appear on the title deed in trustee of the members, but should there be any form of transaction involving the piece of land, all members should apprehend their signatures.
Another consideration made by chamas before settling on the investment vehicle that will address their need, is the issue of the size of the land. Depending on how many members a chama may have, or even whether they are financially upright, a chama may require to invest in areas where there are vast parcels of land.
Olive has proven beyond reasonable doubt, that it is a go-to real estate company as it addresses this need with ease. “Our parcels of land in Kimuka area of Ngong Kajiado, may stretch to the horizons. We have served even huge organisations that needed large parcels of land. We never disappointed and never shall we,” attests. Gitau
Even though chamas are built to pool resources together, the value of land may be way higher than the amount they may have collected. And even getting the balance may perhaps take the members a longer period of time, and even becomes costly. Obviously, the question that bothers the members is to find a property company that has an alternative solution for how they can be financed to buy the property. Again, Olive comes in handy on this issue.
“Midas Credit has partnered with Olive. Through this working agreement, Chamas can pay some percentage of the value of land, and the rest to be paid in instalment of up to 18 months depending on the choice of the members,” elaborates Tabitha Mbuthia, a Manager at Midas Credit.
By the fact that the members decide to buy land through the chama means that they may have considered the use of that land. In most cases, members acquire property that they can develop their retirement homes. Chamas with this kind of desire have their problem solved at Olive.
The location of the company’s properties is ideal for retirement home development. There are good road networks, amenities are available within proximity and the construction materials are within reach. Overtime, through understanding the needs of chamas and addressing them with transparency, Olive has positioned itself to become the home of Chama investments.