The joy of receiving your “Njangi” Savings @ecodesigns and @thegreens

Today was a day of happiness at @ecodesigns and @thegreens. A day, we shared what we have been saving for the past six months.

At @thegreens, we have a “Njangi”.

Njangi is an institutional practice whereby individuals decide to come together usually to form a group that meets on a regular basis for the purpose of saving and raising money for the mutual benefit of all participants in the njangi. The regularity of such meetings is usually pre-determined at the beginning of the njangi and could be weekly, bi-weekly, or monthly. During the meeting, members make financial contributions which are then handed over to one member of the njangi group every meeting. The amount of the financial contribution is pre-determined at the beginning of the njangi, and the winner of the njangi may be pre-determined at the beginning of the njangi or determined during each njangi meeting.

In March 2018, we started the The Greens Njangi with the sole purpose of being able to save money to assist each other as well as contribute money to assist each other.

The Greens Njangi had 4 core area;

Sinking Fund:

Sinking fund are contributions we make to assist members of our njangi in times of sad or happy events. Via our sinking fund, we have been able to assist one of our office neighbors who was involved in a car accident and hospitalized with 5000CFAF ($10), purchase our njangi books and materials, visit one of trainees guardians who put to birth and supported her with soaps worth $8, visited our sick trainees and given them fruits, as well as supported our Director of Training who lost the brother with $10.

Savings:

We encouraged our trainees to make and sell upcycled products so that they can be able to raise some money to save for rainy days and our savings was very successful.

Loans:

From our savings, we were able to give out loans to members of @ecodesigns and @thegreens who needed money in desperate times and this really helped.

Njangi

Every fortnight, 16 of us from @ecodesigns and @thegreens contribute 2500CFAF ($5)each and handover to one beneficiary among us in the form our njangi. The beneficiary receives 40,000CFAF ($80) to do his or her stuff. The njangi is still ongoing and so far, 12 persons have benefited from this njangi initiative and we still have 4 more beneficiaries to complete the njangi.
The goal of the njangi was to encourage trainees and trainers of @ecodesigns and volunteers of @thegreens to learn how to save for rainy days and so far, the njangi has been very successful.

Today, members received their savings and we are glad that it was a great success.

At @ecodesigns, we are also training our trainees to be financial wise and responsible.

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