Loans
Njangi Financing
AMACCUL offers Njangi Financing to support communities and groups in accessing financial resources for various collective projects and initiatives. Njangi, also known as Esusu or Tontine, is a traditional savings and credit scheme where members contribute funds regularly and take turns receiving lump-sum payments.
Key features of Njangi Financing include:
- Community-Based: Njangi Financing is tailored for community groups, associations, and other collective entities seeking financial assistance for group projects, events, or investments.
- Flexible Contributions: Members contribute funds regularly to the Njangi, and each member receives a lump-sum payment at predetermined intervals, providing a flexible source of financing.
- No Interest: Unlike traditional loans, Njangi Financing does not involve interest charges. Instead, members contribute and receive funds based on the agreed-upon terms and rotation schedule.
- Trust-Based System: Njangi operates on a trust-based system where members rely on mutual trust and solidarity to fulfill their financial commitments and ensure the smooth functioning of the scheme.
- Empowerment and Collaboration: Njangi Financing promotes community empowerment and collaboration, allowing members to leverage collective resources for mutual benefit and socioeconomic development.
