In some parts of Central Africa, this saving system is known as 'Tontine', 'Njangi', 'Likelemba'. A participant contributes a fixed amount of money each month to be saved over a fixed period of time. They receive the total of what they've saved at the end of the period. For example, if you save $200 per month for 10 months, you receive the $2,000 after just 2 months of contribution and then continue contributing $200 every month over the next 9 months.
Conditions to qualify
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How it works