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How for Set Share Prices nd Deposit Rules - Community Savings and Lending - Krio

You wan for know more about Share Prices, Savings Deposit Rules nd the Social Fund?

Written by Kelvin Logan
Updated over 2 years ago

All Community Savings and Lending Groups dem get a 'Share Price'. This na the base amount way the group go dae save, nd den kin set am to any amount way the group members dem choose.

All member dae purchase one share any time den dae contribute a savings amount equal to the Share Price nd way time reach for group cash-out, den dae receive amount based on how many shares den bin don purchase.

Inside Community Savings and Lending groups the value of a share kin rise nd fall by the member loans nd fees way den dae pay.

With MiKashBoks, the first thing na for set the Share Price nd then choose how much each member kin save during each meeting.

You kin watch the whole process na ya:

If you look na ya, you go see say the Share Price na 10 Leones.

Next, you go pick the total deposit due per member on each transaction date.

You get three choices:

  1. Any amount: any member kin contribute any amount to savings, even zero, member say, the app go dae track wetin each member dae contribute, nd then corresponding shares.

  2. A flat amount: all member go dae contribute the same amount each meeting with the missed contributions tracked as money owed - in this case, you go pick a factor of the share rate - for example, 10, 20, 30, etc.

  3. A range: you kin set a range as a factor of the share rate way contributions must fall within, for example, 10 NLe to 40 NLe. Any member kin contribute any whole amount within the range.

The Social Fund dae operate under the same rules, instead of you set a Share Price, you go only set how much due per member each week.

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