Terms and Conditions for BomaRise Africa

1. Membership and Contributions

- Membership is open to any individual residing in the Republic of Kenya.

- The membership fee is a non-refundable one-time payment of KES 350.

- Members may save a minimum of KES 500 and a maximum of KES 10,000 per month, with the flexibility to contribute daily, weekly, or monthly.

- Couples and siblings may join as separate members, each with their own membership number and individual savings account. They may save towards the same shared goal or towards different goals, as each member prefers.

2. Interest on Savings

- Members will earn up to 15% interest per annum on their total savings.

- Interest shall be paid out semi-annually, at a rate of 7.5% per period.

3. Referral Commission

- Members shall receive a commission of KES 50 for every new member they personally recruit and register.

4. Withdrawal and Termination

- A member may terminate their membership and withdraw their accumulated savings by submitting a written notice at least 60 days in advance.

- A member may request to withdraw their savings after a minimum saving period of six (6) months from the date of their first contribution.

- Upon approval of a withdrawal request, the company shall settle the payment via one of the following methods:

  - Mobile Money (e.g., M-Pesa),

  - Bank Transfer (to the member's registered bank account), or

  - Cheque (issued to the member's registered name).

- The member shall indicate their preferred payout method at the time of submitting their withdrawal request. The company shall process the payment within a reasonable timeframe, subject to verification of the member's identity and account details.

5. Inactivity and Loss of Membership

- Any member who fails to make a savings contribution for three (3) consecutive months shall automatically lose their membership.

- In the event of such loss of membership, the member shall forfeit their membership fee and any accrued interest, but may withdraw their principal savings contributions, subject to the 60-day written notice and six-month saving period provisions outlined in Clause 4.

6. Purpose of Savings

- All savings are intended to support three core development goals: decent housing, well digging, and/or pit latrine construction, as defined below:

  a) Decent Housing – Shall include both semi-permanent and permanent houses, with a roofing capacity of up to 50 iron sheets, each measuring 3 metres in length. This covers structures built with quality materials suitable for safe and dignified habitation. This is subject to member’s preferred design, additional iron sheets or resources.

  b) Sanitation Facilities – Shall include two pit latrines with a bathroom, fully enclosed by a wall to ensure privacy, hygiene, and safety.

  c) Well / Borehole – Shall include the digging, excavation, and safeguarding of the water source using local building bricks to protect the structure from collapse and contamination.

7. Our Services

- In addition to mobilizing savings for member projects, BomaRise Africa offers the following professional services to members and the general public:

  - Home Construction Works – Full-scale building and construction services.

  - Home Landscaping – Design and beautification of outdoor spaces.

  - Borehole Drilling – Professional water drilling and installation services.

  - Supply of Building Materials – Provision of quality construction materials including sand, cement, steel, timber, iron sheets, tiles, and more.

  - Jenga Boma Initiative – A community-driven program supporting affordable housing and infrastructure development.

  - Transport / Moving – Reliable logistics and haulage services for construction materials and household items.

  - Construction Equipment for Hire – Rental of tools and heavy machinery such as mixers, excavators, rollers, and scaffolding.

  - Project Management – End-to-end planning, supervision, and coordination of construction projects to ensure timely and quality delivery.

8. Company Financing of Projects

- BomaRise Africa shall contribute up to 10% of the total cost of an approved member project from its own income streams.

- For example, if a project costs KES 100,000, the company shall finance up to KES 10,000 towards that project.

- This financing is subject to project approval and availability of company funds, and shall be applied on a first-come, first-served basis per approved project.

9. Cluster Contributions to Projects

- Members are organized into clusters of up to 30 individuals, each led by an appointed team leader.

- For any approved project within a cluster or its locality, each member of that cluster shall contribute up to KES 2,000 towards the project.

- These contributions are in addition to each member's regular monthly savings and are meant to accelerate project completion and foster collective community support.

10. Payment Methods

- All payments, including membership fees, savings contributions, deposits, service fees, and cluster contributions, must be made via mobile money or bank transfer.

11. Member Dashboard and Profile

- Each member will have access to a personal dashboard that displays their deposit history, membership status, and withdrawal records.

- Member profiles shall include the following details: full name, phone number, physical address, email address, and a profile photo.

- Every member will be assigned a unique membership number for identification purposes.

12. Project Approval and Prioritization

- Projects shall be assessed and approved based on the following criteria, in order of priority:

  - Order of membership (earliest registrants first),

  - Urgency of need,

  - Unavoidable circumstances or emergencies (e.g., natural disasters or health crises).

13. Project Management and Supervision

- All approved projects will be managed and supervised by the company, in collaboration with appointed skilled members, suppliers, contractors, and casual laborers from the local community.

14. Skilled Member Categories

- Skilled members may include professionals such as masons, welders, carpenters, plumbers, interior designers, landscapers, well diggers, borehole drillers, gardeners, and general casual laborers.

15. Supplier Categories

- Suppliers may provide materials including, but not limited to: building sand, bricks/blocks, timber, ballast, steel, cement, iron sheets, roofing nails, tiles, and other related construction materials.