Sales, Savings & Loan Program
Ummah Community Magazine is a youth economic empowerment program supporting local youth to generate income through commission payable on magazine sales. Through the magazine sales program and commission payable local youth will be able to save part of their commission to a common pool from which members may be able to borrow youth friendly interest free loans to support their personal and business development plans.
Commission Payable on Magazine Sales
Youth members of the magazine economic empowerment program will be required to actively market and sell the magazines to fulfill monthly set targets. A generous commission at the rate of KES 50 shall be payable for each magazine sold through this program.
Regular Monthly Savings
For each magazine sold KES 20 shall be deducted as savings from commission earned.
Each Member shall be required to save a monthly minimum of KES 900
In cases where a member fails to sell enough magazines to meet minimum monthly savings an equivalent monthly savings top up amount shall be deducted further from commission earned.
Where a member fails to sell even a single magazine in a given month then they shall be required to make their own effort to pay the stipulated monthly minimum savings of KES 900.
Delayed monthly contributions to the group’s savings kit shall attract a 10% penalty for each delayed month until the third month.
Failure by a member to offset monthly outstanding savings after the third month shall lead to automatic suspension of the member’s participation in the savings program as well as a magazine sales program.
Suspended members shall be given a period of three months to raise total outstanding savings upon which their participation shall be restored.
Where a member fails to have their status restored they shall have their total savings reimbursed and their membership status terminated altogether.