The history of Ajo or traditional “Group Savings”, although not well documented is a common practice widely adopted across the continent. Ajo was majorly popularised in Africa as a result of the expansion of urbanisation and informal settlements which raised the need for easily accessible finance and credit services.
The evolution of modernism over the years has had to accommodate the ever-growing requirements of Nigerian communities, specifically, supporting each other and giving those without credit and other conventional banking services, a place to save and take out loans.
Importance and Benefits
OxyAjo is an automated savings trust which offers a reliable and trustworthy organisation aimed at securing your savings and maximising the rewards as well as various investment opportunities. The collected funds may be invested in profitable ventures to grow your savings and boost your income. At the end of a given time-frame, the funds are redistributed to the individual or members who had initially contributed. OxyAjo operates in a decentralised manner making it flexible for users to contribute and withdraw their savings.
Whatever your financial structure, whether as a private or public sector worker, there’s an option for everyone. Licensed financial institutions such as Oxymon Solutions offer a variety of credit and savings products and services, like OxyAdvance and OxyAlert, as well as the extra security of being regulated by the appropriate authorities.
Therefore, it is critical to research and make well-informed choices to guarantee the security of funds.