**Steem4Nigeriaccelerator Contest Week 126: My experience with daily contribution collectors (DCCs)
Chancing upon this contest, my first reaction was to laugh out loud as we have had several both pleasant and unpleasant encounters with daily contribution people in my house.
As the economy continues to play pick a side, with the ever increasing high cost of goods and services, people are bound to spend more than they’ve budgeted. This is where akawo contributors come in to help, nevertheless they can either be a blessing or one’s worst nightmare depending on who you meet .
From the persistent and continued walking up and down in the market, to the small bags they wear on their waists, to the overfriendliness down to how they stalk a customer, it would be hard not to know the daily contributors popularly called akawo people. These people are a relentless set of hustlers who must, like every other hustling human make their daily living.
My first experience of the akawo trouble was when I overheard my younger sister and mum complaining bitterly to themselves one evening how an akawo person had disappeared into thin air with their collective two hundred and fifty thousand naira (250k) they had both saved up with her , and this was just my mum and sister, of course she had carted away millions in people’s hard earned saved up money.
Story goes that either she used it to invest in her wedding or visa settlement issues, but till I write she never returned to that market because why would she??? Is premium beating a joke to you??😂😂
This is just one story, I’ve heard of cases where the akawo person died, who would you get your money from, when there’s no legally binding agreement??
I cannot recommend nobody to them because it’s a mixed lot. You think someone is good and trustworthy,the next minutes they’ve absconded with one’s money. Of course the person referred will come seeking the referee. It is like a game of cards, never quite predictable.
This doesn’t cancel the fact that there have been akawo or cooperative systems that paid the users at the end of the stipulated time, but really, the way it’s operated in places I’ve seen, it’s not a trustworthy scheme as there are no legally binding structures to the system or consequences for failure to pay up.
Daily contribution is a scheme that helps business owners save up money on a daily basis for a particular goal - be it personal, family or business projects.
Some akawo schemes have a running system of giving food packages at the end of a stipulated time instead of money so while everybody pools in their funds, they buy food items in bulk at subsidized rates and share. In a country like Nigeria that is facing daily increase in prices of goods and services, businesses need to have fall back saving systems to curtail excessive spending and have savings on the go.
I would advise businesses to join daily contribution as the benefits are huge but at the same time, they shouldn’t join mindlessly, they should seek out cooperative akawo businesses that are government backed and have fail safe investments to guarantee refunds of their money if the akawo business goes south as is the case most times in these ventures.
There is a saying that once bitten, twice smarter. Anything that involves finances that’s not been dashed or given away freely should have a written agreement as life is full of unexpected circumstances. This is why I advised earlier that when seeking an akawo contributor to partner with, seek those who are government recognized and have invested funds in case of any issues later.
If the relative has no idea of the transaction ongoing between the two parties, there’s no binding law on the person to pay back, as far as no written agreement was made and signed. That relative can ask you to go collect your money from who you gave it to and they’d be in the right. 😂😂
X participation
https://x.com/ngoziozurumba/status/2026772451753873888?s=46
¡Holaaa amiga!🤗
Para mí es bastante triste ver que el nivel de confianza hacia las personas lo hemos perdido. Esto, sin lugar a dudas es una evidencia de que la honestidad se perdió y, lamentablemente los recaudadores son los primeros en faltar a su ética.
Te deseo mucho éxito en la dinámica... Un fuerte abrazo💚
Your post is written in a very realistic and bold manner. You have described both the positives and negatives of the daily contribution collector system with great boldness, especially the incident involving the woman who ran away with the money is eye-opening. You rightly point out how dangerous it can be to do financial transactions without a written agreement. Also, you made it clear that if the system is organized and under government supervision, it can be beneficial for entrepreneurs. Your style is serious but also full of light humor, which makes the writing more interesting.
Yes there are positives and negatives to this daily contribution system and if done right will benefit more people.