Nairobi , Kenya ( CNN ) -- At the up-market `` Urembo '' hair and beauty salon , in uptown Nairobi , entrepreneur Maureen Murunga has her sights set on expanding her business . The growth is important to Murunga , who bought the business a year ago , without the help of big banks . `` A local small bank gave me my first break , '' she says . `` But it was n't without a lot of tears , tantrums , kickings and insisting that they would have to support me , '' she adds . Murunga , who has a background in banking , says it is difficult for women to get credit from banks to start businesses . `` The bank will limit the financing to the security available , '' says Murunga . `` For the women in this region , that is the challenge , because that will involve things like land , which traditionally families will give that to men . `` So for women , creativity is a big part . '' That need for creative financing led Murunga to start an investment group , or `` chama '' as they are popularly known in Kiswahili . Unlike the traditional revolving fund groups that merely saved money , theirs is an active investment group . Registered as Unathi Investment Limited , the 21-women in the group , mostly in their late 30s , are drawn from all sectors , ranging from finance to information technology to legal . Their common goal is to build a solid retirement nest egg . Each member 's monthly minimum contribution is about $ 200 but the more they contribute the more shares they get . Murunga says when it comes to new members they look for someone who is interested in their long-term strategic vision and thus willing to pump in money for 10 years without getting any out . Collectively , they have been able to purchase prime real estate , trade shares in the stock market and invest in unlisted , growing companies . `` The chama has been very exciting in that it 's been much easier for us to quickly invest in big deals which would not have been possible if I tried to do ( it ) myself , '' says Murunga . Another member is Nancy Kanyango , the current chair and a legal expert working with the government . She says shared responsibility is important . `` We hold each other accountable in terms of our resources , ensuring that we have something aside for our retirement , '' she says . But even with their group 's achievements in just three years , Kanyango is quick to point out that it 's not all been smooth sailing . `` All our personalities are different -- some people are fast at making decisions or have a greater risk appetite than others , '' she says , and the members must balance their commitments to the chama with busy nine-to-five jobs . Banking analysts say three out of every five Kenyans is part of a chama and banks have been moving to profit from this niche market . Some banks have even created products that specifically target chama groups , with favorable interest rates and sizeable loan potential . Joseph Okumu , a product manager with Bank of Africa , says : `` We 're an SME ( small and medium enterprise ) bank . We thought if we sit to get an SME that has grown 10 years we probably might miss out on the market , so we thought , let 's get these groups , empower them and grow them so that they become an SME from an early age . '' Though the group is run with a steady hand , the members still take time out to socialize , going back to the spirit of what brought them together : friendship . `` It 's about the money but also more than that , '' says Kanyango . `` We know each other ; we know each other 's family and what goes on in each of our lives , '' she adds . Now men are also forming their own groups or joining mixed-groups . But the women of the Unathi group say they 're a long way from allowing the men in . `` We made a deliberate decision that it would be a woman 's group '' , says Kanyango , `` just the dynamics of not mixing with men on that space . '' `` It 's our space , '' she adds with a laugh .
Kenyan women forming their own investment groups , known as `` chamas '' They aim to build a nest egg for retirement . Banking analysts say three out of every five Kenyans is part of a `` chama '' group that has invested in the stock market or other financial assets over the last year and half.