How the Equb actually works

Step 1

Send your name, phone, a copy of your kebele ID, and the tier you want on Telegram.

Step 2

An existing member vouches for you; rounds above 1,000 ETB also need a signed guarantor.

Step 3

Pay in cash or by telebirr; the receipt is posted on Telegram and your name enters the register.

Step 4

You enter the draw at the next Sunday meeting; when your turn comes the payout is handed over the same day.

Payment

50 ETB per week after a three-day grace period, paid into the reserve account.

Guarantee

If a member misses twice the guarantor covers it; a guarantor cannot themselves be behind on payments.

Exit

A member who has not yet won gives written notice and is refunded, less 2%, when the round closes.

Records

Two records are kept — the secretary’s handwritten book and the Telegram log — and they are reconciled every Sunday.

Disputes

Any complaint is raised at the meeting and settled by a majority vote, with the decision written into the minutes.