Traditional systems usually do not charge interest or seek profit; the goal is mutual aid and providing members with a lump sum for large expenses like school fees, business capital, or ceremonies.
Members contribute a fixed amount (daily, weekly, or monthly). In each cycle, one member receives the entire "hand" or "pot" of funds.
In many West African urban centers, specialized "collectors" visit clients daily to collect small deposits for a nominal fee, acting as mobile microfinance intermediaries. Economic and Social Impact
The name is believed to originate from the Akan word meaning "small small".
Susu Savings Collectors - Competition or Cooperation in Benin?
Traditional systems usually do not charge interest or seek profit; the goal is mutual aid and providing members with a lump sum for large expenses like school fees, business capital, or ceremonies.
Members contribute a fixed amount (daily, weekly, or monthly). In each cycle, one member receives the entire "hand" or "pot" of funds.
In many West African urban centers, specialized "collectors" visit clients daily to collect small deposits for a nominal fee, acting as mobile microfinance intermediaries. Economic and Social Impact
The name is believed to originate from the Akan word meaning "small small".
Susu Savings Collectors - Competition or Cooperation in Benin?