00:00Look, it's you two again. At this rate, I should probably have grey hair and a long beard,
00:06since you keep coming to me for sage advice. But let's talk about susu. You might know it as
00:11chamas, injangi or adashi. This is a traditional community-based savings system where trust is
00:18very important. Here's how it works. Imagine four of us form a group. In the first month,
00:24we all contribute the same amount of money into a pool or a kitty. In the first month,
00:30the full amount comes to me. In the second month, we all contribute again. And then the full amount
00:37goes to Rachel. Then the next person gets it. And then the next one, till everybody has had their
00:44turn. Simple, right? So why do this? Susu is especially useful in communities where access
00:51to banks is limited or where people need a lump sum of money for something important. It can help
00:57someone to start a business, pay school fees or handle an emergency. The members do not earn a
01:03profit on their contributions. Instead, the benefit is access to a larger amount of money at once
01:08and the shared support of the group, susu or chamas can be a lifeline for vulnerable people.
Comments