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Susu collectors are represented by an apex organisation, with whom 850 are registered, though it is estimated another 150 unregistered collectors operate in the North. Whereas banks in Ghana offer high-value, long-term loans, Susu collectors can offer low-value advances or credit in the short term (usually less than a month) that is interest free.
A susu or sou-sou or osusu or asue (also known as a merry-go-round, [1] Partner, or Pawdna in Jamaica; [2] sol in Haiti;, [3] san in Dominican Republic, [4] and Njangi in Cameroon [5]) is a form of rotating savings and credit association, a type of informal savings club arrangement between a small group of people who take turns by throwing hand as the partners call it.
Susu (informal loan club) Susu collectors; T. Tanda (informal loan club) Tanomoshiko This page was last edited on 18 January 2016, at 20:33 (UTC). Text is available ...
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a susu is also a very common and popular economic feature of the caribbean and in caribbean cultures abroad. there is some info here and probably more on the internet but i haven't had time to really look. the concept was discussed today in one of my classes (the professor is trinidadian and the class is abt the caribbean) and was also once featured in an episode of "the people's court".
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