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Osusu
{{Refimprove, date=April 2007 Osusu (also known as Isusu) is a form of microfinancial capital accumulation found in Africa. "Osusus" (known as a tontine in francophone countries and Tanda in Latin American countries) are small groups such as in Sierra Leone 'where, for example, ten people put Le 5,000 in a pot and then one of the ten takes the resulting Le 50,000 for his or her own use, promising to put in Le 5,000 at the next group meeting to continue the process.' The money is collected on a daily, weekly, and/or monthly basis by what is known as a thrift collector. Thrift collectors are typically male.United Nations Food and Agriculture Organization Document Repository Section 5.5 Savings and Contribution - http://www.fao.org/DOCREP/x0207e/x0207e06.htmMinisaving is a daily saving Platform that allows Individuals, Petty Traders and SME's to save from their daily sales. - http://www.minisaving.com/ Participants in the Osusu must pay the thrift collector a participation fee depend ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tanda (informal Loan Club)
A Tanda is the Latin American term for an informal rotating savings and credit association (ROSCAS). They are operated globally, but have over 200 different names that vary from country to country. This economic activity is practiced among various groups of people which are also known as ''cundinas'' (Mexico), '' susu/Osusu'' (West Africa and the Caribbean), ''hui'' (Asia), ''juntas'' (Peru), ''cuchubales'' (El Salvador and Guatemala), ''pollas'' (Chile), ''arisan'' (Indonesia), '' main kutu'' (Malaysia), ''pandeiros'' (Brazil), paluwagan (Philippines), Stokvel (South Africa), committee (India & Pakistan) or ''quiniela''. An English name for such an association is a partnerhand. In short, a tanda is a form of a short-term no-interest loan among a group of friends and family. Structure The tanda is one of the most commonly followed informal associations in Mexico with 31% of the population actively participating in one. A tanda may be managed in different ways. The way it usually wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Accumulation
Capital accumulation is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset with the goal of increasing the initial monetary value of said asset as a financial return whether in the form of profit, rent, interest, royalties or capital gains. The aim of capital accumulation is to create new fixed and working capitals, broaden and modernize the existing ones, grow the material basis of social-cultural activities, as well as constituting the necessary resource for reserve and insurance. The process of capital accumulation forms the basis of capitalism, and is one of the defining characteristics of a capitalist economic system.''Capital'', Encyclopedia on Marxists.org: http://marxists.org/glossary/terms/c/a.htm#capital Definition The definition of capital accumulation is subject to controversy and ambiguities, because it could refer to: *a ''net addition'' to existing wealth *a ''redistribution'' of wealth. Most often, capi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Africa
Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area and 20% of its land area.Sayre, April Pulley (1999), ''Africa'', Twenty-First Century Books. . With billion people as of , it accounts for about of the world's human population. Africa's population is the youngest amongst all the continents; the median age in 2012 was 19.7, when the worldwide median age was 30.4. Despite a wide range of natural resources, Africa is the least wealthy continent per capita and second-least wealthy by total wealth, behind Oceania. Scholars have attributed this to different factors including geography, climate, tribalism, colonialism, the Cold War, neocolonialism, lack of democracy, and corruption. Despite this low concentration of wealth, recent economic expansion and the large and young population make Afr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tontine
A tontine () is an investment linked to a living person which provides an income for as long as that person is alive. Such schemes originated as plans for governments to raise capital in the 17th century and became relatively widespread in the 18th and 19th centuries. Tontines enable subscribers to share the risk of living a long life by combining features of a group annuity with a kind of mortality lottery. Each subscriber pays a sum into a trust and thereafter receives a periodical payout. As members die, their payout entitlements devolve to the other participants, and so the value of each continuing payout increases. On the death of the final member, the trust scheme is usually wound up. Tontines are still common in France. They can be issued by European insurers under the Directive 2002/83/EC of the European Parliament. The Pan-European Pension Regulation passed by the European Commission in 2019 also contains provisions that specifically permit next-generation pension produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Francophone
French became an international language in the Middle Ages, when the power of the Kingdom of France made it the second international language, alongside Latin. This status continued to grow into the 18th century, by which time French was the language of European diplomacy and international relations. According to the 2022 report of the Organisation internationale de la Francophonie (OIF), 409 million people speak French. The OIF states that despite a decline in the number of learners of French in Europe, the overall number of speakers is rising, largely because of its presence in African countries: of the 212 million who use French daily, 54.7% are living in Africa. The OIF figures have been contested as being inflated due to the methodology used and its overly broad definition of the word francophone. According to the authors of a 2017 book on the world distribution of the French language, a credible estimate of the number of "francophones réels" (real francophones), that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sierra Leone
Sierra Leone,)]. officially the Republic of Sierra Leone, is a country on the southwest coast of West Africa. It is bordered by Liberia to the southeast and Guinea surrounds the northern half of the nation. Covering a total area of , Sierra Leone has a tropical climate, with diverse environments ranging from savanna to rainforests. The country has a population of 7,092,113 as of the 2015 census. The capital and largest city is Freetown. The country is divided into five administrative regions, which are subdivided into Districts of Sierra Leone, 16 districts. Sierra Leone is a constitutional republic with a unicameral parliament and a directly elected executive president, president serving a five-year term with a maximum of two terms. The current president is Julius Maada Bio. Sierra Leone is a Secular state, secular nation with Constitution of Sierra Leone, the constitution providing for the separation of state and religion and freedom of conscience (which includes freedom of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possess intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. Contexts which erode public confidence, such as the circulation of counterfeit money or domestic hyperinflation, can cause good money to lose its value. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Coast Of The United States
The West Coast of the United States, also known as the Pacific Coast, Pacific states, and the western seaboard, is the coastline along which the Western United States meets the North Pacific Ocean. The term typically refers to the contiguous U.S. states of California, Oregon, and Washington, but sometimes includes Alaska and Hawaii, especially by the United States Census Bureau as a U.S. geographic division. Definition There are conflicting definitions of which states comprise the West Coast of the United States, but the West Coast always includes California, Oregon, and Washington as part of that definition. Under most circumstances, however, the term encompasses the three contiguous states and Alaska, as they are all located in North America. For census purposes, Hawaii is part of the West Coast, along with the other four states. ''Encyclopædia Britannica'' refers to the North American region as part of the Pacific Coast, including Alaska and British Columbia. Although the enc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Africa
The economy of Africa consists of the trade, industry, agriculture, and human resources of the continent. , approximately 1.3 billion people were living in 54 countries in Africa. Africa is a resource-rich continent. Recent growth has been due to growth in sales in commodities, services, and manufacturing. West Africa, East Africa, Central Africa and Southern Africa in particular, are expected to reach a combined GDP of $29 trillion by 2050. In March 2013, Africa was identified as the world's poorest inhabited continent; however, the World Bank expects that most African countries will reach "middle income" status (defined as at least US$1,025 per person a year) by 2025 if current growth rates continue. There are a number of reasons for Africa's poor economy: historically, even though Africa had a number of empires trading with many parts of the world, most people lived in tribal rural societies; in addition, European colonization and the later Cold War created political, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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