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Susu Account
Susu collectors are a traditional form of financial intermediaries in Africa, predominantly in Ghana. For a small fee they provide an informal means for Ghanaians to securely save and access their own money, and gain some limited access to credit, a form of microfinance. Money looked after for an individual by a Susu collector is held in a Susu account. The sus informal accounts used in the Caribbean and among West Indian immigrants to the United States are similar. History In the Akan language susu means "plan". In this context, planning with a group of people to save a certain amount of money. The concept is also known in Jamaica as ''Paadna Money''(Partner Money) or simply as ''Paadna''. The 1990s saw significant growth in the number of clients per susu collector in other African countries, and growth in the size of individual deposits, according to Aryeetey and Udry (1995). Today, Susu collectors provide many Ghanaians who would otherwise be denied credit with access to mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Susu (informal Loan Club)
A susu or sou-sou or osusu or asue (also known as a merry-go-round, Partner or Pawdna in Jamaica and sol in Haiti)) 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. The name is used in Africa (especially West Africa) and the Caribbean. The basic principle is that each member of the group makes a standard contribution to a common fund once per some time period. Then each period the total contributions are disbursed to a single member of the group. The recipient changes each period in a rotating fashion such that all the members of the group are eventually recipients. Participants of a susu do not make a profit, but receive their contributions as a lump sum and is a forms of savings clubs. Overview A member who receives a distribution early on effectively receives a loan. They collect a larger sum of money early and "repay" as they make contri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Intermediary
A financial intermediary is an institution or individual that serves as a middleman among diverse parties in order to facilitate financial transactions. Common types include commercial banks, investment banks, stockbrokers, pooled investment funds, and stock exchanges. Financial intermediaries reallocate otherwise uninvested capital to productive enterprises through a variety of debt, equity, or hybrid stakeholding structures. Through the process of financial intermediation, certain assets or liabilities are transformed into different assets or liabilities. As such, financial intermediaries channel funds from people who have surplus capital ( savers) to those who require liquid funds to carry out a desired activity (investors). A financial intermediary is typically an institution that facilitates the channeling of funds between lenders and borrowers indirectly. That is, savers (lenders) give funds to an intermediary institution (such as a bank), and that institution gives those f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.Christen, Robert Peck Christen; Rosenberg, Richard; Jayadeva, Veena. ''Financial institutions with a double-bottom line: Implications for the future of microfinance''. CGAP, Occasional Papers series, July 2004, pp. 2–3. ID Ghana is an example of a microfinance institution. Microfinance initially had a limited definition: the provision of microloans to poor entrepreneurs and small businesses lacking access to credit. The two main mechanisms for the delive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Susu (savings)
A susu or sou-sou or osusu or asue (also known as a merry-go-round, Partner or Pawdna in Jamaica and sol in Haiti)) 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. The name is used in Africa (especially West Africa) and the Caribbean. The basic principle is that each member of the group makes a standard contribution to a common fund once per some time period. Then each period the total contributions are disbursed to a single member of the group. The recipient changes each period in a rotating fashion such that all the members of the group are eventually recipients. Participants of a susu do not make a profit, but receive their contributions as a lump sum and is a forms of savings clubs. Overview A member who receives a distribution early on effectively receives a loan. They collect a larger sum of money early and "repay" as they make contri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Indian
A West Indian is a native or inhabitant of the West Indies (the Antilles and the Lucayan Archipelago). For more than 100 years the words ''West Indian'' specifically described natives of the West Indies, but by 1661 Europeans had begun to use it also to describe the descendants of European colonists who stayed in the West Indies. Some West Indian people reserve this term for citizens or natives of the British West Indies. See also * Caribbean people * History of colonialism * History of the West Indian cricket team * Spanish colonization of the Americas * West Indian American Caribbean Americans or West Indian Americans are Americans who trace their ancestry to the Caribbean. Caribbean Americans are a multi-ethnic and multi-racial group that trace their ancestry further in time mostly to Africa, as well as Asia, the ... References Further reading * * * {{Caribbean-stub Caribbean people Demonyms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Akan Language
Akan () is a Central Tano language and the principal native language of the Akan people of Ghana, spoken over much of the southern half of Ghana. About 80% of Ghana's population can speak Akan, and about 44% of Ghanaians are native speakers. It is also spoken in parts of Côte d'Ivoire. Four dialects have been developed as literary standards with distinct orthographies: Asante, Akuapem, Bono (collectively known as Twi), and Fante; which, despite being mutually intelligible, were inaccessible in written form to speakers of the other standards until the Akan Orthography Committee (AOC)'s development of a common Akan orthography in 1978, based mainly on Akuapem Twi. This unified orthography is used as the medium of instruction in primary school by speakers of several other Central Tano languages, such as Akyem, Anyi, Sehwi, Fante, Ahanta, and the Guan languages. The Akan Orthography Committee has worked on the creation of a standard orthography. With the Atlantic slav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overseas Development Institute
ODI (formerly the 'Overseas Development Institute') is a global affairs think tank, founded in 1960. Its mission is "to inspire people to act on injustice and inequality through collaborative research and ideas that matter for people and the planet." It does this through "research, convening and influencing, to lead new thinking and future agendas to deliver transformational change." Its Chair is Suma Chakrabarti. History In 1960 ODI began in small premises in Regent's Park, central London and operated a library devoted to international development issues as well as performing consultancy work and contracts with the Department for International Development (then known as the Overseas Development Agency) of the UK government. Since then it has moved several times and is on Blackfriars Road. Since 2004 it has had a Partnership Programme Arrangement with the Foreign, Commonwealth and Development Office. The institute also developed a strong focus on communications and 'bridging ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Union
A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit organization, nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provision of Credit (finance), credit, and other financial services. In several African countries, credit unions are commonly referred to as SACCOs (Savings and Credit Co-Operative Societies). Worldwide, credit union systems vary significantly in their total assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with hundreds of thousands of members and assets worth billions of US dollars. In 2018, the number of members in credit unions worldwide was 274 million, with nearly 40 million members having been added since 2016. Leading up to the financial crisis of 2007–2008, commercial banks engaged in approximately five times more subprime lending relative t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rotating Savings And Credit Association
A rotating savings and credit association (ROSCA) is a group of individuals who agree to meet for a defined period in order to save and borrow together, a form of combined peer-to-peer banking and peer-to-peer lending. The first academic description of ROSCAs was by Shirley Ardener in 1964. F. J. A. Bouman described ROSCAs as "the poor man's bank, where money is not idle for long but changes hands rapidly, satisfying both consumption and production needs." They are also known as '' tandas'' in Latin America, '' chama'' in Swahili-speaking East Africa, ''kameti'' (کمیٹی) in Pakistan, ''visi'' among Gujaratis in India, ''ekub'' in Ethiopia, ''partnerhand'' in the West Indies, ''cundinas'' in Mexico, ''hagbad'' in Somalia, ''stokvel'' in South Africa, '' susu'' in West Africa and the Caribbean, ''hui'' () in Chinese communities in East and Southeast Asia, ''hội''/''hụi'' in Vietnam, ''paluwagan'' in the Philippines, '' gam'eya'' (جمعية) in Egypt, ''gye'' () in South Kore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Action Aid
ActionAid is an international non-governmental organization whose stated primary aim is to work against poverty and injustice worldwide. ActionAid is a federation of 45 country offices that works with communities, often via local partner organisations, on a range of development issues. It was founded in 1972 by Cecil Jackson-Cole as a child sponsorship charity (originally called Action in Distress) when 88 UK supporters sponsored 88 children in India and Kenya, the primary focus being is providing children with an education, further the human rights for all, assisting people that are in poverty, assisting those who face discrimination, and also assist people who face injustice. ActionAid works with over 15 million people in 45 countries to assist those people. Today its head office is located in South Africa with hubs in Asia, the Americas and Europe. ActionAid was the first big INGO to move its headquarters from the global north to the global south. ActionAid's current strateg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance In Africa
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.Christen, Robert Peck Christen; Rosenberg, Richard; Jayadeva, Veena. ''Financial institutions with a double-bottom line: Implications for the future of microfinance''. CGAP, Occasional Papers series, July 2004, pp. 2–3. ID Ghana is an example of a microfinance institution. Microfinance initially had a limited definition: the provision of microloans to poor entrepreneurs and small businesses lacking access to credit. The two main mechanisms for the deliver ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rotating Savings And Credit Association
A rotating savings and credit association (ROSCA) is a group of individuals who agree to meet for a defined period in order to save and borrow together, a form of combined peer-to-peer banking and peer-to-peer lending. The first academic description of ROSCAs was by Shirley Ardener in 1964. F. J. A. Bouman described ROSCAs as "the poor man's bank, where money is not idle for long but changes hands rapidly, satisfying both consumption and production needs." They are also known as '' tandas'' in Latin America, '' chama'' in Swahili-speaking East Africa, ''kameti'' (کمیٹی) in Pakistan, ''visi'' among Gujaratis in India, ''ekub'' in Ethiopia, ''partnerhand'' in the West Indies, ''cundinas'' in Mexico, ''hagbad'' in Somalia, ''stokvel'' in South Africa, '' susu'' in West Africa and the Caribbean, ''hui'' () in Chinese communities in East and Southeast Asia, ''hội''/''hụi'' in Vietnam, ''paluwagan'' in the Philippines, '' gam'eya'' (جمعية) in Egypt, ''gye'' () in South Kore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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