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Participants of a susu do not make a profit This is known as a “hand.” Instead, small periodic contributions are turned into a larger lump sum of the same value, with the susu acting as a savings club.
A susu is a rotational savings system where members’ contributions follow a fixed schedule Susu is made up of groups of family members or friends, each of them agreeing to paying, or “throwing”, a specified amount of money each week Participants, often a group of family members or trusted friends, agree to contribute.
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Susu is a form of group savings and credit association that has been practiced for centuries in various cultures around the world, most notably in west africa and the caribbean. A susu represents an informal financial arrangement These systems operate as a form of collaborative saving and lending, typically found within various cultural groups globally. A susu is a rotating savings practice in which a group of family members or friends contribute an equal amount of money, popularly known as a “mano,” on a weekly, biweekly, or.
While these kinds of sociedades are common among immigrant communities around the world, the word susu comes from the yoruba word esusu, which denotes an. A type of informal savings and credit club arrangement between a small group of people who take turns “throwing hands.” coined “susu” in west africa and the caribbean, other.
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