Susu
Susu is a traditional savings system commonly practiced in various cultures, particularly in West Africa and among the African diaspora. It involves a group of individuals who contribute a fixed amount of money at regular intervals, such as weekly or monthly. The collected funds are then given to one member of the group in rotation, allowing each participant to receive a lump sum at different times.
This informal savings method promotes community support and financial discipline. Susu can help individuals save for specific goals, such as starting a business or covering unexpected expenses, while also fostering trust and cooperation among participants.