Dictionary

susu en · NOUN

Etymology

Possibly from West African Igbo isusu / esusu (“pooling the funds”) or Yoruba esúsú (“revolving loan fund”).

Meanings

1. An informal money pooling scheme practised in Africa, the Caribbean, and some immigrant communities.
   • Irene empathized with her susu members as immigrants who were earning low wages in New York, but there appeared to be some socioeconomic advantages to being an organizer that she was not acknowledging. 2011, Tamara Mose Brown, Raising Brooklyn: Nannies, Childcare, and Caribbeans Creating Community, NYU Press, →ISBN, page 128:
   • The informal credit sector has been very active in Ghana and covers a range of activities known as susu, including individual savings […] 2004, Mr. Rodolphe Blavy, Mr. Anupam Basu, Dr. Murat  Yülek, Microfinance in Africa: Experience and Lessons From Selected African Countries, International Monetary Fund, →ISBN, page 9:

Forms

Hypernyms

ROSCA