The Esusu is a rotating savings and credit association (ROSCA) said to have first spread from the Ohafia Igbo. A group of trusted people — often market women, neighbours or relatives — each pay a fixed sum at regular meetings, and the whole pot goes to one member in turn until everyone has received it. It runs on social capital and fear of communal disgrace for default, giving interest-free lump sums without a bank.
Economy & Politics Today · 2/3
Esusu: the rotating savings club
Saving together, trusting each other.
