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About: Osusu     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : owl:Thing, within Data Space : dbpedia.org associated with source document(s)

Osusu (also known as Isusu) is a form of microfinancial capital accumulation found in Africa. "Osusus" (known as a tontine in francophone countries and Tanda in Latin American countries) are small groups such as in Sierra Leone 'where, for example, ten people put Le 5,000 in a pot and then one of the ten takes the resulting Le 50,000 for his or her own use, promising to put in Le 5,000 at the next group meeting to continue the process.' The money is collected on a daily, weekly, and/or monthly basis by what is known as a thrift collector. Thrift collectors are typically male.