The word "Susu" has different origins and meanings, including the Mande people and language of West Africa, a term of endearment in some African and Asian cultures, and the word for "milk" in Indonesian and other Austronesian languages. It is also the name of an informal West African and Caribbean savings club.
Terms like Stokvels (South Africa), Susu (Ghana), and Mukando (Zimbabwe) as forms of Rotating Savings and Credit Associations (ROSCAs) that have long provided financial resilience in African communities. Far more than informal savings clubs, these associations embody the philosophy of Ubuntu, emphasizing reciprocity, solidarity, and collective vitality. Historically rooted in women’s cooperatives, they have supported farming, education, health care, social obligations, and small-scale entrepreneurship, while also strengthening collective bargaining power and food security. Their adaptability is evident in the wide variety of stokvels in South Africa and in the integration of susu collectors with formal banking in Ghana, bridging informal and formal economies. By pooling risks and resources, these groups function as community safety nets that empower women, build resilience, and sustain livelihoods. As they expand and interact with financial institutions, questions arise about how to preserve their community-driven ethos while scaling their transformative potential.
Illustrator: Mogau Kekana