Susu (informal loan club)

A susu or sou-sou or osusu or asue (also known as a merry-go-round, Partner, or Pawdna in Jamaica; sol in Haiti;, san in Dominican Republic, and Njangi in Cameroon) is a form of rotating savings and credit association, a type of informal savings club arrangement between a small group of people who take turns by throwing hand as the partners call it. The name is used in Africa (especially West Africa) and the Caribbean. Each person contributes periodically the same amount to a common fund; the total contributions are disbursed to a single member of the group. Each time, the recipient changes so that eventually all members are recipients. Participants of a susu do not make a profit. Instead, small periodic contributions are turned into a larger lump sum of the same value, with the susu acting as a savings club.

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