Tag Archives: Box-hand. Susu. Esusu. Meeting Turn. Sol. Lodge. Partner.

Business: Banking: Much gratitude to the Caribbean for Boxhand, Susu and Partner:

— We now have humane systems of economic cooperation

October 25, 2021 – By Caroline Shenaz Hossein

Box-hand. Susu. Esusu. Meeting Turn. Sol. Lodge. Partner. These are some of the vernacular names for systems of banking co-operatives that Caribbean people have been doing for more than a century—these systems are known by academics as rotating savings and credit associations, or ROSCAs for short.

ROSCAs aren’t new to many of us with Caribbean born parents living in the diaspora. My great-grandmother, Maude Gittens, was a street caterer who lived  in Sangre Grande, Trinidad. But she was also a well-known Susu “Banker Lady.” Susu is a local name for a ROSCA. It’s the same name used in Ghana, West Africa — which in fact, is an original source for these co-ops. And Susu can be found among the diaspora outside of Africa and the Caribbean, so in your towns and cities.            Continue reading

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