Seasons Greetings! While we continue to live with the specter of COVID and its seemingly endless variants, it is vital that we reflect on and declare our thanks for that which was good in 2021. My colleagues and I would like to express our heart-felt appreciation to our collaborators, advisors, program participants, supporters and sponsors, as well as to friends and family, without whom we simply could not fulfill this mission.
Relating to the mission, for those who missed last month’s Global Entrepreneurship Week virtual event, please check out the highlights here.
In this month’s edition of the !nnovation Monthly, we are pleased to share quite a lot of stories of innovation in the Caribbean. The world is beginning to see that there is much more to this region than might be believed or expected. We are innovators!
Enjoy the holidays; and may your 2022 bring peace, joy, love, good health, and prosperity.
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Business: Banking: Much gratitude to the Caribbean for Boxhand, Susu and Partner:
— We now have humane systems of economic cooperation
Stabroek News – 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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