A rotating savings group, often referred to as a "susu" (in West Africa), "tanda" (in Mexico), or ROSCA (Rotating Savings and Credit Association), is a traditional financial system where a group of people contribute a fixed amount of money regularly, and each member takes turns receiving the total collected sum. It’s a simple, trust-based way to save and access lump sums of money without needing a bank.

Here’s a detailed guide on how to organize and manage a rotating savings susu group:

1. Understand the Basics of a Susu

• How It Works:
• A group of people agree to contribute a fixed amount of money at regular intervals (e.g., weekly, bi-weekly, or monthly).
• Each member takes turns receiving the total collected sum (the "payout").
• The cycle continues until every member has received their payout.
• Benefits:
• No need for a bank.
• Encourages disciplined saving.
• Provides access to lump sums for emergencies or investments.
• Challenges:
• Requires trust and commitment from all members.
• Risk of default if a member fails to contribute.

2. Set Up the Susu Group

Step 1: Gather Members

• Invite trusted individuals (family, friends, or colleagues) who are reliable and committed.
• Ideal group size: 5–20 members (smaller groups are easier to manage).

Step 2: Define the Terms

• Contribution Amount: Decide how much each member will contribute per cycle (e.g., 50,
• 50,100).
• Frequency: Choose how often contributions will be made (e.g., weekly, bi-weekly, monthly).
• Payout Order: Determine the order in which members will receive the payout. This can be:
• Randomly assigned.
• Based on need (e.g., members with urgent needs go first).
• Alphabetical or agreed-upon order.
• Duration: Calculate how long the cycle will last (e.g., 12 weeks for 12 members contributing weekly).

Step 3: Assign Roles

• Group Leader/Admin: Oversees the group and ensures rules are followed.
• Treasurer: Collects and disburses funds (if not done digitally).
• Record Keeper: Tracks contributions and payouts