Savings Groups

Savings Groups

The names for the savings group phenomenon vary by country: what is called Stokvel in South Africa, Chama in Kenya and Susu in Ghana may differ in detail, but the concepts have striking similarities. SGs have a strong cultural connotation, as illustrated by the link between Kenya’s Chamas with Harambee – Swahili for “all pull together” and so central to Kenyan culture that it is enshrined in the country’s coat of arms.

Although various studies exist on the concept, such as Gugerty (2007) on Chamas in Kenya and Osei-Assibey, E. (2015) on Susu in Ghana – or the various studies mentioned in SEEP (2017), it is hard to find a comprehensive systematic study from a pan-African perspective, or one that relates the traditional social construct to modern enterprise development. SG4Africa is a pan-African initiative that aims to fill this gap.

Improve food security, sustainability and quality of life.