Susu: Capitalizing development from the bottom up

Abstract

Susu, a common way of saving money in the majority of developing countries, has migrated to developed nations. Originating in the 18th century in Ghana and Nigeria, susu is an indigenous method of microfinance, benefiting poor and minority groups. Significantly, susu relies on social capital as collateral, enhancing solidarity and building community. When American public assistance programs deny benefits to immigrants, susu becomes an important source of savings. The differentiation of susu from other savings strategies in the United States is explored.