Patsy Liverpool © Monday, October 29-2018
One of my favourite African customs that
is still practiced by many Africans in the Diaspora is an informal banking
system that has its roots in West Africa. This system although familiar is
known by various names in the countries where it is practiced. In Jamaica this
system is known as “partner”; in Guyana, “box hand”; in Barbados, Meeting; Haiti,
“min”; in Surinam, Kasmoni; in Trinidad and Tobago Sou-sou.
The name Sou-sou comes from the Yoruba
term “esusu” and originated in Nigeria, West Africa from where the ancestors of
many in the Diaspora were taken. The Yoruba esusu was transported to wherever
the Africans were enslaved in the Caribbean, Central America, North America and
South America. Susu is also part of the Akan culture of Ghana, West Africa;
another area from where many of our ancestors were taken and scattered. Although
the susu system is now not well known to African-Americans, it remains popular
among many African Caribbean, African Latino and African immigrant communities
from Central and South America. Some use it to start businesses, others for substantial
purchases, vacations, down payments on properties and cars and even to pay for
the education of their children.
A sou-sou (also spelled sou, su-su or
susu) is like an informal rotating savings club, where a group of people get
together and contribute an equal amount of money into a weekly, bi-weekly or
monthly fund. The total pool when collected, sometimes known as a hand, is then
paid to one member of the club on an agreed-on schedule. In every sousou group
there is a banker/treasurer who will collect the contributions of the members.
The banker/treasurer will also create a payout roster, or members can request
to receive their hand at any given date during the cycle. Everyone agrees on
how much and how often they want to contribute. The pool rotates until all
members have received their hand/share. The cycle would begin again after ten
weeks when each member has received their “hand.” Weekly contributions can be
any amount and run anywhere from $100-$5,000. Hands can range from
$1,000-$15,000, depending on the size of the susu. Any member who can afford
it, can also double their contribution and get paid two hands in one cycle.
The susu banker/treasurer assumes the
responsibility for collecting and keeping track of the contributions and is
someone who is trusted and respected throughout the community. In most cases the
susu members also trust and know each other well. There is no interest on the
money so the partners who “throw box” will always collect the exact amount that
they contribute. In some cases once each member has received a hand, the susu
is dissolved. A similar group (with the same or different participants) is
usually reformed to continue its activities under similar conditions. Susu
hands are used for various reasons including cash flow management, raising seed
capital to start businesses, buying a vehicle, vacation funds or securing home
mortgages.
In ages gone by, long ago and far away,
housewives who did not have an income and those in rural communities who had no
access to traditional banks used sou-sous. The women would save a little bit of
money from whatever their husbands gave them and put it in a sou-sou to be able
to treat themselves when they received a hand. Some of those women also helped
their families to buy a house or started businesses.
In this centuries-old tried and trusted practice
built on trust, equality and integrity that originated in West Africa, the
prevailing and most important component is trust. Whether it is called box
hand, sousou, partner, meeting or kasmonie trust is important. If you decide to
join a susu it is important to ensure it is one with trusted friends, family
members or co-workers who understand the importance of honouring the commitment;
the integrity and trust.
Patsy
Liverpool © Monday, October 29-2018
No comments:
Post a Comment