Paper
ROSCA and ASCRA: Beyond the Financial Landscape
How have ROSCAs and ASCRAs evolved in Africa?
10 pages
Demonstrates the ability of financial self-help groups, ROSCAs and ASCRAs, to adapt to changing environments. Provides case study examples from Cameroon, Senegal and Nigeria. Outlines:
- Differences in basic design features between Rotating and Accumulating Savings and Credit Associations (ROSCAs and ASCRAs);
- Institutional characteristics and multi-functional nature of these two types of associations;
- Evolutionary analysis reflecting changes in the broader economic, social and political context: for example, how these associations adapted to a massive influx of migrants.
Proposes that studying the evolution of financial mutual aid in context can open new avenues for fruitful exploration and show that these indigenous self-help models work.
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