Abota

, 151, 153–154

Abota of Objects

, 156–157

Accumulated Savings and Credit Associations (ASCAs)

, 15, 25–26, 102–103, 163–165, 181, 195

Adashi

, 196

Addis Ababa

, 122–124

Addis Ababa Saving and Credit Cooperative Union (AASCCU)

, 122, 126, 130

membership

, 126–127

Advans Ghana

, 136

Africa

, 1

entrepreneurial ability in

, 7–8

middle class in

, 14–16

savings groups in

, 2

African Development Bank (AfDB)

, 14

African Development Foundation (ADF)

, 94

Aga Khan Foundation (AKF)

, 23, 183–184, 187

Agaliawamu

, 261

Age International

, 23, 27–28

Agence française de développement (AFD)

, 69–70

Agência de Promoção de Microfinanças (APM)

, 152

Agência de Supervisão de Actividade de Poupança e Microcrédito (ASAPM)

, 152

Agriculture

, 151

Ajo

, 208

Ajo Plus Account

, 209

success and challenges

, 210

Alajo

, 196–197

Alliance du Crédit et de l’Epargne pour la Production (ACEP)

, 219–220

Amasachina

, 139

Apoio à Emergência e Desenvolvimento da Microfinança (‘APED-MF’)

, 152

Associação de Mulheres de Atividades Económicas (AMAE)

, 158

Association of Partially or Fully French-Language Universities (AUPELF)

, 218

Asun

, 196

Asunafo

, 136

Auction method

, 77

Awach

, 127

Bafatá

, 151

Bank for International Settlements (BIS)

, 242

Bank of Africa Burkina Faso (BOA-Burkina)

, 70, 72

Bank of Ghana

, 142

Banking Commission of WAMU

, 69

Banking system in Cameroon

, 76–77

Banks

, 23, 151

Banque Lambert

, 98–99

BCEAO

, 69

BenzoMoney

, 144

Betim

, 89, 91

Beyond Credit

, 201

BezoSusu platform

, 144

Boctrust Microfinance Bank Ajo Plus Account

, 209–210

Boctrust Microfinance Bank Limited

, 208–211

Bonabagagaware

, 262

Boto

, 88

Botu

, 87–88

Brong-Ahafo region

, 136

Burial stokvels

, 240–241

Burkina Faso

case study

, 70–72

cross-cutting themes

, 69–70

economic effect

, 65–67

ecosystem for financial inclusion

, 68–69

savings groups in

, 62–63, 68

social results

, 67–68

Business

, 263

Bwakisa carte

, 100, 105

Cabo Verde

economic outcomes

, 91–92

formal finance and savings groups in

, 89–91

social outcomes

, 92–93

traditional forms of social solidarity in

, 87

Cameroon

economic impact of saving groups

, 77

lessons from Cameroon case studies

, 78–84

savings groups in

, 75–77

social impact

, 77–78

Canchungo

, 151

Capital market

, 135

CÁRITAS

, 89

Catholic Relief Services (CRS)

, 22–23, 62

Central Bank of Nigeria (CBN)

, 205, 208

Centre for Grassroots Economic Empowerment (CGEE)

, 204

economic outcomes

, 208

Centre for Scientific Research (CNRS)

, 221–222

Chamapesa

, 171

Chamas

, 1, 164–166

objectives

, 167–169

Chamasoft

, 171

Chango app

, 171

Chita

, 239

Chitu

, 239

CITY HABITAT

, 89

Commercial banks

, 69

Commercial tontine

, 217

Communities

, 78

memberships

, 225

microfinance model

, 97–98

Community Agents (CAs)

, 188

Community Development Trust Fund (CDTF)

, 202

Community of Savings and Internal Credit (CSIC)

, 62

Community Women Association of Nigeria (CWAN)

, 202

Company and Intellectual Property Records Office (CIPRO)

, 253

Competences

, 33

additional competences in context of NGOs

, 41

entrepreneurship

, 40–41

ethical

, 37

financial

, 36–37

Congolese financial environment

, 98

Consultative Group to Assist the Poor (CGAP)

, 163

Consumption

, 13

Cooperative for Assistance and Relief Everywhere (CARE)

, 21, 135

International

, 22–24, 262

MMD/VSLA Model

, 23–25

Cooperative Regulations 9531

, 261

Cooperatives

, 126–127

Cooperatives Act CAP112

, 261

Coordinating skills

, 37–38

Corporate Affairs Commission (CAC)

, 205

Cotton producer groups (GPCs)

, 72

Council for Scientific and Industrial Research of the Savannah Agricultural Research Institute (CSIR-SARI)

, 141

Credit

, 263–264

Credit access

organisation and structure

, 205

risk identification and mitigation strategies

, 207

settings/location

, 204–205

social outcomes

, 207

women empowerment through

, 204–208

Credit and Saving with Education Plus (CSE+)

, 106–107

Credit Fund

, 159

Credit Officers (COs)

, 204

Credit Union Software (CUSOFT)

, 138–139

Credit unions

, 135–136

in Ghana

, 138–139

Credit Unions Association (CUA)

, 138–139

Crèdito para Empresarios Rurais (CRER)

, 181

Cultural dimension

, 243

Cumulative Savings and Credit Association (CSCA)

, 62

Daffiama

, 138–139

Daika Village

, 200–201

Decentralised financial systems (DFS)

, 69, 160

Decision-making

, 45–46

Democratic Republic of Congo (DRC)

, 97

case study

, 106–109

literature

, 103–105

relations with regulator

, 109–113

savings group models

, 99–103

South-Kivu

, 105–106

Deposit Taking Institutions (MDIs)

, 261–262

Deposit-taking institutions (MDIs)

, 262

Deposits

, 75–76

Développement International Desjardins (DID)

, 63–64

Digital financial services

, 183, 187

Digital skills

, 39–40

Diokere Endam

, 224

Disasters Emergency Committee (DEC)

, 27

Distress sale

, 66

DIVUTEC

, 155–156

Djuda

, 87

Djunta-mon

, 87

Dutch Netherlands Bank

, 237

e-kit

, 170

e-recording app

, 170

E-ROSCA

, 202

East African Common market

, 262

East African sub region

, 261–262

Eastern and Western Cape savings groups

, 239

Economic Community of West African States (CEDEAO)

, 151

Economic opportunities

, 118

Edo

, 198

Education

, 33, 45–46

Ekibiina

, 261

Ekitebe

, 261

Empowerment. See also Women’s empowerment

, 45, 117, 140, 224

domains

, 48

Entandikwa

, 262

Entrepreneur

, 16

Entrepreneurial ability in Africa

, 7–8

Entrepreneurship

, 221, 226, 263

competences

, 40–41

ESSEC Douala Employees’ Insurance Fund

, 78–79

economic consequences

, 81

functioning

, 79–80

social consequences of ESSEC mutual fund

, 80

Esusu customers

, 210

Ethical competences

, 37

Ethnic groups

, 195

European Union (EU)

, 181

Eventual Special Funds

, 159

Expresso

, 227

FAMI-PICOS

, 89, 93–94

Families

, 87, 153–154

Femmes D´eveloppement Entreprise en Afrique (FDEA)

, 220–221

FH. See Freedom from Hunger (FFH)

Fibre and Textiles Society (SOFITEX)

, 72

Fidelity Bank

, 144–146

FinAccess survey

, 168

Financial capacity

, 153–154

Financial competences

, 36–37

Financial inclusion

, 13, 21, 97, 144–145, 179

dimensions

, 22

ecosystem in Burkina Faso

, 68–69

policies

, 47–48

Financial Institutions

, 261

Financial Institutions Act

, 262

Financial literacy, level of

, 17

Financial Sector Deepening in Africa (FSDA)

, 145

Financial Sector Deepening Mozambique (FSD-Moç)

, 187

Financial services

, 194

Financial system

, 76

Financial technology (FinTech)

, 143–144

Financial tontine

, 217

First National Bank

, 247

Formal finance

, 5

in Cabo Verde

, 89–91

Formal financial institutions (FFIs). See also Microfinance institutions (MFIs)

, 13, 195

linking savings groups to

, 18

Formal Financial Sector

, 242–244

in Burkina Faso

, 63–68

Freedom from Hunger (FFH)

, 106, 187

Frente de Alta Intensidade de Mao-de-obra (FAIMO)

, 93–94

Futuro Melhor

, 183–185

Gabú

, 151

Gender

, 47

equality gaps

, 46

Genesis Analytics

, 145

Geographic tontine

, 98, 101–102

Ghana

, 15, 135

FinTech and savings group in

, 143–144

leveraging digital technology among unbanked

, 143

profile of informal savers

, 142–143

Savings Group Bank Linkage Programmes in

, 144–146

savings groups in

, 136–139

school enrolment and sustained education in

, 142

social and economic outcomes

, 139–143

women’s empowerment and savings group

, 140–141

women’s financial inclusion

, 141–142

Ghana Interbank Payment and Settlement System (GHIPSS)

, 143

Ghana Microfinance Institutions Network (GHAMFIN)

, 142

Ghana National Union and Thrift Association

, 138–139

Ghanaian Cedi (GHC)

, 17

Ghanaian Central Bank

, 145

Global Affairs Canada (GAC)

, 181

Global Entrepreneurship Monitor study

, 263

Global Gender Gap Report (2018)

, 45–46

Gooi-gooi

, 235, 239

Grassroots organisations

, 219–220

Gross domestic product (GDP)

, 16, 151, 167–168

Gross savings rate

, 16

Group lending

, 210–211

Groupos de Poupança

, 181–182

Guinea-Bissau

, 151

DIVUTEC

, 155–156

informal savings groups in

, 153–154

microfinance sector in

, 151–153

Harambee

, 1

Health

, 46

High-budget Stokvels

, 241–242

High-end savings groups

, 13

Horbe

, 224

Household

, 46, 50

Households

, 179

Iddir

, 120

In-group/out-group dilemma

, 223–224

Inclusive Banking Department of Fidelity Bank

, 145

Inclusive finance

, 45–46

Income

, 14

Income-generating activities (IGAs)

, 61, 107

Indigenous financial services

, 194

Indlu

, 236–237

Informal financial institutions

, 195

Informal savings groups

, 5, 7, 33

in Guinea-Bissau

, 153–154

in Nigeria

, 195, 197–198

Informal self-aid financial structures

, 75

Institut National de la Statistique et de la Démographie (INSD)

, 63–64

Institution-based societies

, 127

Instituto de Desenvolvimento de Pesca de Pequena Escala (IDPPE)

, 181

Integrity

, 37

International Fund for Agricultural Development (IFAD)

, 181

International Labour Organization (ILO)

, 18

International non-governmental organisations (INGOs)

, 21, 117–118, 180

case studies

, 23–28

and savings groups

, 23

Interpersonal skills

, 40

Investment

, 163, 263

stokvels

, 241

Iquib

, 118–122

Iya-Egbe

, 206

Jirapa

, 138–139

Justice Development and Peace Commission (JDPC)

, 205

Kaleo

, 138–139

Kano

, 198

Kastina

, 198

Kebele

, 123–124

Kenya

, 163–164

Momentum Investment Savings Group

, 173–176

origin and cultural connotations

, 166–167

risks and benefits

, 169–170

savings groups in

, 164, 166, 170–171

technology in

, 170–171

Ustaafu Poa Women’s Savings Group

, 171–173

Kenya Association of Investment Groups (KAIG)

, 164

Kenyan Shilling (KES)

, 16

Ko

, 138–139

Kobwakisa

, 100

(Ko)Bwakisa carte

, 98–99, 101

Kogi

, 198

Kuapa Kooko

, 136

Kukula

, 181

Kwara

, 198

Kweyamba

, 261

Lagos

, 198

Lambert Bank

, 99

Lapa

, 236–237

Lawra

, 138–139

Leadership

competences

, 33

qualitative research methodology

, 33–36

results

, 36–37

with strategic foresight

, 38–39

Lending cycle

, 165

Leveraging technology and private sector engagement in Mozambican savings groups

, 186–190

Lift Above Poverty Organization (LAPO)

, 202

Ligablo

, 100

Likelemba

, 98, 101–103, 106

Likirimba

, 98

Livelihoods

, 21

Loans

, 263

default

, 207

disbursement

, 206

Local associations

, 62–63

Local government area (LGA)

, 198

Local Technical Service Provider (LTSP)

, 205

M-Kesh

, 183

M-Pesa

, 183

Mahodisana

, 235

Makerere University Business School (MUBS)

, 266

Maman

, 103–104

Mandjuandades Groups

, 157–158

MANIFEST

, 264

Market participation

, 221–226

Master Trainers (MTs)

, 188

Mata Masu Dubara (MMD)

, 23–24, 62

MaTontine

, 4, 227, 229

Mbotaay

, 224–225

Micro, small and medium enterprises (MSMEs)

, 208

Micro Finance Institutions (MFIs)

, 261–262

Micro Finance Support Center

, 262

Microcredit

, 89, 91–92

Microfinance

, 23, 75, 97, 136, 151, 194

sector in Guinea-Bissau

, 151–153

Microfinance institutions (MFIs)

, 62, 75, 97, 183, 262

Middle class

in Africa

, 14–16

savings groups

, 16

Migration

, 118

Minimum wage

, 18

Ministry of Finance

, 69, 142

Ministry of Health

, 264

Mitim

, 87–88

Mobile Money Interoperability (MMI)

, 143

Modus Operandi

, 206

Momentum Investment Savings Group

, 173–176

investments

, 174–176

objects and operations

, 174

Mozambique

, 179

literature review

, 182–183

savings groups in

, 180–181

social and economic impact

, 183–186

Moziki

, 98, 101, 103

MUBS SACCO illustrates

, 266

Muholisano

, 239

Musiki

, 98

Muso

, 68, 98

Musoniers

, 105–106

Mutu Moko

, 100

Mutual aid

, 87

Mutual Assistance Groups, Savings with

, 139

Mutual Banks Amendment Act

, 238

Mutual solidarity societies (MUSOs)

, 65–66

Mutual systems of solidarity

, 102–103

Mutual tontine

, 217

Mutualidade de Poupança e Crèdito (‘MPC’)

, 155

Mutuelles de solidarité (MUSO)

, 101–103

Nandom

, 138–139

Nanemeiakpee

, 136, 139

Nate

, 217, 224

National Co-operative Financing Agency of Nigeria (CFAN)

, 198

National Development Plan

, 263

National Resistance Movement (NRM)

, 262

National Stokvel Association of South Africa (NASASA)

, 6–7, 238

Ndon

, 217, 224

Nedbank

, 247

Networks

, 104

Nigeria

assessing economic outcomes of savings groups’ initiatives

, 199–200

challenges

, 202

formal financial sector

, 197–198

government and informal sector

, 203

informal and formal financial institutions

, 195

informal saving groups in

, 195, 197–198

savings groups in

, 194, 200–203

social benefits

, 201–202

technology

, 202–203

women empowerment

, 200–201

women empowerment through credit access

, 204–208

Nigeria Deposit Insurance Corporation (NDIC)

, 210

Non-governmental organisation (NGOs)

, 23, 33, 141, 151–152, 181, 205

additional competences in context of

, 41

Norms

, 226–227

Nova Vida

, 183–185

Oku

, 196

Old Mutual Savings and Investment Monitor

, 244

Older People’s Association (OPA)

, 27

Ondo

, 198

Ophavela pilot project

, 181

Organisational skills

, 37–38

Osusu

, 196

Oxfam

, 23

Oyo

, 198

Papa moziki

, 103–104

Papa or maman carte

, 100

Pay-WithCapture

, 203

Pension Fund Act

, 238

Perm’s Club Account

, 243

Personal protective equipment (PPE)

, 6

Pide

, 217, 224

Piye woudere

, 224–225

Plan International

, 22

Plan International

, 23

PlaNet Finance

, 69–70

Point of sale (POS)

, 143

Policy Experimentation and Evaluation Platform (PEEP)

, 2–3

Poret Group

, 200–201

Poupança e Crédito Rotativo (PCR)

, 180

Poverty levels

, 17

Private sector

, 179

Pro Murger

, 106

Programme d’Appui aux Mutuelles d’Epargne et de Crédit du Sénégal (PAMECAS)

, 219–220

Prosperous Cocoa Farming Communities (PROCOCO)

, 137–138

Reciprocity

, 217

Rede Nacional da Mulher Trabalhadora (RNMT)

, 158

Regulation

, 197

Remittances

, 17

Réseau des Caisses Populaires du Burkina (RCPB)

, 63

Resilience Boxes

, 158–159

Resilience Groups

, 158–160

Rotating savings

, 138, 163

Rotating Savings and Credit Associations (RoSCAs)

, 15, 75–78, 102–103, 117, 135–136, 163, 170, 180, 217, 235, 262

Rural settlements

, 193

Rustenburg Property Investment Stokvel (RPIS)

, 251–254

SACCO Societies and Regulatory Authority (SASRA)

, 165

Sapphire account

, 208–209

SatF

, 144

Saving Information Exchange (SAVIX)

, 23, 25

Savings

, 13, 21, 193

factors

, 16–18

with Mutual Assistance Groups

, 139

stokvels

, 240

Savings and credit cooperative societies (SACCOs)

, 100–101, 119, 164–165, 261, 267–268

challenges

, 129–130

Initiative at Makerere University Business School

, 266–268

by laws

, 261

operations

, 267–268

unions as financial services providers

, 128–129

women’s entrepreneurship development through

, 123–126

Savings and Credit Mutual Funds

, 94

Savings and Internal Lending Communities (SILCs)

, 25–26

by Catholic Relief Services

, 25–27

principles

, 26

Savings Group Bank Linkage Programmes in Ghana

, 144–146

Savings groups (SGs). See also Informal savings groups

, 1, 13, 21, 61, 98, 117, 135, 163, 217, 261, 263–264

in Africa

, 2

basic function

, 1

in Burkina Faso

, 63–68

in Cabo Verde

, 89–91

in Cameroon

, 75–77

in DRC

, 99–103

empowerment pathways

, 48

in Ethiopia

, 118–120

evolution of SG programmes

, 47–48

facilitating financial inclusion of women

, 46–47

in Ghana

, 136–139

INGOs and

, 23

in Kenya

, 164, 166, 170–171

linking savings groups to FFIs

, 18

middle class savings groups in Africa

, 16

in Mozambique

, 180–181

in Nigeria

, 200–203

outcomes

, 48–51

prevalence

, 13

Savings Groups for Africa (SG4Africa)

, 2–3

consortium

, 7

network

, 6

teams

, 3–4

Self-help

, 135

Self-help groups (SHGs)

, 202

Self-imposed regulation

, 240

Senegal

ascent of Tontine in

, 218–220

Tontine connection with the formal financial ecosystem of

, 229–232

Sexual and Gender Based Violence (SGBV)

, 104

Shared beliefs

, 226–227

Sistemas de Financiamento Descentralizado (‘SFDs’)

, 151–152

Small and Medium Enterprise (SME)

, 203

Small and Medium Enterprise Development Agency of Nigeria (SMEDAN)

, 203

Small Business Administration (SBA)

, 203

SmartChama

, 171

Social bonds

, 87

Social capital

, 61, 122, 223–224, 245–246

Social distancing

, 6

Social Enterprise Development Ghana (SEND-Ghana)

, 141

Social insurance

, 78–79

Social Security and National Insurance Trust (SSNIT)

, 144

Société Générale de Banques au Sénégal (SGBS)

, 227

Society-based cooperatives

, 126–127

Socio-professional Tontines

, 101

Socioprofessional tontine

, 98

Sogun-Dogoji

, 197

Solidarity

, 224–226

Solidarity Box

, 159

Solidary mutual MUSO

, 98

SOMA

, 186–190

Songtaaba

, 62

Sossoaga

, 62

South Africa

burial Stokvels

, 240–241

case studies

, 248–254

economic and business outcomes

, 246

formation of NASASA

, 237–239

geographical reach and naming classification

, 239–242

high-budget Stokvels

, 241–242

history and typology

, 236–248

investment Stokvels

, 241

savings groups in

, 235–236

savings Stokvels

, 240

Stokvels and formal financial sector

, 242–244

Stokvels and social capital

, 245–246

Stokvels and urban/rural intervention

, 244–245

Stokvels and women’s empowerment

, 245

Stokvels in twenty-first-century South Africa

, 246–248

South African banking system

, 238

South African Reserve Bank (SARB)

, 4, 238

South-Kivu

, 105–106

Standard Bank

, 247

Stock fairs

, 236

StokFella

, 247–248

Stokvels

, 15, 235–236, 242, 244–246

in South Africa

, 1, 3–5

in Twenty-first-century South Africa

, 246–248

Sub-Saharan Africa

, 3

Supporting Transformation by Reducing Insecurity and Vulnerability with Economic Strengthening Project (STRIVE)

, 182

Susu

, 135–137

in Ghana

, 1, 3–4

Tabanca

, 87

Tarikenlawgacheu

, 122

Tea party attended by women

, 237

Technology

, 39, 179

in Kenya

, 170–171

in Nigeria

, 202–203

Tegg

, 217

Tegge

, 217

Thematic analysis

, 35–36

Thrifts

, 194

Tier 4 of Financial Institutions

, 261

Tone

, 62

Tontine à la carte

, 98–99, 101

Tontine des Amis du 21

, 81

economic impact

, 82–84

organisation and functioning of friends

, 81–82

social impact of friends

, 82

Tontine mutualiste

, 217

Tontines

, 62, 68–69, 217

ascent of Tontine in Senegal

, 218–220

connection with the formal financial ecosystem of Senegal

, 229–232

at core of modernisation

, 227

entrepreneurship and market participation

, 221–226

in French-speaking countries

, 1, 3–4

nexus of Tontine and formal finance

, 220–221

social capital and in-group/out-group dilemma

, 223–224

solidarity and women social empowerment

, 224–226

tradition and modernity

, 226–227

Top ups

, 267–268

Totocaixa

, 88–89, 91

Tukolelewaamu

, 261

Tumu

, 138–139

Tweyambe

, 261

Uganda, savings groups in

case study Uganda

, 266–268

challenges

, 265–266

economic outcomes

, 263–264

ecosystem of saving groups

, 264–265

formation or establishment

, 266

foundation and history

, 262

growth and stagnation

, 268

SACCO operations

, 267–268

setup and governance

, 267

social outcomes

, 264–266

Umgalelo

, 235, 239

Umshayelwano

, 235

United Kingdom Department for International Development (DFID)

, 181

United Nations Development Programme (UNDP)

, 70

United Nations Educational, Scientific and Cultural Organization (UNESCO)

, 61

United States Agency for International Development (USAID)

, 181

University of French-Speaking Networks (UREF)

, 218

Urban environments

, 166

Urban Ethiopia

, 117–118

case study

, 123–126

economic outcomes

, 120–122

savings groups in

, 118–120

social outcomes

, 121–122

study context and approach

, 122–123

Urban/Rural Intervention

, 244–245

Ustaafu Poa Women’s Savings Group

, 171–173

UX Technologies (UX)

, 187

Values

, 226–227

Village

, 140

banks

, 71

Village Savings and Loans Associations (VSLA)

, 5, 23–24, 27–28, 33, 97–98, 103, 119–120, 135–136, 179, 200–201, 262

features

, 25

Volatility, uncertainty, complexity and ambiguity (VUCA)

, 246–247

Volkskas Bank

, 237

Wa

, 138–139

Welfare or clan groups (WCGs)

, 163–165

West African Economic and Monetary Union (UEMOA)

, 151

Women Economic Empowerment

, 263–264

Women in Self Employment (WISE)

, 122–123, 126

Women social empowerment

, 224–226

Women’s economic empowerment (WEE)

, 22

Women’s empowerment

, 200–201, 245

build capacity of key stakeholders

, 53

closing gaps in empowerment measurement frameworks

, 51–53

evidencing empowerment in savings groups

, 47

evolution of SG programmes

, 47–48

improve collaboration among stakeholders

, 53–54

inclusive finance

, 45–46

recommendations

, 53

saving group empowerment pathways

, 48

savings groups facilitating financial inclusion of women

, 46–47

Women’s Empowerment in Agriculture Index (WEAI)

, 141

Women’s entrepreneurship development through SACCOs

, 123–126

background of members

, 123–124

economic and social empowerment

, 125–126

financial service

, 124–125

follow-up and counselling service

, 125

trainings and business development service

, 124

World Bank

, 22

World Vision

, 23

Xitique

, 179–180, 182

Yaghal Kyen

, 200–201

Yoruba

, 197

Young Women Business Network (YWBN)

, 248–251