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The case of the Gambian Osusu: operation and motivations through the lens of Diverse Economies theory

Rahozina, Tatsiana LU (2023) MIDM19 20231
Department of Human Geography
LUMID International Master programme in applied International Development and Management
Abstract
In the Gambia, Osusu has helped women to be resilient to various types of precarity for a long time. Though the country has recently recognized the importance of financial inclusion by adopting a National Financial Inclusion Strategy (NFIS), the informal practice of Osusu continues to exist and evolve. Through 20 semi-structured interviews with women who are members of Kafoos that operate Osusu, this case study aims to explore the motivations behind women's participation in Osusu and also shed light on the factors contributing to the endurance of the practice. Principal findings were that Osusu serves as a crucial financial tool for women, facilitating savings and to some extent providing a safety net for emergencies and significant... (More)
In the Gambia, Osusu has helped women to be resilient to various types of precarity for a long time. Though the country has recently recognized the importance of financial inclusion by adopting a National Financial Inclusion Strategy (NFIS), the informal practice of Osusu continues to exist and evolve. Through 20 semi-structured interviews with women who are members of Kafoos that operate Osusu, this case study aims to explore the motivations behind women's participation in Osusu and also shed light on the factors contributing to the endurance of the practice. Principal findings were that Osusu serves as a crucial financial tool for women, facilitating savings and to some extent providing a safety net for emergencies and significant expenses. Additionally, through membership in the groups, individuals gain access to valuable opportunities like group loans and expanding their customer base. Beyond its financial benefits, Osusu also plays a vital role in strengthening social bonds among its members. Completing an entire cycle of Osusu fosters trust among participants. Osusu manifests itself as a practice in which economic and social motivations are indivisible. Its flexibility, along with its solidaristic nature, contribute to Osusu's endurance as a valuable financial practice within the Gambian society. (Less)
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author
Rahozina, Tatsiana LU
supervisor
organization
course
MIDM19 20231
year
type
H2 - Master's Degree (Two Years)
subject
keywords
ROSCA, Osusu, informal finance, the Gambia
language
English
id
9136555
date added to LUP
2023-09-12 13:49:28
date last changed
2023-09-12 13:49:28
@misc{9136555,
  abstract     = {{In the Gambia, Osusu has helped women to be resilient to various types of precarity for a long time. Though the country has recently recognized the importance of financial inclusion by adopting a National Financial Inclusion Strategy (NFIS), the informal practice of Osusu continues to exist and evolve. Through 20 semi-structured interviews with women who are members of Kafoos that operate Osusu, this case study aims to explore the motivations behind women's participation in Osusu and also shed light on the factors contributing to the endurance of the practice. Principal findings were that Osusu serves as a crucial financial tool for women, facilitating savings and to some extent providing a safety net for emergencies and significant expenses. Additionally, through membership in the groups, individuals gain access to valuable opportunities like group loans and expanding their customer base. Beyond its financial benefits, Osusu also plays a vital role in strengthening social bonds among its members. Completing an entire cycle of Osusu fosters trust among participants. Osusu manifests itself as a practice in which economic and social motivations are indivisible. Its flexibility, along with its solidaristic nature, contribute to Osusu's endurance as a valuable financial practice within the Gambian society.}},
  author       = {{Rahozina, Tatsiana}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{The case of the Gambian Osusu: operation and motivations through the lens of Diverse Economies theory}},
  year         = {{2023}},
}