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Tontines and the banking system – is there a case for building linkages?
In Senegal, as in other parts of the world, tontines are a very important form of organized group savings for the informal sector, and the amounts raised are often substantial. This article describes the findings of a survey which took place in Dakar relating to how tontinesare run, who takes part, and for what purposes the savings are used. It identifies the strengths of tontines, and suggests that in spite of the apparent desirability of linking tontines into the banking system through the mechanism of mutual guarantee associations, the informality
of tontines is unlikely to be compatible with bank regulations, and similarly bank procedures are unlikely to meet tontines members' requirements of speed and flexibility.
In Senegal, as in other parts of the world, tontines are a very important form of organized group savings for the informal sector, and the amounts raised are often substantial. This article describes the findings of a survey which took place in Dakar relating to how tontines
are run, who takes part, and for what purposes the savings are used. It identifies the strengths of tontines, and suggests that in spite of the apparent desirability of linking tontines into the banking system through the mechanism of mutual guarantee associations, the informality
of tontines is unlikely to be compatible with bank regulations, and similarly bank procedures are unlikely to meet tontines members' requirements of speed and flexibility.
are run, who takes part, and for what purposes the savings are used. It identifies the strengths of tontines, and suggests that in spite of the apparent desirability of linking tontines into the banking system through the mechanism of mutual guarantee associations, the informality
of tontines is unlikely to be compatible with bank regulations, and similarly bank procedures are unlikely to meet tontines members' requirements of speed and flexibility.
Roscas without sanctions
Reito, Francesco
Review of Social Economy, Vol. 78 (2020), Iss. 4 P.561
https://doi.org/10.1080/00346764.2019.1693054 [Citations: 6]In search of the African miracle: debates on successful small enterprise development in Africa
Rogerson, C.M
Habitat International, Vol. 25 (2001), Iss. 1 P.115
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