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Building Economic Solidarity: Caribbean ROSCAs in Jamaica, Guyana, and Haiti

  • Caroline Shenaz Hossein
Chapter
Part of the Perspectives from Social Economics book series (PSE)

Abstract

Caribbean women create rotating savings and credit associations (ROSCAs) to take care of the need of their communities when commercial banks and formalized financial alternatives fail to do so. Informal banking collectives are important because they are inclusive, locally driven institutions to meet the livelihood needs of people, particularly women. In this chapter, it shows the various ways that the Black women participate in the social economy through self-managed groups, called ROSCAs. This chapter examines five country cases in Jamaica, Trinidad and Tobago, Grenada, Guyana, and Haiti to show how ROSCAs not only build savings, community relations but also enable people to access large lump sums of cash to invest in their businesses. The Banker ladies are upholding ancient African traditions of collectivity to increase savings and to allow for lending opportunities.

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Caroline Shenaz Hossein
    • 1
  1. 1.Department of Social ScienceYork UniversityTorontoCanada

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