Do you know what a ROSCA is?

Is someone actively using it?

What kind of advise will you provide for someone trying to set up one?

ROSCA

Stands for rotating savings and credit association.
I've heard they are used in some parts of Africa and Latin America. Specially useful in rural areas where the banking system access is hard to get and even financial records will make it quite impossible for people to get access to credit. I've never witnessed one of those savings plans myself but I've been deeply intrigued with the idea of them. Named differently in different parts of the world seems to be an recurring tool used in different societies.

I would like to see if someone has had the opportunity to participate in one or know some other names for the same mechanism.

Some other names are: #rosca #tandas #susus