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Susu and savings groups

Susu and savings groups, kept straight

Kwessa keeps a savings group’s money in order: rotating susu with its rounds and payout order, personal susu toward a goal, savings accounts and loans against them. Every payment has a receipt, every payout an approval, and members check their balance on WhatsApp.

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The problem today

  • Susu cards, savings books and loan records don’t agree with each other.
  • Whose turn it is, and who hasn’t paid this round, lives in one person’s head.
  • Members can’t check their balance without calling the treasurer.
  • When someone falls behind, nobody is sure what is fair to take from their payout.

Rotating susu goes by many names across Africa: esusu or ajo in Nigeria, chama in Kenya, stokvel in South Africa, tontine in francophone countries. Kwessa keeps the books in Ghana cedis.

How it works on Kwessa

  1. 1

    Rotating susu in rounds

    Set the amount, how often members pay and the order of turns. Each round, the whole pot goes to one member. The order of rounds not yet paid out can change, on the record.

  2. 2

    Fair when someone is behind

    Choose what happens when a member is behind at their turn: just show it, take what they owe off their payout, or hold the payout until they catch up.

  3. 3

    Payouts with approval

    Each payout goes on a payment voucher for exactly what the round holds, and a second officer approves it. The pot can never be paid below zero.

  4. 4

    Personal susu toward a goal

    A member saves a set amount on a set schedule toward a goal, such as restocking before Christmas. At the end, the money waits to be paid out, less any commission the group charges.

  5. 5

    Savings and loans

    Each member can have a savings account with interest worked out daily, and borrow under the group’s loan products with their savings pledged behind the loan.

  6. 6

    Balances on WhatsApp

    Members ask the group’s WhatsApp number for their savings, susu and loan balances, any time. Reminders before each round go out if the group turns them on.

Questions

Yes. Kwessa runs rotating susu groups and personal susu for clubs and savings groups in Ghana, with receipts, approvals and balances on WhatsApp. Members pay the group’s own MoMo or bank account.

Every member pays the same amount each round, and the whole pot goes to one member in the order the group set. Kwessa tracks who has paid into each round, whose turn is next and what each member is owed.

The group picks the rule: just track it, deduct what they owe from their payout, or hold their payout until they catch up. A different rule can be set for one member.

They work the same way as rotating susu, so the records fit. Kwessa keeps the books in Ghana cedis and its online payments are Ghana’s Mobile Money, so it suits groups in Ghana best.

No. Kwessa is for closed groups saving their members’ own money, and it never holds the money itself.

Groups it suits

What it uses

  • Members
  • Contributions & collections
  • Accounting & reports
  • Payment vouchers
  • Rotating susu
  • Member savings
  • Personal susu
  • Member loans
  • WhatsApp assistant

The plan for it

Premium

GHS 900 a month · any number of members

Premium has everything above.

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