Structure of Indigenous Savings Groups in Nigeria: Cases and Implications for Business Actors
Casebook of Indigenous Business Practices in Africa
ISBN: 978-1-80455-763-1, eISBN: 978-1-80455-762-4
Publication date: 16 August 2023
Abstract
This chapter presents case studies that explore the structures of indigenous savings group practices in Nigeria. Indigenous savings groups in Nigeria can be categorised as either unstructured, semi-structured or structured. These categorisation of savings groups can follow two patterns, which include Rotating Savings and Credit Associations (ROSCAs) and Accumulated Savings and Credit Associations (ASCAs). Through a qualitative case analysis of savings practices in Nigeria, we observed that the indigenous savings groups have similar goals and orientations, though their operating structures differ. The chapter highlighted the relative theme that cuts across these cases, and insightful recommendations are provided for upscaling and adopting indigenous savings groups in Nigeria and Africa. The chapter also discusses the role of government in facilitating savings and credit disbursement to groups. The implications for business actors and the government are highlighted.
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Acknowledgements
Acknowledgements
The research was conducted under SG4Africa, a pan-African research project which seeks to illuminate the phenomenon of Savings Groups across the continent. The project culminated in the publication of the book, Redford, D. T., & Verhoef, G. (Eds.). (2022). Transforming Africa: How Savings Groups Foster Financial Inclusion, Resilience and Economic Development. Emerald Publishing Limited. This chapter contains some more insights from the Nigeria team.
Citation
Adeola, O., Adeleye, I., Ibelegbu, O., Olajubu, B.J. and Adisa, I. (2023), "Structure of Indigenous Savings Groups in Nigeria: Cases and Implications for Business Actors", Adeola, O. (Ed.) Casebook of Indigenous Business Practices in Africa, Emerald Publishing Limited, Leeds, pp. 141-159. https://doi.org/10.1108/978-1-80455-762-420231015
Publisher
:Emerald Publishing Limited
Copyright © 2023 Ogechi Adeola, Ifedapo Adeleye, Oserere Ibelegbu, Babalola Josiah Olajubu and Isaiah Adisa. Published under exclusive licence by Emerald Publishing Limited