Build on What Is Already in Place

Savings groups improve on traditional revolving savings groups—ROSCAs—which are already widely understood in the communities where we work. While savings groups and ROSCAs share the requirement that groups select their members, save regularly, and hold each other accountable, savings groups add variable savings, taking out loans when and in the amounts desired, improved record keeping, charging interest on small loans, and greater transparency. I knew we were on the right track when, after a few minutes of describing Saving for Change to a woman in Senegal, she responded, “I understand how this works. It’s like a tontine, only better.”