In Jamaica it’s called sou-sou; in Somalia, hagbad; and in South Africa, stokvel.
Studies show the pandemic, civil unrest and racial injustice that have proliferated in society over the past couple of years have inspired people to reconsider the brands they buy from and companies they work for. “We’re seeing employees asking: What are we doing as an organization to contribute to our community? How am I managing to or having the opportunity to live out my goals? And how do I want to contribute to my community through my work?” says Ms. Chick, whose organization promotes socially responsible production and procurement throughout a company or institution’s supply chain. It also certifies social enterprises.
When Mr. Chininga came to Canada from Zimbabwe in 2014 to study business at the University of Prince Edward Island, he discovered first-hand the challenges of accessing affordable credit as a newcomer to the country.The founders wanted to build a better system. “It’s something we are very, very passionate about,” Mr. Chininga says.
Irene Mlambo, who runs the Elevate Businesswomen Capitalization Collective from her home in Metro Vancouver, says rotational savings are common among immigrant communities.
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