VOICED : Tontine microcredit helps Senegal women do business

The video discusses the concept of tontines, a traditional savings system popular in Africa, where women pool money together to provide interest-free credit. Unlike banks, tontines rely on community trust and social dynamics, offering a sense of purpose and achievement. They are used for various purposes, from building houses to saving for special events, highlighting their role in empowering women and fostering community growth.

What is a key feature of tontines that differentiates them from traditional bank loans?

• They require collateral.

• They charge high interest rates.

• They are only available to men.

• They are interest-free.

How often do members of a tontine group typically receive a payout?

• Every month

• Every five years

• Every ten years

• Every year

What is one reason women prefer tontines over banks?

• Banks offer better customer service.

• Tontines require less paperwork and guarantees.

• Banks are more convenient.

• Tontines offer higher interest rates.

In addition to financial benefits, what else do tontines provide to their members?

• Guaranteed employment

• Free financial advice

• Access to international markets

• A sense of community and purpose

What has changed about the use of tontines in recent times?

• They are now used exclusively for weddings.

• They have become more regulated by the government.

• They are now used for more ambitious projects.

• They are no longer popular.