Ajo mobile money app

Small contributory savings programs, in which market women contribute a daily percentage of their trading proceeds to a collective, can be found all throughout Nigeria. What are the features of these groups that make them successful, and what can corporate Nigeria learn from them to guarantee that they maintain good corporate governance standards as a group?

These savings plans are referred to as Ajo in Yoruba, Adashe in the north, and Esusu in Ibo. These communal savings serve as a source of emergency borrowing, a tool to grow savings, and a vehicle to attain a common purpose, among other things. The clan nature of its members lies at the heart of every collective saving strategy.