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Avery M@averym.bsky.social |
ROSCAs have existed for centuries in Africa, Southeast Asia and Japan. In fact they came to America over a decade ago, under the term "susu". Because US banks are unfamiliar with ROSCAs they have shuttered associated bank accounts, as reported by... NYT. 😐 www.nytimes.com/2023/11/05/b...
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Avery M
@averym.bsky.social
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The core of the article about KakaoTalk creating a ROSCA app is super cool, and I'm glad they decided to write an article about it. I just wish they had talked to an economic historian, who could help them find their own past journalism on this exact topic...
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