Ontario Association of Social Workers Hosts Dr. Hossein

On November 28th Dr. Caroline Hossein was invited to speak to the OASW . Via zoom she presented: OASW Peel Region & Area: A Sustainable Economic Model - The Banker Ladies and Mutual Aid Finance.

Summary

Africana women engage in solidarity economies through a specific form of mutual aid – formally referred to as Rotating Savings and Credit Associations (ROSCAs) – to meet their livelihood needs. These women call themselves the Banker Ladies, and the ROSCAs they run are rooted in equity, mutual aid and self-help. The members decide on the rules and processes of how to make regular contributions to a fund that is given in whole or in part to each member in turn. Canada has a rich history of cooperativism, yet, ROSCAs are ignored, stigmatized and not valued as they are in the Caribbean. Dr. Caroline Shenaz Hossein's talk draws on empirical work that involves interviews with hundreds of Black women in five Caribbean countries, in Toronto and Montreal, as well as field work in Ghana and Ethiopia for a forthcoming book, The Banker Ladies. This research is calling on policymakers to fund a ROSCA federation. Valuing informal institutions, as well as acknowledging and remunerating the work of the Banker Ladies is a move towards inclusive financial systems, and by extension this move can revolutionize economic development policy.

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