Mail & Guardian
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This photograph taken in Yaounde, on February 17, shows the Djangui Money logo on a mobile phone. In many African countries, the tontine is a popular collective savings system which has for years enabled those to whom banks do not lend to finance a project or an emergency. In Cameroon, start-ups have brought it into the digital age in recent years. (Photo by Daniel BELOUMOU OLOMO / AFP)
AFRICA

Ancient community banking enters digital age in Cameroon

There are about 30 African countries where tontines are used, and 14 in Asia. In South Africa, it is known as a stokvel

  • Romuald Nkonlak
2 min read