Rosca Network

The Banker Ladies Council is embarking on building a ROSCA system in Canada by developing the ROSCA Network. It will be a co-operative that offers education, training and advocacy services to its ROSCA practitioners across the country. The ROSCA Network will give legitimacy to women who have been using this type of informal banking as a form of savings. The objective is to recognize and legitimize the role ROSCAs play in the economy. Money saved using this type of system has been used to stimulate the economy through the purchase of homes, starting businesses & funding education. There are many ROSCA groups in Toronto (and Canada broadly) among the Black population as well as so many other racialized groups, including men using ROSCAs. The ROSCA Network will support and protect the rights of ROSCA users in Canada. They will work to address challenges faced by ROSCA users, raise awareness about this form of saving money & enable users to connect with other ROSCA users across the country.