History of GCSCA

Susu is one of the ancient traditional banking systems found mostly in African countries as a means of funds mobilization for commencement, sustenance and in some cases development of small scale enterprises (SSE) (Alabi et al. 2007).

The system is believed to have been introduced in Ghana by Yoruba traders originating from Nigeria (Aryeetey and Gockel 1991). In Ghana Susu is where a PERSON agrees to make a daily contribution to an ANOTHER (susu collector) for a period of 31 days and the collector retains or takes a day’s contribution as commission.

The collectors sometimes give advances to contributors which is payable in the cause of the month. Due to lack of capital it is limited to few clients.

It is known as Ikub in Ethiopia, Dyangy in Camaroon, Chilemba in Uganda, Esusu in Liberia and parts of Nigeria, Cheetu in Sri Lanka, Susu in Tobago or Sou in Trinidad (Seibel 2001) and as Tontines in Francophone Africa.

Due to the contributions of Susu to the development of SMEs and its ability to mop excess liquidity through its savings mobilization methods, susu is recognized and being incorporated into some formal financial institution, dabbed Susu savings and loans using the same methodology.

In 1994 realizing the need for self-regulation, the Association was formed and registered under the Co-operative Societies Degree, 1968 (NLCD 252), with the name Ghana Co-operative Susu Collectors Association (GCSCA) with the slogan, Good name is better than riches. The Association has 10 affiliated societies in all the regions in Ghana. It has a national secretariat in Accra, regional and 3 district offices in Tema, Swedru, and Akim Oda. The Association was established to self-regulate the activities of Susu collectors and instill best practices which would build customer confidence in their operations.

What is GCSCA doing?

Ghana Cooperative Susu Collectors Association (GCSCA) is one of the Apex Associations in the Microfinance sector in Ghana. It regulates, supervises, monitors, develops and promotes the business of all susu collectors in a manner that safeguards the interest of collectors, clients and other stakeholders.

GCSCA is registered under Ghana Co-operative Societies Decree No. 252 of 1968. The Association is owned by members who are expected to raise the share capital for its operations. The regulation, monitoring and supervision functions of GCSCA are duly endorsed by Bank of Ghana (BOG).

It’s Operating Rules and Guidelines for Microfinance Institutions (Notice No. BG/GOV/SEC/2011/04) issued on July 11, 2011 as well as BoG’s letter to GCSCA BSD/MFI/52/2012 dated 13th January 2012 issued under the authority of Section 31 (2) of the Non-Bank Financial Institutions Act, 2008 (Act 774) and Section 4(2) of the Bank of Ghana Act, 2002 (Act 612) . The Notice gives GCSCA the responsibility to supervise individuals and enterprises engaged in susu collection business in Ghana.

Our Vision

The vision of the Ghana Cooperative Susu Collectors Association is to become a vibrant, sustainable and attractive apex association for susu collectors in Ghana promoting financial inclusion.


We exist to regulate, supervise, monitor, develop and promote the business of all regulated susu operators in Ghana in a manner that safeguards the interest of collectors, clients and other stakeholders


The Values of GCSCA

The core values of GCSCA are focused on upholding the GCSCA slogan of a good name is better than riches. The values are:

  • Be trustworthy in all dealings
  • Honour all promises promptly;
  • Strictly adhere to schedules given to members;
  • Adhere to laid down policies;
  • Ensure security of members deposits;
  • Ensure equal treatment for all;
  • Treat members on first come, first served basis;
  • Apply policies evenly.
  • Report any misconduct to appropriate authority
  • Be ready to account for all resources mobilised
  • Use resources mobilised judiciously
  • Be ready to explain issues to members who seek clarification;
  • Render periodic accounts to members
  • Inform members of over-payment or underpayment;
  • Disclose appropriate information to members;
  • Declare interests and dividends at the right time;
  • Publish society financial statement publicly
  • Emphasize synergy in all dealings
  • Apply team approach to problem solving
  • Reward teamwork
  • Manage and resolve conflicts