sou-sou

British  

/ ˈsuːsuː /

noun

1. an arrangement made among friends whereby each person makes regular contributions to a fund, the money being drawn out periodically by each individual in turn

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Etymology

Origin of sou-sou

probably of W African origin, influenced by French sou small coin, via Creole

Example Sentences

The practice carries many names worldwide and among American immigrant communities, including tanda, sou-sou or tontine.

From Seattle Times

The type of fraudulent schemes alleged in the complaint go by various names — sou-sou, gifting circle, money board, or blessing loom.

From Washington Post

Although not commenting directly about the sou-sou or gifting circles, IRS spokesman Eric Smith said that under federal tax law, all income is taxable unless specifically exempted.

From Washington Post

For the past several weeks, members of my church, friends, neighbors and readers have asked me about the legitimacy of a “sou-sou” or similar schemes, in which they are promised that if they put up $100 in some cases, or $500 in others, in a month or two they would get a return eight times their cash outlay.

From Washington Post

But despite assurances by promoters, these blessing, sou-sou, or gifting circles are illegal.

From Washington Post