Equb by Tekalign 12 Nov 2021

posted in: IFC Project - Ethiopia | 0

Tuesday is a market day in Asella and a good way to get money from farm as well as non-farm activities. It is common to organize Equb during those market days. Equb is an informal revolving money-saving social structure whereby people gather and assign Chairperson, secretary, and financier. Equb is gathered in a specific location during the market day or the next day. In Dosha, Tuesday is a typical Ekub day where people contribute as much cash as they can and draw a lottery to know who takes the money collected on that specific Tuesday. The same process is repeated until all the members get the chance to get the money gathered.

There are two types of Equb in Dosha based on my observation, i,e. Equb in cash and Equb in kind. The above-mentioned Equb kind is cash-based. In-kind Equb has a chairperson who organizes the event, collects money from members, and purchases personal items, like house appliances, clothing (Gabi), and other trending items. In one of the neighborhoods, I got a Gabi equb, which is collected on Saturdays. Based on the invitation by the chairperson I became a member. I believe this kind of engagement in social and economic activities will help me earn trust from the community and build a good relationship.

Collection of Equb