How they can make your money work for you
By Palesa Lengolo
The South African economy has a secret weapon: stokvels. If harnessed correctly, investments in stokvels could significantly bolster the economy. The following statistics, provided by the National Stokvel Association of South Africa, are mind-blowing: at present there are 11.4 million South Africans who are members of stokvels; around R44 billion is pooled collectively by ordinary people in stokvels; and it is saved by 820,000 stokvels.
A lot of ideas have been put forward on how these monies can be utilised by stokvels, but it is not really clear how these can be practically applied.
A landscape of stokvels
This book will appeal to readers who are already in a stokvel, those who want to be in one, and even those who never thought of joining one.
It contains all the necessary information you need about this form of investment, including:
- How this collective power emerged;
- How to set up a stokvel and the admin involved in running one;
- The opportunities within stokvels and the possible collaborations with other
institutions; - Real people’s experiences with stokvels; and
- The challenges and future landscape of stokvels.
Most importantly, it explains how an individual can make money by being part of a stokvel.
Sales points
- Everything you need to know about stokvels and the stokvel community can be found
in this book. - Accessible and easy to read, with plenty of real-life examples.
- This book will not only benefit individuals and existing stokvels, but also financial institutions, retailers, corporates and businesses that deal with stokvels or have an
interest in them. - Financial literacy is very low in South Africa, yet we know it is key to financial security.
Stokvels addresses this problem by clearly explaining financial principles and how to
make sound financial decisions. - It addresses the many challenges and pitfalls stokvels have recently faced, and might get skeptics to consider joining a stokvel.
About the author
Palesa Lengolo is a finance professional with 10 years’ experience in financial services in the fields of accounting, investments and banking. With qualifications in Accounting Science
and Financial Information Systems, she is a member of the South African Institute of Business Accountants.
While she’s passionate about her corporate career, she is also committed to empowering people with investment and financial education via Palengo Holdings, an investments holding company. Palesa has featured on CNBC Africa, Metro FM, Moneyweb, Power987 FM, CliffCentral, DStv 157, Soweto TV and YFM.
- PUBLISHER | Penguin Random House SA |
- ISBN | 978 1 77609 455 4 |
- Recommended Retail Price | R200.00 |
- Classification | Personal Finance |