Tag: Cebile Magongo
Stokvels – building women’s financial independence
As South Africa celebrates Women's Month, conversations around financial empowerment, wealth creation and economic participation remain as important as ever. While women continue to make significant strides in the workplace, business and entrepreneurship, achieving financial independence remains a critical component of long-term financial wellbeing.
Stokvel safety and precautions during the seasonal withdrawals
The growing trend of stokvels and the seasonal withdrawals during the festive season requires members to be vigilant and careful. Often, stokvels are formed at the start of the year to enable spending in December. As a result, we observe most withdrawals during this period.
Stokvel saving for seniors
Our data shows that 23% of their stokvel members are seniors. Additionally, 37% of stokvels have two or more senior members. This suggests that tradition is being passed down to younger generations. Seniors and youth often belong to the same stokvels.
Group savings have historically served as collective savings vehicles. They help adults raise families and create communities of like-minded individuals. Senior citizens continue to embrace this culture while passing on knowledge and principles to younger generations.
