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In South Africa, a stokvel is an invitation-only club of twelve or more people serving as a rotating credit union or saving scheme. Members contribute fixed sums of money to a central fund on a weekly, fortnightly or monthly basis.
Learn what a stokvel is, how to choose a goal, members and a bank account, and how to draw up a constitution for your group savings club. Find out the benefits and drawbacks of different stokvel bank accounts in South Africa.
Our monthly Stokvel Indaba is our national roadshow, where our members gather to learn, teach and share. Research. Our Research Desk gathers insights from over 10 000 Stokvel members as the first step of our product development process. Stokvel Indaba.
Learn what a stokvel is, how it works, and why you should consider joining one. Find out the benefits, types, and tips for choosing a safe and reliable stokvel group.
Nov 13, 2020 · The main purpose of a Stokvel is to encourage people to save towards a common goal. A lot of people are not disciplined enough to save money on their own, there are always things that need money. A Stokvel is a great way to save money, while making sure that you get what you saved for.
Key takeaways. Stokvels pool the contributions of members, who receive agreed benefits in return. Traditionally cash-based, many now transact via the banking system and may communicate with members via digital channels. There are various types of stokvels, which suit a range of purposes.
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What is a stokvel club?
A Stokvel is a type of credit union in which a group of people enter into an agreement to contribute a fixed amount of money to a common pool weekly, fortnightly or monthly.
