Stokvels are no longer just informal savings clubs – they’re a R50 billion-a-year financial system used by around 11 million South Africans. From banks to retailers and fintechs, companies are now trying to build products around a community-driven model that has helped people save, spend and invest for generations.
#businessbagel #SouthAfrica #business #Fintech #Investing
n Stokvel is dom
Banks don’t design products for the majority. Hence they will be left behind.
There are so many other money systems, that bank could be building if only they stared to listen to how we live and the issues we face.
Than pushing us to use a systems that is not for us.
We use it to run our community patrolling.
Been 2 years + we have installed gates, camera , equipment and monthly we thank our patrols.
We are BP Block Dobsonville.
We us StokfellApp.
A stokvel makes no sense to me! If you save your own money for 10 months, instead of paying other people for 9 months then having them all pay you on the 10th, you get the same effect! And without the risk that someone is gonna get their turn, take the money and run, before it even gets to you!
It’s just stupid from my point of view! Maybe I am missing something tho, lmk.
Ssssshhhh, the Somalis, Nigerians and Pakistanis are going to hijack it like they did the spaza business. Don’t shout about some of these things.
Don’t touch it the government will want tax
We have historically struggled with credit & capital as black people, so stokvels also served as the closest thing to a mutual fund or private equity, if you will, just something to help you grow whatever business you were in.
So its a glorified multi person savings account that pulls interest? Give practical info my guy stop giving the chat gpt data you generate
We need new stokvel models, not just saving up food, we need to buy buildings now
Sars will come for them