The collective value of deposits into stokvels in a single year would be almost enough to crack SA’s list of top 20 fund managers by assets under management.
Citing data from the National Stokvel Association of SA , FNB said in February the country has about 810,000 active stokvels — SA’s take on informal rotating credit unions or saving schemes — which collect about R50bn in savings annually from more than 11-million members...