Inside the sleek digital stokvel which left members in shock, unable to pay school fees | Business

Hundreds of members of an online stokvel that promised to help South Africans achieve financial freedom are desperately seeking to get their funds back after payouts stopped and consultants stopped answering their phones.

United African Stokvel was created in March 2019 by Darren Langbein and Shirley Lynn Langbein from Gauteng. The self-described"pro-African empowerment company" promised to take stokvels into the"Fourth Industrial Revolution" by going digital. The group, which received a wealth of positive media coverage on its launch, amassed almost 100 000 followers on Facebook, where it did most of its business. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PepsiCo banks on empowerment plans for African expansion | BusinessWhen PepsiCo acquired Pioneer Foods in 2020, that R24 billion transaction wasn't only among the biggest the beverage and chips giant ever concluded outside of the US – it also paved the way for one of SA's largest empowerment deals. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »

Veuve Cliquot exploring new African markets as the continent thirsts for Champagne | BusinessVeuve Clicquot, the Champagne maker that’s part of luxury-goods powerhouse LVMH, is exploring new markets in Africa as demand for premium products rises on the continent. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »