The Soweto-based property stokvel currently consists of 89 members and is operated largely via the StokFella platform. With a name that connotes to being on fire, the stokvel seeks to address some of the most burning issues in Mzansi’s economic landscape.
“Every day I see them growing, every day I see them becoming better and definitely it’s such a beautiful journey,” she said. Members have the choice between different packages which are focused on short- to medium- and long-term investment. Although each package is priced differently, the minimum joining fee for the stokvel’s packages is R200 and the minimum contribution is R340 per month.
Although much of the stokvel’s operations take place digitally, in-person meetings are still held where members are updated, educated and empowered regarding the world of commercial real estate, as well as the opportunities that exist.Sibeko added that the idea of a commercial property stokvel was a no-brainer due to the wealth potential which the stokvel industry carries.