It says this practice generates billions of rands annually which is shared among members every year-end.
National Stokvel Association of South Africa Chairman & Founder, Andrew Lukhele says many South Africans benefit from the stokvels. Lukhele says, “We have about 800 000 groupings which make up 11 or so millions of individuals who are involved in the stokvel market. To save money you need some kind of a discipline especially if you have to do it alone because if you are an individual it is easy for you to postpone to put money aside.”
“Now the stokvel give you some pressure and discipline to put money on the stipulated intervals. The trust factor in the stokvel as well as peer pressure these are very important basic terms keeping strong bonds in the stokvel,” Lukhele explains.This entry was posted on 26 Dec 2021,12:04PM at 12:04 PM and is filed under
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