For stokvels, succession planning is also an important way to protect the wealth you build through collective saving and investing.
Bad debt is often associated with impulse purchases.
R44-billion is saved by 820 000 stokvels in South Africa each year, and more than 11-million South Africans are currently members of stokvels.
Does the store offer a secure shopping environment with electronic funds transfer facilities which are safer than cash payments?
Powered by Kunene Makopo Risk Solutions (KMRS), Imbewu Stokvest is a product that vouches for clients to accomplish their aspirations by making monthly contributions towards their savings.
However, many forward-thinking stokvels who were already using StokFella have felt minimum impact. StokFella has always made social distance possible even before the pandemic.
In its best moments, travelling with friends and family means bonding over common interests, insider jokes, laughter and moments that will be recounted at every get-together, forever.
Your group constitution governs your stokvel, so it is important that all members are familiar with it and most importantly that it is up to date.
While many South Africans think they can’t afford to travel, the reality is different.
The benefits of banking include regular monthly statements which accurately reflect balances and interest earned.