Publications
Partners
IT is that time of the year, where people get together and enjoy their money that they have been saving throughout the year via stokvel. It is common for women to be part of stokvels as they are the ones who usually take on more responsibilities at home.
According to research by the National Stokvel Association of South Africa, some 11,4 million South Africans are members of stokvels.
Stokvel money is generally used to buy food, on Christmas shopping, clothes, household goods, school fees, holiday travel expenses and debt.
Echo will be compiling the Echo Stokvel supplement that will be out in December, where people will get an idea of where to spend their money so that they can save.
Echo also spoke to some people who are part of a stokvel to get their views.
Nokwanda Mkhize from Imbali Unit J said it is her second year now that she has been part of a stokvel and she thinks it is the easiest way to save.
“I believe that this is something that everyone needs to be part of. I have tried saving my money through the bank but when I needed it I would go anytime, give the bank notice and get my money. But with stokvel, you only get it at the end of the year. With the money I get from stokvel I am able to do a lot of things, from shopping to paying my child’s school fees next year. Stokvel is not only about saving money for shopping or groceries but you can also use it to settle your debt or buy furniture or even pay a deposit for your car,” she said.
Sphumelele Nzimande said: “I never liked being part of a stokvel before, until my mother told me how it would help me if I joined. At first I had my doubts but now I am so happy and I have decided to be part of stokvel every year. It was a bit difficult at the start knowing that there was money that was going out of my account every month. But I am grateful to my mother because I am going to have money this festive season and I will not use my salary. Apart from saving money, stokvel is also a nice way of spending time together and empowering each other. It is also about womanhood and trust because you cannot play stokvel with someone you do not trust,” she said.
Nazeem Essa, manager at Dibson Cash and Carry, said when it comes to December, they always make sure that they are ready because they know many people will be shopping for stokvels. “We always make sure that we get the freshest stock from our suppliers before they close for the busiest time in December. We make sure that our warehouse keeps the fresh stock so that our customers will get it fresh when they come to purchase. We also liaise with the transport people to help our customers get their goods to their homes. We also try to give the best possible prices we can arrange.”
