Stokvel clubs advised to spend wisely during festive season

Stokvel clubs were encouraged and advised to plan in order to save money beyond the upcoming festive season during another session of the Stokvel Talk Roadshow held at Vosloorus Church of Christ, in Nguni Section, Vosloorus, on November 22.

The Stokvel Talk Roadshow sponsored by SPAR is held for the second time this year in the Kathorus area; the first segment was hosted at the True Nation Drop-in Centre venue in Moleleki Section, Katlehong, on August 23.

The SPAR national PR, communications, and sponsorship manager, Mpudi Maubane, said they are encouraging the stokvel clubs to spend wisely during the upcoming festive season and get value for all their savings.

She emphasised the critical role stokvels play in the financial planning of many families, especially at this time of year.

“Stokvels form the backbone of financial planning for so many families, especially during the festive season. At SPAR, our focus is to support these groups with reliable value, quality products, and clear information that helps them make confident purchasing decisions. When communities plan together, and retailers play their part in keeping the value chain strong, everyone benefits.

“It is important that stokvel members understand how a retailer’s value chain affects pricing, product availability, and overall shopping experience. From local producers and suppliers to distribution centres and stores, each part of the retail system plays a role in shaping what customers find on the shelves and at what price,” said Maubane.

Eric Phiri, a chief executive officer (CEO) of Stokvel Talk Roadshow, said their main objective in hosting these talks is to empower stokvel clubs so that they can play a significant role in improving the livelihoods of various families.

“Our primary goal is to ensure that stokvels formalise themselves and thereafter become viable cooperatives that will help with job creation and improve the township economy.  The stokvel clubs must use their savings to sustain themselves.

“Stokvel clubs have the means to change the economic dynamics in our townships,” Phiri shared.

Duduzile Sekete (60), a member of Bambanani Women’s Club who attended the Stokvel Talk Roadshow, mentioned that they have been attending the talks for three years as club members, and they have learned the importance of sustaining their club.

“We have also learned that bulk buying enables us as a stokvel club to save.  We didn’t know that we could actually turn our social entities into viable cooperatives, but through the Stokvel Talk Roadshow, we have learned that.

“As stokvel clubs, we would spend all the money we have saved during the festive season, but now have learned that we have to save even beyond the festive season,” Sekete added.

Another attendee of the Stokvel Talk Roadshow, Kennedy Ramoshaba (55), who is a member of Unique Social Club, said the Stokvel Talk Roadshow sessions are beneficial because they are informed about different ways of saving by the SPAR group employees, including other employees from other organisations.

“We now know that retail shops have good deals for us as stokvel clubs, and we must take advantage of that,” Ramoshaba expressed.