What you need to know about stockvels before joining one
Today, more stokvels for various needs and services are being developed to assist individuals grow economically, get empowered and better their lifestyles.
Review did some research to find out what people need to consider and know before joining a stokvel club.
According to Mokgadi Makwala (28), who is fairly new to the world of stokvel clubs, the concept can get overwhelming because of members with different views and opinions, which could lead to conflict and as a result, collapse the club before missions, goals and visions are met.
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“Most of us in our clubs are fairly new and hence, most of what we know about stokvels is information that comes from friends and family members who have been part of one before. My advice is to gather as much information about the specific clubs before joining up,” she explained.
She explained how stokvels differ in terms of how they are run. For instance, some stokvels are solely for household basics such as toiletries and groceries, which are shared equally among members either once or twice a year. This is about bulk shopping. Members invest a fixed amount of money, which is agreed upon by all members, into an account and then rotate and receive a lump sum of the combined contributions. In most societies, a coin is tossed to select and choose who will be first to receive either the first lump sum with regards to the money and in terms of perishables, every member receives their fair share during the distribution.
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Members of stokvels need to be understanding and compassionate towards one another as individuals differ in terms of living standards. Roles and duties can be distributed amongst members to ensure all parties feel and are involved. From treasurers, chairpersons, secretaries to many other roles that can be developed to ensure all parties are happy.
Today, more stokvels for various needs and services are being developed to assist individuals grow economically, get empowered and better their lifestyles. Stokvels for property, education, employment (businesses) and various others now exist.
For more information on stokvels, you can visit Nasasa’s (The National Stokvel Association of South Africa) website.
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