Stokvel makes life-changing investments for their members
Stokvel ladies make monthly contributions and celebrate each other.
Saving and investing money can be a little challenging, especially since prices are rising and the cost of living is skyrocketing.
Ladies from Itireleng Bahloki stokvel have been fighting against prices by empowering one another through saving. The ladies joined the stokvel to build a better life for themselves.
The stokvel recently celebrated their 25 years of operating and saving. The group of ladies started with just 20 members at the Old Coronation and has since grown and expanded to other parts of the community of eMalahleni.
One of the oldest members, Portia Nkadimeng joined the group with her mother in the early years of its operation. Nkadimeng joined the stokvel when they were still contributing R650 each.
She said that she wanted to provide a better life for her children, as she was a single mother at the time.
“I have been a loyal member of the stokvel and have done so much with the money that I have received. I was able to build a four-bedroom house from scratch in Limpopo, which is a big achievement for me since I have been working odd jobs. I still work odd jobs but with the money that I am receiving from the stokvel, I plan to open an investment account for my children, so that they are well provided for even after I am gone,” added Nkadimeng.
The stokvel was established by neighbours who trusted each other, and to this day, no money has disappeared or was stolen from the group. The initiative aimed to make sure that no woman in their group suffers or lacks, providing a better life for their children.
Every month, the ladies meet for a celebration to give money to the respective recipient of the month. The group members come with their contributions and food to celebrate with others. There are currently 32 ladies in the group.
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