Stokvel helps grow women businesses in townships

2019-12-12 06:00
Athenkosi Tima is running a business of selling clothesPHOTO: SIYABONGA KALIPA

Athenkosi Tima is running a business of selling clothesPHOTO: SIYABONGA KALIPA

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A new business is helping women to boost their businesses in the townships.

The business called Spoon Money operates as a stokvel and is for female informal traders.

It encourages them to save and work with capital to boost their businesses.

Founder Nicky Swarts said members join with four women they know and trust with money.

The women must also be in need of money for their businesses.

She said when they apply to join the stokvel they have the opportunity to access credit between R2 000 and R8 000 to buy stock.

“I started this business to empower women as I believe if we improve their businesses we can advance our communities and our country,” she said.

She said they have helped more than 1 500 informal traders so far, and the majority are single parents, earning a basic income.

Swarts said their mission is to support business growth for greater financial stability.

One of the beneficiaries of the stokvel Athenkosi Tima (26) from Khayelitsha said she started selling clothes four years ago.

“The business was on and off because I did not have any money to run it properly,” she said.

Tima said her mother told her about Spoon Money this year and after doing her research about it she decided to join.

She said she was told that she needed to get more women to join so that they can be a group.

“I managed to get other women and we got R3 000 which we shared among ourselves. The money helped a lot in growing my business,” said Tima.

Tima said she would advise other businesswomen to join the stokvel because it helps. She said anyone interested can give her a call because she was made a recruiter by Spoon Money.

Her cellphone number is 084 963 3716.

For more information you can email info@spoonmoney.com or send a WhatsApp message to 078 086 8765 with your name, group name and where you are located.

Spoon Money will send details for a session.

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