Crunching the numbers

2019-11-27 06:01
PHOTO: 1LIFE

PHOTO: 1LIFE

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REGISTERED STOKVELS

There are currently 81 000 stokvel groups registered with the National Stokvel Association of South Africa, comprising a total of 11 500 000 members.

RESEARCH

According to recent Nedbank research, 11 million South Africans are members of stokvels with around R44 billion saved in 820 000 stokvels in South Africa annually.

MEMBERS

Research conducted by Nedbank indicated that 57% of stokvel users are female, with the most popular types of stokvels being grocery stokvels and burial societies.

PURCHASES

Nedbank revealed that two-thirds of grocery stokvels make bulk purchases from various retailers and wholesalers once a year, in quarter four.

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