This Orange Farm stokvel has grown from a small friends-only club to having over 50 members

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
loading...
Loading, please wait...
Masimabane Stokvel,
Masimabane Stokvel,
Masimabane Stokvel / supplied

FORMATION

For the past decade the Masibambane Stokvel Club has lived up to its name, which means “let’s support one another”. They offer each another financial support in reaching the goals they set out for themselves each year. Their journey began with a few closeknit friends who wanted to support one another financially. It has since grown to 56 members.

 The stokvel is divided into two: in one group, members are required to make a monthly contribution of R500. The money goes towards a grocery fund which is cashed out at the end of the year. Each member receives R5 550 for their December grocery shopping. In the other group, members contribute between R1 000 and R5 000 per month. It is made up of 26 of the 56 members.

Read this for free
Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
Subscribe
Already a subscriber? Sign in