After being on the market for about two and half years, the StokFella app is now the in thing for stokvels. StokFella was created by Tshepo Moloi after he identified a gap in the market. Tshepo felt the need to create an app for stokvels to manage their admin and finances.
That is how he gave birth to StokFella, an app designed to put the power of informed financial management and financial decision making in the hands of all active stokvel members.
STOKFELLA ON YOUR CELL PHONE: Currently there are just over 800 stokvels registered on the app and this is set to grow as more people learn and understand how to use the app.
“StokFella is an online stokvel platform that not only makes it easier for stokvel clubs to manage their monthly payments and claims online, but grow their savings through sound investment channels,” says Phathiswa Sefatsa, StokFella’s marketing director.
Phathiswa feels that through the app, they have revolutionised the entire industry. “We want to provide all stokvels with a world-class cell phone solution that allows them to organise, manage, communicate and be more efficient,” she says.
SOLVING A PROBLEM: Phathiswa explains that StokFella solves the problem faced by some stokvels - maladministration. “The industry has remained in the dark ages and not given an opportunity to transform to the digital age.
By bringing the industry to the digital age, we believe we can now unlock the full potential of old and new opportunities which the stokvel market can now easily take advantage of.” She says their members use the app as an administration tool. Those who have used it for both admin and transactions have managed to see their stokvel members and contributions grow. The app provides full transparency for all the members.
Phathiswa believes the app has changed the lives of people in stokvels, especially family stokvels. “The app is able to close the distance gap between people as members in the same stokvel, who live far apart, are now able to interact and monitor the funds.”
OTHER BENEFITS: The StokFella team is fully committed to helping stokvels achieve their goals, whether they are short or long-term.
They are consistently working around the clock to make the platform as secure, transparent and user friendly as possible.
“We also have investment vehicles that are linked to your group’s savings account and can help make your financial freedom a reality,” she says.
She says stokvel members can access StokFella by going to their website on www.StokFella.com via the computer, web-enabled phones or alternatively they can download the App from Google Play and iOS store to their smartphone.