This is how members of movers, shakers and instigators grew their stokvel!

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Movers, shakers and instigators stokvel.
Movers, shakers and instigators stokvel.
Movers, shakers and instigators stokvel / supplied

THE FORMATION

The Movers, Shakers and Instigators group is made up of four women who were introduced to one another by one of their members. Since then, they have all become good friends and formed a strong sisterhood. They started the stokvel to save and wanting to earn extra income, they also decided to look at the investment market and see what they could afford. They’re looking at options and hope to invest in different avenues to grow their money.

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Read more | This Siyakhana stokvel contributes R3000 so they can pay for school fees and large purchases

OPERATIONS

The women are based in different parts of Gauteng and meet every quarter but they make monthly contributions. They each deposit R300 into the stokvel account, keeping records of their payments. As they are in different areas, they choose meeting locations central for everyone. When the group gets together, they review their bank statements, check where they can invest and just talk about life and how to support one another. They recently bought shares at Barloworld and are also looking at investing in a unitrust.

THE RULES

They only have three simple rules: it is every member’s responsibility to make sure they deposit their monthly contributions on time every month; all members must attend the quarterly meeting; communication is very important. They strongly believe that communication is key, and when things are communicated, it makes it easy for everyone to understand one another and know what’s going on.

 FUTURE PLANS

The group of women hopes to register their stokvel as an investment club going forward. They want to look at more options where they can buy more shares and invest in more companies. They also want to carry on supporting one another and to try to look for other revenues to generate an extra income so they’re not dependant on their nineto- five jobs.

 NAME Movers, Shakers and Instigators LOCATION Gauteng MEMBERS Four CONTRIBUTION R300 MEETINGS Quarterly FORMED 2018.

Stokvel Corner:   The women say stokvels are all about making life easy, so they would advise people to start  looking at other ways to save and  invest, something that will also  generate a steady income.  If a stokvel is for groceries and funerals, they can still look at other ways to make their lives easier and grow their money.  They’ve noticed a lot of people  can’t sustain themselves with  their salaries, yet they’re not looking  for any other ways to save,  invest and sustain themselves in  the long run.

 If you want your stokvel to be featured in Move!, send us your  contact details and a picture of  your stokvel members to:  move@media24.com. 

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