Members of Ubhoko social investment stokvel contribute up to R5000 to help each other and the less fortunate

Ubhoko social investment stokvel.
Ubhoko social investment stokvel.
Ubhoko social investment stokvel / supplied


 The Ubhoko Social Investment Club was formed in 2011 by a group of young professional men. The members are all from different areas around the country, settled in the Western Cape due to work and family reasons and formed this support group. They wanted to spend time with like-minded people and help the less fortunate.


While their focus is saving money to support each other, the men have also decided to give to those less fortunate. Giving is one of the core principles of their club. Recently, they hired a luxury bus to take children from an orphanage and their carers out for a day at the beach and for lunch.


Ubhoko has strict rules governing the group. Membership is by recommendation – an existing member has to nominate a potential applicant. Applications for new memberships arethen discussed at their annual general meeting (AGM).

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The annual report, which provides an assessment of the club’s performance is also discussed at the AGM. Specific recommendations for the new financial year are set out. The day-to-day management of the club’s finances and administration is run by the financial management team (FMT), elected every two years.

While the FMT carries the bulk of the responsibility, each member is included in making decisions. Issues are raised at their mandatory monthly meetings.


The club has a constitution with a strict code of conduct. If a member is in breach, he has to pay a fine. The fine, like all the other money is paid into a bank account. The group’s finances are also audited.

 Members transfer between R1 500 and R5 000 into the account on a monthly basis. They can increase or decrease their contribution between January and June. However, if someone hasn’t paid for three months, they are expelled from the club. Their previous contributions go into a communal pot. The member can, however, ask for his expulsion to be reviewed.

The members believe that enforcing the rules is necessary to keep the club running smoothly and fairly. But they also believe that this should done with empathy.

NAME: Ubhoko Social Investment Club,   FORMED: 2011,   LOCATION: Western Cape,   MEMBERSHIP: 17,   MEETING: Monthly,   CONTRIBUTION: Between R1 500 and R5 000  

Stokvel Corner:    

When one by one, a group of men   – all new to the Western Cape –   found each other, the decided to make more of their friendship. They are able to support each other financially and also understand   the difficulties encountered   as they share experiences of moving   to a new part of South Africa. While they enjoy each other as friends, they also show that coming together can lead to great   things. Now, their friendship has extended   to their wives and their children. When the group arranged for children from an orphanage to be  taken out for the day, their own children were invited to share in the experience. This way, they had a fun day out while also learning about the importance of doing what you can to make the world a better place.

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