The South African economy has a secret weapon – read all about it in Palesa Lengolo’s new book Stokvels: How They Can Make Your Money Work For You
More about the book!
Stokvels: How They Can Make Your Money Work For You by Palesa Lengolo is out in September from Penguin Random House.
The South African economy has a secret weapon: stokvels. If harnessed correctly, investments in stokvels could significantly bolster the economy.
The following statistics, provided by the National Stokvel Association of South Africa, are mind-blowing. At present, there are 11.4 million South Africans who are members of stokvels; around R44 billion is pooled collectively by ordinary people in stokvels; and it is saved by 820,000 stokvels.
A lot of ideas have been put forward on how these monies can be used by stokvels, but it is not really clear how these can be practically applied.
This book will appeal to readers who are already in a stokvel, those who want to be in one, and even those who never thought of joining one. It contains all the necessary information you need about this form of investment, including:
- How this collective power emerged;
- How to set up a stokvel and the admin involved in running one;
- The opportunities within stokvels and the possible collaborations with other institutions;
- Real people’s experiences with stokvels; and
- The challenges and future landscape of stokvels.
Most importantly, it explains how an individual can make money by being part of a stokvel.