Only, this time around, the resulting debts are no longer embedded in stokvel
practices that can be negotiated under soft conditions; rather, they risk ending up in the hands of avaricious debt brokers or, worse, in those of mashonisas, short-term, private credit suppliers.
Whiphold Ltd, the multi-billion Rand Soweto stokvel
which is listed on the Johannesburg Stock Exchange provides one of the best examples of the power of collective saving.
This theme is discussed in the context of NGO involvement and success in Botswana at the time development aid providers pulled out; and development challenges in Ghana that are linked to poor education status of women which the author believes Ghana's development approaches has to take into consideration, as well as well as the role of community based financial groupings in improving economic well-being of the stokvel
members and development in general.
This money was invested in a stokvel
(savings wheel (1)) for the farming groups, the profits of which enabled a further member group to be formed.
Heidi Kruger, the BHF's Head of Corporate Communications, compared a medical scheme to a stokvel
is a savings club where a group of friends contribute money each month and take turns taking home the month's collection.
Accompanied by uMuziwabantu Mayor, Councillor Dixie Nxiki, Scott took to the town in Harding where they met street vendors organisation members, Zamokuhle Stokvel
at the town hall.
Most comprehensively combining the activities of borrower and lender are credit-granting savings clubs, known as Accumulated Savings and Credit Associations or ASCRAs in the literature (Ardener 2010; Bahre 2007) but locally as stokvel
No recipient could afford to participate in a stokvel
, (where money or food is pooled and rotated amongst members).
Acutely aware that other local people were, like them, dependent on multiple activities and sources of income, my interviewees asserted that they could not know the specifics of everyone's 'plans'; their debtors might be waiting for a loan repayment from someone else, for a stokvel
payout, for funeral insurance, or for a disability grant for an illness.
The people's benefit scheme: A generic financial instrument to enhance stokvel
group savings and provide access to geared loans.
Ma Charity first encountered fahfee at the hostels in Alexandra during the 1980s, at the same time as she first bought funeral insurance policies, joined a stokvel
and encountered various financial services and products (she opened a basic transmission bank account at the Post Office in the 1950s).