The South African stokvel sector is valued at R50- billion, is made up of more than 800 000 Stokvel groups and 11-million members according to an Ipsos study. Two and a half billion of the world’s working adults are excluded from financial services and in South Africa, stokvels are one of the most important microfinance instruments used to
bridge this gap. Over the years financial institutions have also rushed to create accounts and other financial instruments to meet the demands of stokvels and formalise and innovate the ways in which these funds are invested. These trends are a sign that
this age-old savings method is likely to continue to grow in the future.

The South African stokvel sector is valued at R50-&nbsp;billion, is made up of more than 800 000 Stokvel&nbsp;groups and 11-million members according to an Ipsos study.&nbsp;Two and a half billion of the world&rsquo;s working&nbsp;adults are excluded from financial services and in&nbsp;South Africa, stokvels are one of the most&nbsp;important microfinance instruments used to bridge this gap.&nbsp;Over the years financial institutions have also&nbsp;rushed to create accounts and other financial&nbsp;instruments to meet the demands of stokvels and&nbsp;formalise and innovate the ways in which these&nbsp;funds are invested. These trends are a sign that this age-old savings method is likely to continue&nbsp;to grow in the future.

METRO FM Talk with Faith Mangope

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