MANY stokvels will be facing high prices when it’s time to buy groceries this December.
When these women formed Way Maker Women Empowerment Social Club in February last year to beat the rising prices, they already knew time was not on their side.
The 16 members had already met on Facebook when they started the stokvel.
They originally wanted a savings club but they realised that they would be missing on great savings throughout the whole year – far more savings than would be available at just the end of the year.
They decided to not only save to share at the end of the year, but also buy when there is a good special at any time. What they buy or save is still locked up until December.
Molly Geni, a member, said: “We wanted a way out of poverty so we started a savings club-stokvel combo – it buys now and shares later.”
Molly said they were always on the lookout for specials at shops around Joburg.
“We buy in bulk and store the stocked items at members’ places until December comes when we share it equally.”
Each of the 16 members contributes R300 every month which is saved to buy groceries at the end of the year, unless something too worthwhile pops up before then. They buy in bulk at lower prices.
They also contribute another R100 on the side as part of Way Maker’s fundraising.
They divide themselves and the fundraised cash into four. These four groups take their quarter of the budget and pay for an event or party for the whole stokvel before the year’s end. They use these parties to sell plates of food and drinks to make some extra cash for Way Makers. A plate of food is R100 for customers and R30 for main members.
