THIS is the time of the year when months of saving pays off for stokvels.
But it is also a time when the members are targeted by thugs.
That is why the members of a women’s only stokvel in Philippi, Cape Town decided to divide their savings electronically.
Nokwayiyo Stena, a member of Social Club stokvel, said they decided to transfer each member’s share into their bank account.
They will use their money to buy food and clothes for their kids.
“This is for our children. We save our money for them,” said Nokwayiyo.
The women started the stokvel two years ago and each member contributes R130 per month.
“This year we bought groceries worth R15 600.
“Our children no longer worry during the festive season.
“They know we have enough money to buy food that will last until the following year.
“We are able to buy new clothes for them at Christmas as well as new school uniforms in January.
“None of our members have to worry about school fees or money for university,” said Nokwayiyo.
Zolelwa Somana, another member, said:
“I joined the stokvel because I am a parent. In the past I couldn’t afford enough food in December.
“Now I can buy meat to braai and drinks to enjoy myself with the money we saved all year.”
