SOME savings clubs share the money saved among its members at the end of the year, but not Masiphakamisane Stokvel Group.
Rather than hand over cash, the group uses the money collected to buy household items for the members.
Masiphakamisane, which has 20 members, was started just two months ago. The members come from different areas in the Western Cape such as Fredenburg, Kraaifontein, Malmesbury, Langa, Gugulethu, Khayelitsha and Philippi.
The women were all connected to Lulutho Dlova, a co-founder, through social media. Lulutho spread the idea to interested women in her network and they agreed to join.
Each member contributes R562 at every monthly meeting. However, each meeting is never dull – the women arrive to for a celebration. They wear colourful African traditional garb, sing folk songs and ululate during the day.
They meet at a different member’s house every month. Although the group is only two months old, it is already paying out its promised benefits. This came in the form of new sets of plates, cooking pots and kettles last weekend.
Group secretary Sinekhaya Mngeni said: “As women and sometimes, as single mothers, it was difficult to save money for ourselves no matter how much we knew we needed to.
“This is why we decided we needed to unite to solve our mutual money problems.
“While we aim to slowly save our cash towards the same goal, we are also talking about ways we can expand this concept as far as possible. Perhaps we can buy gas stoves, garden chairs and marquees as well.”
On the day, each member got a 21-litre pot, a 36-litre pot, a 50-litre pot, a 10-litre kettle and a set of 22 plates.
