By Buziwe Nocuze
Every year, millions of South Africans join stokvels in the hope of saving enough for the festive season and the new year.
According to the National Stokvel Association of SA, at the beginning of this year, there were more than 800,000 active stokvels in South Africa, with a combined total of more than 11 million members. The stokvels collect over R50 billion in savings contributions from their members every year.
Some stokvel members save to buy groceries, some save for school fees and others buy cows to share for meat.
A Cape Town group of 11 women and one man started a stokvel for groceries; they buy supermarket stamps to use during December.
Anelisa Lufundo, 36, says she is proud of herself after joining a group contributing money to buy the stamps at one of the big retailers in the country.
“I didn’t hesitate to join them because I knew December would come, and the savings stamps will come in handy because I can buy groceries, uniforms, and stationery for my children.”
Joining a group is very different from trying to save all year on your own.
“Stokvels are about discipline and sacrifice is very important as we are governed by the constitution and when you don’t follow it there are fines.”
On a monthly basis, the group members, calling themselves Bread Winners, contributed R400 each and bought the savings stamps.
“We kept all our savings stamps with one member because we didn’t want to use them during the year. We only got them on Saturday so we can go shopping before Christmas,” Lufundo said.
Lufundo advises people to start doing the same to stress less during Christmas.
Sinewonga Gqwetha, who is the only male in the stokvel, says he is proud of himself for managing to contribute throughout the year.
“This was my first time doing this and I thank Lufundo for advising me to be one of the group members. Now I can enjoy Christmas peacefully,” he says.
Other groups have the same number of members but contribute only R200 each month.
Nondumiso Payi joined her grocery group to relieve financial pressure.
“Festive season comes with pressure, kids need new clothes and gifts, but we all know that they will need food even after getting new clothes.”
The groceries will make a massive difference because the money she was going to use for groceries can be used for stationery.
Pictured above: Bread Winners Stokvel club members
Image Credit: Buziwe Nocuze
