Free State Small Business Development hosts Stokvel support programme, 16 Nov

Free State stokvels injected with much needed support

Better or improved understanding of Stokvel operations and how improved investment plan and general management of money could result into bigger and better benefits for Stokvel members, has attracted governments attention.

In conjunction with Old Mutual and Stokvel Academy, the Department of Economic, Small Business Development, Tourism and Environmental Affairs in the Free State has initiated a Stokvel support programme.

Announced earlier this year, during MEC Makalo Mohales budget speech, the ultimate aim of this programme is to assist stokvels to realize the power of their money. The centrepiece of this invitation is to assist Stokvels to move from being consumers and leverage on their purchasing power in order to accelerate their participation into the mainstream economy as opposed to be just consumers of goods.

Stokvel Academys signature programme of improved Stokvel administration will assist Stokvels in the Free State to navigate pitfalls that offer results in conflict. Old Mutual will introduce Stokvel members to some financial management through this popular on the money programme.

In an effort to make this a reality, a seminar has been organised for about 500 Stokvel members in Fezile Dabi District to be provided with Financial Education.

Source: Government of South Africa