HEARD on the



Ac­cord­ing to the lat­est Old Mu­tual Sav­ings and In­vest­ment Mon­i­tor, 74% of the black mid­dle class that par­tic­i­pated in the sur­vey have some form of in­for­mal sav­ings in a stokvel or have un­banked cash.

“The re­search from the 2017 Old Mu­tual Sav­ings and In­vest­ment Mon­i­tor re­veals that stokvels con­tinue to grow,” says Ntombi Tisani, head of mar­ket­ing at Old Mu­tual Per­sonal Fi­nance.

“Forty-two per­cent of black metropoli­tan South Africans who earn more than R40 000 in­come per month be­long to more than one stokvel. Of those earn­ing more than R20 000 per month, 44% be­long to a stokvel and re­port that, if they can’t meet ex­penses at the end of the month, they will bor­row from their stokvel.”

But Tisani warns that there are some dis­ad­van­tages of sav­ing in a stokvel, in­clud­ing lim­ited ac­cess to cash; low in­ter­est earned, as stokvels typ­i­cally make use of ba­sic sav­ings ac­counts; lack of gov­er­nance and reg­u­la­tion, which could leave some in­vestors vul­ner­a­ble to fraud and neg­li­gence; and in­flex­i­bil­ity, as some funds within the stokvel may not be eas­ily trans­fer­able.


The SA Fraud Pre­ven­tion Ser­vice (SAFPS) says it can now iden­tify cer­tain char­ac­ter­is­tics of fraud­sters. Its find­ings come af­ter it sur­veyed a con­trol sam­ple of 50 000 credit-ac­tive con­sumers, who were ran­domly se­lected and be­tween the ages of 19 and 65.

The SAFPS found that fraud per­pe­tra­tors tend to have high-risk bureau pro­files. How­ever, de­pend­ing on the risk ap­petite of the lender, not all fraud per­pe­tra­tors would be de­clined if the as­sess­ment was based purely on a cred­itrisk score.

There are slightly more per­pe­tra­tors aged be­tween 25 years and 30 years than there are be­tween 30 years and 35 years, the re­sults show.

The high­est pro­por­tion of fraud cat­e­gorised by false documents and em­ploy­ment is com­mit­ted by per­pe­tra­tors be­tween 25 years and 30 years.

The high­est pro­por­tion of fraud cat­e­gorised by im­per­son­ation is com­mit­ted by per­pe­tra­tors be­tween 30 years and 35 years.

It also found the high­est pro­por­tion of fraud com­mit­ted by per­pe­tra­tors from Gaut­eng is cat­e­gorised by im­per­son­ation. In KwaZulu-Natal, the high­est pro­por­tion of fraud is in false documents. In the East­ern Cape, Western Cape, Mpumalanga and North West fraud is cat­e­gorised by em­ploy­ment.


The Health Pro­fes­sions Coun­cil of SA (HPCSA) and law en­force­ment agen­cies col­lab­o­rated to raid the prac­tice of Mashela Marthina Mok­gabudi, who was prac­tis­ing at 102 Boph­e­long Cen­tre in Springs. Mok­gabudi was struck off the HPCSA’s reg­is­ter as a phys­io­ther­a­pist back in 2013, but it was found she was still prac­tis­ing as a med­i­cal prac­ti­tioner and us­ing the ti­tle of doc­tor.

The SA Po­lice Ser­vice ar­rested her and she was held at the Springs po­lice sta­tion.

“Mem­bers of the pub­lic are ad­vised to con­sult health­care pro­fes­sion­als whose cred­i­bil­ity is known in their ar­eas. In cases of new prac­ti­tion­ers, the pub­lic is ad­vised to check their sta­tus with the HPCSA be­fore em­bark­ing on con­sul­ta­tions to as­cer­tain the health­care pro­fes­sional’s au­then­tic­ity,” the HPCSA warned.

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