‘A step in the right DIRECTION’
Kagatelo Pele Burial Society says they teach each other about life and saving
WHY DID YOU FORM THE STOKVEL?
We started the stokvel in our neighbourhood with the purpose of teaching one another about the importance of life and saving for the future. As human beings, we come across problems in our families, so the stokvel serves as a counselling session in order to assist each other.
HOW DOES THE GROUP OPERATE?
We meet monthly to discuss our challenges and how to overcome situations that confront us on a daily basis. We also contribute towards refreshments and drinks. We have expanded and also run a burial society. When we lose a member, the stokvel contributes R6000 and when it's a family member, we contribute R4000.
WHAT CHALLENGES HAVE YOU COME ACROSS?
One member has left the group and that has left a huge financial void. We managed to cover the person’s monthly fee by increasing individual contributions.
WHAT ARE YOUR FUTURE PLANS?
We want personal growth when it comes to investing, this will benefit those who have perhaps lost their jobs. We also want to reach our goals and dreams by having our own investment plan.
Name: Kgatelo Pele Burial Stokvel Contribution: R150 Location: Kagiso Members: 19 Formed: 2000 Meetings: First week of the month