Stokvels ind­aba moves to Mamelodi East

Sunday World - - World Of Jobs - Tyvi­sion Me­dia

FOL­LOW­ING the re­sound­ing suc­cess at the Soweto leg of the Stokvels and Burial So­ci­eties Ind­aba at the Soweto The­atre last month, the road show moves to Ik­a­geng Hall in Mamelodi East, Tsh­wane, on Oc­to­ber 15 and 16.

The main ob­jec­tive of the Ind­aba, hosted by Tyvi­sion Me­dia, is cre­at­ing a plat­form for stake­hold­ers to en­gage around form­ing so­lu­tions to their chal­lenges.

The ind­aba road show is in part­ner­ship with Old Mu­tual and the Jo­han­nes­burg Stock Ex­change (JSE).

Stokvels are a group of sav­ing schemes that pro­vide mu­tual fi­nan­cial as­sis­tance as well as so­cial and en­ter­tain­ment needs.

Th­ese take dif­fer­ent forms de­pend­ing on the pur­pose of the scheme, rang­ing from burial stokvels, sav­ings/money stokvels and gro­ceries stokvels to in­vest­ment stokvels and birth­day cel­e­bra­tion stokvels.

Ac­cord­ing to a sur­vey un­der­taken by African Re­sponse, stokvels are a ro­bust mar­ket in the area of tra­di­tional col­lec­tive sav­ing and are es­ti­mated to be worth some R44-bil­lion.

There are an es­ti­mated 8.6 mil­lion stokvel mem­bers in South Africa and an es­ti­mated 421 000 stokvels in to­tal.

The Ind­aba road show en­cour­ages or­di­nary South Africans to en­gage in­ter-ac­tively with se­nior rep­re­sen­ta­tives of fi­nan­cial ser­vices or­gan­i­sa­tions.

The Ind­aba strives to em­power mem­bers with in­for­ma­tion that will as­sist to­wards bet­ter de­ci­sion­mak­ing and par­tic­i­pa­tion in the econ­omy through their stokvels and burial so­ci­eties.

Through its part­ner­ship with the JSE, the Ind­aba will pro­vide par­tic­i­pants with in­for­ma­tion on how to par­tic­i­pate in the buy­ing and sell­ing of shares.

JSE head of mar­ket­ing Mpho Led­waba says en­cour­ag­ing and driv­ing an in­vest­ment and sav­ing cul­ture is a key fo­cus of the JSE’s strat­egy of mak­ing in­vest­ment ac­ces­si­ble to all South Africans.

The JSE is com­mit­ted to help im­prove fi­nan­cial lit­er­acy and for some years now, we have run a num­ber of ini­tia­tives to en­cour­age South Africans to in­vest on the stock ex­change.”

The Ind­aba also aims to cre­ate a bridge be­tween the in­for­mal econ­omy and the main­stream econ­omy by hold­ing ses­sions that deal with the work­ings of the econ­omy in un­der­stand­able lan­guage.

We be­lieve it is through host­ing this an­nual Ind­aba, as well as us­ing me­dia plat­forms such as ra­dio and tele­vi­sion, that the or­di­nary man on the street can be­gin to ap­pre­ci­ate the power they have when it comes to their money.

They also need to be aware of ways in which their hard-earned money can cre­ate more value for them, and un­der­stand how their in­vest­ment is mak­ing a con­tri­bu­tion to the coun­try’s econ­omy,” says Thabiso Ma­sudubele, the manag­ing direc­tor of Tyvi­sion Me­dia and the founder of the Stokvels and Burial So­ci­eties Ind­aba.

Ma­sudubele says, Be­ing such an im­por­tant sec­tor, we seek to en­cour­age th­ese groups not to see them­selves as mere in­for­mal groups, but as im­por­tant clients of fi­nan­cial in­sti­tu­tions.

The re­la­tion­ship be­tween stokvels/burial so­ci­eties and fi­nan­cial in­sti­tu­tions must be re­viewed with the ap­pre­cia­tive un­der­stand­ing of the im­por­tant role that th­ese groups play in the busi­ness of fi­nan­cial in­sti­tu­tions.”

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