Be­ing to­gether BRINGS THEM JOY

Mem­bers of Siyahluma Stokvel Group share how they are em­pow­er­ing each other

Move! - - STOKVEL - By Vin­cent Phahlane

WHAT IS THE AIM OF THE GROUP?

We started the stokvel with only a few mem­bers, but we have since grown. The aim of the stokvel is to im­prove mem­bers’ fi­nances, which we have man­aged to do.

We know it is im­por­tant to save money as peo­ple some­times spend money on things that are not im­por­tant. Sav­ing money works and peo­ple should not hes­i­tate to do it. We also want to sup­port each other un­der any cir­cum­stances.

HOW DO YOU OP­ER­ATE?

We ro­tate the meet­ings each month, with the meet­ings be­ing held at mem­bers’ homes. We con­trib­ute money for the re­fresh­ments.

Dur­ing meet­ings, we dis­cuss is­sues we come across along the way and come up with so­lu­tions to the chal­lenges we face. Some peo­ple have fam­ily prob­lems, so we look for a cousel­lor to help them deal with their chal­lenges.

WHAT HAVE YOU ACHIEVED?

We know that peo­ple lose their jobs and end up de­pend­ing on so­cial grants. This leads to them fall­ing be­hind on their con­tri­bu­tions. So, we help them look for jobs.

Some of our mem­bers did find jobs and we con­sider this as one of our great­est achieve­ments.

WHAT ARE YOUR FU­TURE PLANS?

We want to open a cater­ing com­pany in or­der to gen­er­ate money for our stokvel out­side of our sav­ings. We are look­ing at cre­at­ing em­ploy­ment for un­em­ployed peo­ple in our com­mu­nity. We want to in­vest in the fu­ture to gen­er­ate an in­come for the stokvel and have our own re­sources.

We want to con­tinue look­ing for in­vestors who will in­vest in the stokvel, so we can grow and be able to help peo­ple. We are also look­ing for­ward to grow­ing our mem­ber­ship.

NAME: Siyahluma Stokvel Group FORMED: 2015 LO­CA­TION: East Lon­don MEET­ING: First week of the month MEM­BERS: 20 CON­TRI­BU­TION: R100

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