Being together BRINGS THEM JOY
Members of Siyahluma Stokvel Group share how they are empowering each other
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