Stokvel advice

PROPERTY stokvels are neither part of the formal business sector nor regulated in South Africa. Prospective members need to do the necessary due diligence before joining a stokvel. They should formulated their own constitutions that will deal with the rules, regulations, membership information, duties and responsibilities of each member, goals of the property stokvel, and what should happen when a member leaves or is unable to keep up with their financial obligations.