Unpacking the stokvel phenomenon

IN SOUTH Africa, stokvels are celebrated as crucial lifelines for many individuals, particularly women, yet they remain shrouded in misconception.

- LUTHO PASIYA

Busi Skenjana, a seasoned marketer and stokvel expert, dives deep into this often misunderstood financial institution in her new book, Stokvel Voices: The Truth, the Illusions, and the Opportunities.

Armed with over five decades of firsthand experience, Skenjana not only dismantles myths surrounding stokvels but also illuminates their role as catalysts for economic empowerment within black communities.

Stokvel Voices: The Truth, the Illusions, and the Opportunities delves into the dynamics of how stokvels have adapted to modern challenges.

With contributions from both seasoned stokvel members and digitally savvy newcomers, the narrative offers a multi-faceted look at how these groups are changing in a digital age, while still retaining their core values.

It identifies seven essential pillars for success within stokvels, obtained from real-life examples, entrepreneurial insights and the challenges faced when aligning with brand activations.

As the author recounts her journey - from stokvel participant to successful entrepreneur - readers are treated to compelling anecdotes that emphasize the group's legacy.

The book addresses common misconceptions about stokvels, countering myths that often overshadow their true potential.

It illustrates how these savings groups finance not only school fees and groceries but also property investments, making them vital to building generational wealth.