Stokvels disrupt house market

HOW TO OWN A PROPERTY: ALL YOU NEED IS YOUR PHONE, NETWORK AND COMMITMENT

- Citizen reporter

In South Africa, wealth has never been built in isolation. Our greatest financial progress has always stemmed from collective efforts grounded in trust, shared values, and the enduring spirit of community.

For generations, stokvels have been the heartbeat of this collective approach: informal savings groups that have enabled families to put food on the table, send children to school, honour loved ones, and mark life's milestones with dignity.

Palesa Masiteng, CEO of FracProp, shares insights into stokvels and their unlimited potential in becoming far more than just financial mechanisms.

Stokvels hold the potential to move beyond traditional savings and into high-impact wealth-building arenas such as property and fractional ownership: rewriting the story of access, creating generational wealth, and uplifting communities from within.

In a country where financial exclusion is a reality for millions, South Africans have long turned to one another to create their own systems of security and support.

Stokvels have been deeply rooted as a community-based savings clubs and offers more than just economic value. They are a symbol of trust and collective effort.