Unsung rock stars of the rand

CELEBRATION: ABSA HONOURS STOKVELS AS SOUTH AFRICA'S QUIET FINANCIAL HEROES

- Ina Opperman

South Africa has many heroes. We often see them in the media: athletes, activists and even rock stars.

But the real heroes, the real rock stars are never paraded for everyone to admire although they have a huge impact on communities: stokvel members.

Absa is an institution that honours these heroes with the Absa Stokvel Awards, that will be held for the second time this year. The winners will be announced on 29 November, while nominations close tomorrow.

The awards celebrates the remarkable contributions of stokvels to their communities and the economy. With a collective prize pool of R1 million, this prestigious event recognises outstanding achievements across various categories, shining a light on the power of collective savings and community support.

“Stokvels are not merely financial mechanisms. They embody a revered tradition that connects us all,” says Tawanda Rumhuma, executive for savings and investments at Absa Everyday Banking.

“That is why we celebrate not only the winners but also the spirit of unity and resilience demonstrated by stokvels across the nation.”

To celebrate these special heroes in our communities, we take a look at last year's winners: