Stockvels: The New Word in Money-Ville

With the recent weekly household visits to project participants, fieldworkers (enterprise coaches) were more than delighted to discover that the recent Financial Literacy Training had served as an energizer and reminder on the importance of savings. A project participant, a lady in her 40’s, who operates a fast food shop in her parent’s backyard, tells her enterprise coach how valuable the Financial Literacy Training workshop has been for her, and it provided a platform for her to share financial experiences with other project participants. Since that workshop, she has joined five other project participants in forming a Stockvel. Stockvels in South Africa have provided a sometimes risky informal savings platform for many who are financially excluded (FinMark, 2013).

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