Ntombi Tisani Why your stokvel needs to be more than a deposit box Stokvels are on the move: moving from villages to cities, from mattresses into savings accounts and investment instruments. And as they move, they evolve and their potential for growth and their ability to create wealth increases. “Stokvels have progressed in both the way their role is perceived and in the way they operate,” says Ntombi Tisani, Head of Marketing at Old Mutual Personal Finance. “While they continue to play a key role in our communities; the arrangement of stokvels is increasingly reflective of changing social dynamics. These include expanded definitions of stokvels as hubs for socialising, helping to reduce costs, realising shared goals – like savings for holiday travel, building commitment and spreading financial education.” As South Africa’s R45 billion stokvel industry continues to grow, more and more financial solutions are being designed for the nation’s stokvel groups, now estimated to be...