R50 billion invested in stokvels in SA annually
1,602 views · Published 7 August 2017 · 9:47 · Indexed 21 September 2026
Channel: SABC News · 2017 · News & Politics
According to research that was conducted this year R50 billion is annually invested into stokvels in South Africa and 74% of black middle class respondents who were part of research have some form of informal savings or unbanked cash. According to research from the 2017 Old Mutual Savings and Investment Monitor about 42% black metropolitan South Africans who earn approximately R40 000 per month belong to one or more stokvels. The research also points out that 44% of people earning R20 000 per month borrowed from their stokvels if they cannot meet there monthly expenses. Joining us is Ntombi Tisani, Head of Marketing at Old Mutual Personal Finance. For more news, visit: http://www.sabc.co.za/news
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