Stokvels: How They can Make Your Money Work for You
Palesa Lengolo
Sep 2019 · Penguin Random House South Africa
5.0star
6 reviewsreport
Ebook
168
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About this ebook
The South African economy has a secret weapon: stokvels. At present, around R44 billion is saved annually by 11.4 million South Africans in 820 000 stokvels. But how can you harness this collective power to achieve your savings goals? This book simply and clearly explains basic financial principles and how to make sound financial decisions, and contains all the necessary information you need about stokvels, including how stokvels emerged and how they have evolved; how to set up a stokvel, and the admin, challenges and benefits involved in running one; the opportunities stokvels provide and how financial institutions, retailers, corporates and businesses that deal with them can leverage their purchasing power; and the future landscape of stokvels. Whether you’re looking to fund your monthly groceries or have set your sights on buying property, joining a stokvel can help you achieve your goal quickly, without having to borrow money from the bank. Appealing to readers who are already in a stokvel, those who want to be in one, and even those who never thought of joining one, this book explains how to use the power of a collective to save for a goal, make money on investments, and, ultimately, achieve financial security.
Ratings and reviews
5.0
6 reviews
Lehlagare
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June 21, 2020
You changed my perception around stockvels Palesa. The focus is to not only have grocery and funeral stockvels, but to have business and investment stockvels. Thank you for this book, it was worth it
Trevor Zondo
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January 23, 2024
good read 👍
About the author
Palesa Lengolo is a finance professional with 10 years’ experience in financial services in the fields of accounting, investments and banking. With qualifications in Accounting Science and Financial Information Systems, she is a member of the South African Institute of Business Accountants. While she’s passionate about her corporate career, she is also committed to empowering people with investment and financial education via Palengo Holdings, an investments holding company. Palesa has been featured on CNBC Africa, Metro FM, Moneyweb, Power987 FM, CliffCentral, DStv 157, Soweto TV and YFM.
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