JOHANNESBURG - In a country grappling with low savings rates and rising financial pressure, stokvels are emerging as a force for economic inclusion.
Over 11 million South Africans are part of stokvels, collectively managing over R50 billion each year.
READ | Personal finance | More South Africans embracing stokvels
Palesa Lengolo from Absa Personal and Private Banking told eNCA that stokvels are self sufficient financial system that brings access to affordability, funding and access to the high rising prices in South Africa.