Stokvels are becoming a sought-after investment vehicle. Experts estimate the industry is worth around R44-billion. Old Mutual, says more South Africans are turning to stokvels to kick start their investment
JOHANNESBURG – South Africa’s stokvels are becoming sought-after investment vehicles.
The industry is currently estimated to be worth around R44-billion.
Investment corporations say more South Africans are now embracing it as their choice of basic investment.
According to recent savings research, South Africans only save about 15 percent of their income.
Of that, 70% goes into funeral policies and informal investments like stokvels.
Just over 20% is spent on retirement annuities or life assurance policies.
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