Festive season spending | Stokvels crucial in keeping poverty at bay

JOHANNESBURG - It's that time of the year again when people overspend and forget about Janu-worry.

In the current economic climate, saving money in schemes like stokvels can help communities to ease or even eradicate the burden of poverty.

At the same time, small enterprises hope to benefit from the spending power by these stokvel groups and bounce back into the black.

READ: Stokvel scams surge

With no end in sight to the rising cost of living, there are predictions that stokvels could evolve away from lower earning groups, and become attractive to those slightly better off.

* eNCA’s Theodor Mashele reports.