Stokvels must embrace e-banking

Johannesburg –  As the year nears an end, stokvel members will be receiving the money they have been saving throughout the year.

While stokvels are commendable because they encourage bulk saving for rainy days, the payout event may end in sorrow if people are not wise with their money.

Criminals know that there will be huge amounts of cash shared by people in different areas, and they are ready to pounce on those unsuspecting victims.


I urge all social groups to be vigilant this festive season. Don’t carry large amounts of cash in public because some of the people who tip-off criminals about your meetings are your own members. In this world of growing technological trends, stokvel members can visit their respective banks and arrange for an internet transfer of money to all members’ personal bank accounts.

This would eliminate the possibility of being robbed of their hardearned cash.

It hurts the most when people spend the whole year saving money only for thieves to come from nowhere and steal from them.

Be wise enough to know that carrying huge amounts of cash is not a smart move and can lead to robbery.

By Malphia Honwane Gottenburg, eManyeleti. 

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