As household-related costs like electricity continue to rise and stretch incomes, stokvels are becoming a go-to savings tool. FNB has revealed that a growing number of South Africans are turning to stokvels, with total inflows into its Stokvel Accounts rising 66% to R13.3 billion by December 2024. For many South Africans this form of saving can help them regain control of their finances and work towards shared goals like stationary vouchers or investing. However, just weeks after the festive season, when wallets are still recovering, committing to monthly contributions can feel more like a sacrifice. SABC News Economics Reporter Nosipho Radebe has the story.
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