Why you should start a Stokvel?
(Thread) ππ½
(Thread) ππ½
β’ Firstly,
What is a Stokvel?
They are saving schemes in South Africa where members contribute fixed sums of money to a central fund on a weekly, fortnightly or monthly basis
Traditionally theyβve been used mainly for consumption and not investment
*Money in π money out
What is a Stokvel?
They are saving schemes in South Africa where members contribute fixed sums of money to a central fund on a weekly, fortnightly or monthly basis
Traditionally theyβve been used mainly for consumption and not investment
*Money in π money out
If Stokvels were a province it would be the second biggest province in South Africa.
They are unequivocally important to the SA economy and a lifeline to millions. #economy #Africa
They are unequivocally important to the SA economy and a lifeline to millions. #economy #Africa
β’ Here lies the opportunity,
There are over 11.5 million participants in the ecosystem that contribute more than R50 billion annually.
One in every 2 adults participate in over 800 000 Stokvels.
They help families boost disposable income.
#Unemployment
There are over 11.5 million participants in the ecosystem that contribute more than R50 billion annually.
One in every 2 adults participate in over 800 000 Stokvels.
They help families boost disposable income.
#Unemployment
Data we pulled from a few years back, shows that there is a lack of (education) surrounding the idea of using stokvels as investment vehicles rather than consumption.
Our aim at @FundUp21 is to show you that moving to the investment side is possible and easier than you think.
Our aim at @FundUp21 is to show you that moving to the investment side is possible and easier than you think.
A major problem in the S.A economy is that small businesses lack access to capital, this stuns innovation and growth
Stokvels could be bridging this gap between lack of capital and business growth.
Stokvels could be bridging this gap between lack of capital and business growth.
Why we like the Stokvel approach?
It allows for businesses to access capital at a cheaper rate
If the economy is to grow, then it must build the infrastructure that is supportive and conducive for small businesses
It starts in your community. No one is going to come save you.
It allows for businesses to access capital at a cheaper rate
If the economy is to grow, then it must build the infrastructure that is supportive and conducive for small businesses
It starts in your community. No one is going to come save you.
β’ Getting started
Itβs much easier than you think ππ½
Itβs much easier than you think ππ½
https://twitter.com/talkcentss/status/1334512575497842688
Since starting, weβve moved to a more complicated structure (setting up a company) and are still in the process of drafting legal contracts and legitimizing the setup.
You should also give this video a watch that @talkcentss put together explaining more about stokvels and how to utilize them as investment vehicles. ππ½
Another good read that explains the inner working of investment stokvels and how they are structured+ tax.
Also, what you should watch out for ππ½
Not all stokvels are designed in the best interest of its members. (Scroll to the bottom of the article)
davidketh.substack.com/p/hidden-tax-sβ¦
Also, what you should watch out for ππ½
Not all stokvels are designed in the best interest of its members. (Scroll to the bottom of the article)
davidketh.substack.com/p/hidden-tax-sβ¦
FundUp started as a Stokvel too, and we are slowly growing bigger and bigger, with investments in property (REITβs), equity, and livestock.
We continue to raise capital collectively, to acquire tangible properties we can utilize, to generate more income and create employment.
We continue to raise capital collectively, to acquire tangible properties we can utilize, to generate more income and create employment.
β’ β’ β’
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