We've got news for you.

Register on SowetanLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

TV show imparts cash knowledge to stokvels

Project started after realisation people lack information

Ke Zaka presenter Ayanda Allie during an interview with guests on the show.
Ke Zaka presenter Ayanda Allie during an interview with guests on the show.
Image: Supplied

We’re into the fourth month of the year and your stokvel has for many years been doing the same thing – putting money into a retailer to get groceries at the end of the year.

While many stokvels have proven that come Christmas holidays, they have enough food, what happens in January and months to come?

This is where Tyvision Media production Ke Zaka comes in with profiles of stokvels across the country, and they also provide financial literacy to these groups.

Ke Zaka producer Thabiso Masudubele says imparting financial knowledge to stokvels is one of their priorities.

Project started in 2016 after they realised that there was a lack of literacy among people. Now in season 4, Ke Zaka promises to be bigger and better.

“We’ve done a lot of work with stokvels and in one of the gatherings someone said: ‘I’ve been let go from my job and our stokvel has about R1.2m in a savings account and I tried to get a loan to open a franchise but the bank says I can’t get a loan because I don’t have collateral, but my skokvel has R1.2m in the bank.’

“We say to stokvels, why don’t you take that loan from your group and instead of having money in a savings account, put that capital to work. Obviously, there are risks but you share the business plan and you get professionals to help you,” said Masudubele.

He said these are conversations they want to keep going and help these groups with their goals and objectives.

“We have a group in Sebokeng and at the end of the year, they pride themselves with buying groceries worth more than R1m. A huge truck from a retailer comes and parks at a sports ground and they come with small vans that they have to hire to come and get groceries – 20 canned foods and 30 bottles of cooking oil. In January, there is no money and they start battling.

“Without being condescending, we say they must review their approach. Does it make sense to put money in a retailer in exchange for tin stuff or does it make sense to have that money generating more money for you and in December you can still have money to buy whatever it is you want?” Masudubele asked.

Ke Zaka season 4 airs on SABC 2 every Wednesdays at 9.30am and again at 10pm and is presented by Ayanda Allie.

“Stokvels and burial societies form an important part of the fabric of South African communities… we acknowledge this phenomenon and contribute to its continued growth. According to research, more than 11-million South Africans belong to over 800,000 stokvels – a significant part of the population. And more than 4-million of us belong to burial societies.

“This is our culture, and with some financial information, has the potential to drive inclusive economic participation for the majority of South Africans. Each week Ke Zaka introduces us to a new group, through its members. As part of the profile we explore the successes, gains as well as challenges the group has faced. Ke Zaka then continues to explore the groups next wish to get to the next level,” Masudubele said.

Ke Zaka also features on Lesedi FM on Wednesday at 2.15pm.

Masudubele said the Ke Zaka platform exists beyond television and in partnership with SABC Education and three universities, they will host a number of financial literacy events.

They will be in Vanderbijlpark, Mahikeng, Bloemfontein, QwaQwa, Soweto and Auckland Park over the next few weeks. “These events are designed to optimise interactions between stokvels, burial societies and financial services experts.”

He said there will be limited space available for groups that want to participate and groups are encouraged to secure their seats and confirm their participation by calling or sending a WhatsApp to these numbers: 081-596-1065 or 067-742-0534.


Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.