Peer-Reviewed Article November 2, 2014
THE ROLE OF STOKVELS IN IMPROVING PEOPLE’S LIVES: THE CASE IN ORANGE FARM, JOHANNESBURG, SOUTH AFRICA
Are you an author of this work?Link to your sovereign AfriScholar profile
Published in: Social Work/Maatskaplike Werk
Publisher: Stellenbosch University • South Africa • 0037-8054 • 2312-7198
Abstract
Stokvels are self-help initiatives designed to respond to the problems of poverty and income insecurity in communities. Stokvels are thus a form of informal social security. Based on a study of members of stokvels in the Orange Farm community in Johannesburg, South Africa, the article examines the role of stokvels in improving the lives of their members. The results of the study showed that stokvels enable members to meet their basic needs. Stokvels also provide opportunities for members to save and invest and ultimately to accumulate assets. The results also show that stokvels promote the empowerment of women.