04/07/2020
The stokvel market in S.A is estimated at over 50 billion rands annually. Millions upon millions of black people have stokvel membership.
Stokvels in S.A are predominantly ran by black people, they collectively save massive billions annually so that they can increase their buying power on groceries and beers (consumption expenditure); so that they can subsequently bargain for quantity discounts @ Shoprite, Cambridge, Pick n Pay and Spar.
They use white owned banks to deposit those billions, the very same racist white banks that don't give business loans to black owned businesses. Instead them white banks finance white businesses with our stokvel money.
What if I told you that Stokvels can serve as the biggest creditors of African government states and generate money through charging interest rates, taking into account that African States always have budget deficits, because they impulsively spend more of the tax revenue they receive.
Moreover, they can also give business loans to black businesses. The black stokvel market (R50 billion annually) can collectively fund 20 thousand black people into business. 20 thousand black entrepreneurs would then subsequently create millions of job opportunities in the black community.
They can achieve this only through black group economics, if we can collectively save our money together in order to increase our buying power, then we can save together to increase our black production power.
We also need to translate grocery and beer stokvels into supermarkets and backyard factories. Ultimately we need to translate stokvels into Black owned banks that will subsequently finance the black economic infrastructure so that we achieve black economic prosperity.
Dr Khulani Sikhosana