The good story from SAPPO at Stokvels
The savings club model of Stokvels have been around in African culture since the earliest times.
It is an ingenious formula where members contribute to a collective savings mechanism, and where individual members can either draw benefits from their Stokvel scheme in times of need or when it is their "turn" to get the bonus of a full pay-out. Marieta Human, SAPPO's marketing manager says that modern day Stokvel clubs have evolved and have not only grown in numbers and importance at a staggering pace, but they are now a prominent feature of community culture.
"Members rely on their Stokvel clubs to provide protection and growth of their savings, social entertainment and most importantly, 'informal' education. We realised the potential benefits of this mechanism and SAPPO therefore has engaged with Stokvel clubs over the past three years. The sponsorship involves direct face-to-face communication nationally with approximately 2 100 Stokvel members per year, through the management and organisation of Move! Magazine.
"The face-to-face interaction is strengthened by 28 pages of pre and post publicity about the Stokvel events held in major cities in South Africa. During 2018, a Soweto-based press group also joined this major trend, offering sponsorship opportunities and access to major events where Stokvel groups are in attendance.
"SAPPO was one of the first sponsors of the launch of the Soweto-based events, which will grow in numbers and frequency during 2019. Lennox Tom, SAPPO'S township brand ambassador, addressed the Stokvel members at all these events, and played some simple, easy to understand pork videos.
Recipes and aprons were also given away to all those who attended the events.