CNBC Africa


Is there room for Stokvels in the era of digital banking?

PUBLISHED: Mon, 29 Jul 2019 11:35:59 GMT

It has become one of the most popular financial systems in South Africa with about 11 million people using it. Stokvels started as a town tradition for those excluded from the formal financial systems and is gradually making its way as a financial vehicle to many in South Africa. National Stokvel Association of South Africa CEO, Mizi Mtshali joins CNBC Africa for more.