A new online and video-based study by market research specialist Ipsos has revealed that South Africa’s R50bn Stokvel sector made up of more than 800,000 Stokvel groups and 11-million members is a vast network of dynamic ‘human banks’ in the South African economy.
An investigation by the Financial Sector Conduct Authority into the United African Stokvel allegedly saw South Africans across the country being conned out of their hard-earned cash.