Quick Hot Tips

• Stokvel Tip: If a stokvel requires you to recruit members to secure a larger payout on your behalf, it is likely to be a ponzi scheme. You should avoid these.

• Stokvel Tip: It pays to be vigilant! Constantly check bank statements to track the stokvel’s payments and the total balance.

• Stokvel Tip: Even though stokvels are largely informal, they can register with the National Stokvel Association to provide some level of legitimacy.