INSIDE YOUR POCKET: Stokvels show resilience despite tough economy as savings rise by 42% to R8.3 billion.
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GUEST – Cebile Magongo, FNB cash investments growth specialist
As a testament to the resilience and dedication of South African stokvel savers, FNB revealed that its customers' stokvel net deposits have increased by 42%.
Since November 2019, FNB stokvel customers have continually increased saving via a stokvel surpassing the R8.3 billion mark in total member contributions. The growth is a potent indication of the Stokvel members' financial tenacity in the face of a challenging economic climate.
As a testament to the resilience and dedication of South African stokvel savers, FNB revealed that its customers' stokvel net deposits have increased by 42%.
Since November 2019, FNB stokvel customers have continually increased saving via a stokvel surpassing the R8.3 billion mark in total member contributions. The growth is a potent indication of the Stokvel members' financial tenacity in the face of a challenging economic climate.
