Whilst you are sitting in lockdown, now may be the time to turn that WhatsApp group into an investment club. Maya (@mayaonmoney) and Mapalo (@womanandfinance) chat to Palesa Lengolo, financial educator and author of Stokvels: How they can make your money work for you, about the various investment products and opportunities available to stokvels. She also provides tips on what to do – and not do – when setting up your own investment stokvel.
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Hi Maya,
Do you have any thoughts on how stokvels can go about shifting the incentive from short term investing to long term investing? how do we convince low-income workers that they stand to gain more from investing for the future?
I think you need to do both. People rely heavily on those funds for annual costs, but perhaps agree to a percentage going to longer-term. It is a lot about education – I have videos on my website about the power of compounding. You are welcome to use those. I also find for some investors they prefer tangible investments like cattle or property. Maybe check out http://www.svcapital.co.za