One of Gauteng’s oldest stokvels has found an innovative way to control its member contributions with money not exchanging hands to eliminate theft and robberies, which are common at this time of the year.
Stokvels are woven into SA’s financial DNA and are used by families to cushion the financial burden that many often experience in January.
For more than 15 years, Itireleng Bokamoso stokvel, based in Diepsloot and led by Irene Thathani, has not only survived hurdles but flourished through discipline, transparency, modern thinking and a sisterhood built on trust.
“We started this stokvel in 2006 when life was still a little easier,” said Thathani.
“Back then, we were each contributing R100 a month. Today, things have changed, and we had to change with the economy.”
The stokvel now has more than 80 members from Diepsloot, Soweto, Pretoria, the Vaal and Limpopo, proof that community support can stretch far beyond neighbourhood borders.
However, after Covid-19 and the rising cost of living, the group adapted. Members now contribute R1,000 monthly, which is broken into R400 for groceries, R200 for meat, R100 for cold drinks, R100 for snacks and R200 for alcohol.
The spoils are shared in December, and they all get given vouchers for snacks and alcohol, while the rest are bought collectively at their chosen Makro branch, where they get discounts which they had negotiated with the shop at the beginning of the year.
“We realised people prefer their own choices when it comes to drinks and snacks for their children, so we give vouchers instead,” she said.
One of the stokvel’s biggest strengths and a key reason it has never fallen victim to scams or internal conflicts is how it handles money. “We don’t deal with cash at all,” Thathani stressed.
Members meet only at Makro for its monthly contribution sessions. “We don’t meet in our homes. We meet at Makro, where it is safe, and they have given us a space to gather every month. We don’t want to be scammed or robbed.”
Transparency is also non-negotiable.
It is at these meetings where members pay their contributions directly to the shop and then produce the proof of payment to Thathani for safekeeping.
“We don’t hide anything from our members. Leaders don’t make decisions alone; everyone is involved,” she said.
For many families, the stokvel is a financial buffer that carries them deep into the year. “These groceries can last until September, depending on your family size,” said Thathani.
This means January, often a financially stressful month, becomes much easier. “Come January, we don’t panic about food. We can focus on school fees and uniforms knowing our cupboards are sorted.”
Like all stokvels, Itireleng Bokamoso faces challenges with some members borrowing from their year-end portion and later struggling to repay. To mitigate this, the stokvel charges R100 interest on loans.
“We don’t want to burden people with heavy interest, but we add R100 just to encourage discipline,” Thathani said.
We don’t want to burden people with heavy interest, but we add R100 just to encourage discipline
— Irene Thathani
Still, Thathani believes the stokvel’s longevity is rooted in something deeper than rules. “We are driven by love and the desire to see our stokvel flourish. That’s what has kept us going for all these years,” she said.
In a time when stokvel fraud dominates headlines, Itireleng Bokamoso stands out as a model of safety, accountability and women’s financial empowerment, proving why, for many South African women, stokvels remain not just a tradition but a trusted survival tool.
Sowetan
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