Five problems we solve, and how.
In a TymeBank-commissioned survey, 76% of people ran out of money before month-end. Standard Bank data on 402 000 clients showed that the day before payday, 21% had R1 000 or less and 28% were overdrawn.
A Stockvel puts money aside on payday, before it gets spent.
Source: TymeBank survey via BusinessTech, 2019 Source: Standard Bank data via EWN, October 2024When money is easy to reach, it gets spent. Good intentions are not enough.
Money in your Stockvel is locked. It only comes out early if every single member agrees. The lock is the feature — it is what makes you a saver.
In a traditional stockvel, one treasurer keeps everyone's cash. If it goes missing, the whole group suffers, and the treasurer is often blamed even when they did nothing wrong.
In The Stockvel App, no single person can touch the pot.
Not everyone has a church, a workplace or a family stockvel to join.
Discover lets anyone find a public Stockvel near them and ask to join.
Notebooks get lost. Screenshots get deleted. Arguments follow.
The app keeps one true record that every member can see, with every payment, vote and payout in the open.
NASASA reports about 800 000 stockvels with 11 million members, contributing about R50 billion a year.
Source: Daily Investor, citing NASASA