StokFella: Keeping the culture of stokvels alive through technology

StokFella is an app that offers stokvels an opportunity to manage their financials and admin through one central point.

It also helps users locate a local stokvel, as well as information with the terms for joining them e.g. monthly contributions, dates for meetups, details of members etc.

Founder and entrepreneur, Tshepo Moloi speaks of how the technology was a natural transition for him.

The stokvel industry has been around since the 19th century, and its a core part of South African culture. It was more natural that somehow the evolution of technology versus what we do on a daily basis comes together.

Tshepo Moloi, Founder of StokFella

He explains how the application works.

StokFella provides you the platform and ability to create your own group and manage your members. We mimic your stokvel behavior through the application. You have the ability to invite your stokvel members, manage your claims, meetings and minutes.

Tshepo Moloi, Founder of StokFella

We are saying we will make it more efficient for you, so you do not have to worry about who has paid, who hasn't paid, who is late on payment. The system does that automatically for you. Saying to the executive now enjoy the culture of your stokvel.

Tshepo Moloi, Founder of StokFella

The business is worth more than R 5 million since it's launch in 2016.

Click on the link below to listen to the full audio...


This article first appeared on 702 : StokFella: Keeping the culture of stokvels alive through technology


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
AirBnB empowers townshippers to capitalise on tourism economy

AirBnB empowers townshippers to capitalise on tourism economy

Fifteen Cape Town township residents had an opportunity to hone their hospitality and entrepreneurship skills.

Local prof uplifts rural women through financial literacy

Local prof uplifts rural women through financial literacy

Professor Linda De Vries spends her free time teaching disadvantaged women how to be business savvy.

Seola Mashamaite's brainchild 'Mon-Cal' ensures industry equipment up to scratch

Seola Mashamaite's brainchild 'Mon-Cal' ensures industry equipment up to scratch

Meet this inspiring woman who graduated as a metrologist, worked in a calibration business, before starting her own.

South Africans Doing Great Things: Raymond Ledwaba

South Africans Doing Great Things: Raymond Ledwaba

Raymond Ledwaba is a Chartered Accountant by profession and the CEO of ITTHYNK Smart Solutions.

Small business guru Pavlo Phitidis gets personal, opens up about his own money

Small business guru Pavlo Phitidis gets personal, opens up about his own money

Bruce Whitfield interviews the famed entrepreneurship expert about his attitude to money (hopes, fears, successes, failures...).

Sylvester Chauke Opinion: The miseducation of Twitter-ville

Sylvester Chauke Opinion: The miseducation of Twitter-ville

Award-winning entrepreneur and brand architect Sylvester Chauke says not every tweet is actually worthy of our energy.

Popular articles
Jacques Pauw: We need more evidence on the 'The Lost Boys of Bird Island' book

Jacques Pauw: We need more evidence on the 'The Lost Boys of Bird Island' book

Investigative journalist and author Jacques Pauw shares his thoughts on 'The Lost Boys of Bird Island' book.

'There is no verse in the Quran that says women should cover their faces'

'There is no verse in the Quran that says women should cover their faces'

Dr Taj Hargey says he is advocating for the ban of women wearing burkas in public because they look ridiculous.

[WATCH] Kid goes from 'be a fart machine at work' to 'I love you dad'

[WATCH] Kid goes from 'be a fart machine at work' to 'I love you dad'

Khabazela shares tweets & videos that have gone viral including a parrot that told firefighters the F-word during its rescue.

Stellenbosch University's Tygerberg campus declared smoke and tobacco-free zone

Stellenbosch University's Tygerberg campus declared smoke and tobacco-free zone

The campus is aiming at maintaining and promoting health, wellness and quality of life to its staff and students.

[LISTEN] IRR believes list of targeted farms is genuine

[LISTEN] IRR believes list of targeted farms is genuine

Institute for Race Relations researches Terence Corrigan explains why they believe the list Afriforum has released is genuine.

[LISTEN] Is your phone listening in on your conversations?

[LISTEN] Is your phone listening in on your conversations?

MD at World Wide Worx Arthur Goldstuck explains how your phone may record your voice conversations.