Stokvels, deeply rooted in South African culture, are a powerful economic force, mobilising billions of Rands annually. By harnessing the power of data, StokveLink will provide businesses with invaluable insights into stokvel members' preferences, needs, and purchasing behaviours.
This initiative follows an online survey conducted by African Response in July 2024, which highlighted the enduring popularity of stokvels and a growing trend among younger generations seeking guidance from banks and financial advisors.
"With StokveLink, businesses can gain a deeper understanding of stokvels, their behaviours and what they are looking for," says Mamapudi Nkgadima, CEO at African Response. "This knowledge empowers them to better serve stokvels through relevant products, services, and marketing campaigns, ultimately fostering stronger relationships with stokvels and driving growth."
