Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA) will host the Stokvel Financial Literacy workshop on 02nd and 03rd December 2022, in Heilbron and Qwa-qwa respectively.
Through the Stokvel Intervention Programme, the department capacitated stokvel with compliances such as FSP accreditation, CIPC registration, and SARS to assist them to leverage their purchasing power and accelerating their participation.
The aim of these workshops are to:
- ensure the stability of financial markets.
- drive transformation of the financial sector to improve access
- promote fair treatment of financial customers through a robust regulatory framework.
- provide financial education and literacy in order to have informed customers, and
- assist in maintaining the efficiency and integrity of financial markets through innovation.
MEC Makalo Mohale explained that there is a need to educate members of stokvel to enable them to leverage their collective strength to secure the advantages of being one of the biggest buyers in the economy.
“Cleary, Stokvel are the biggest economic drivers in black communities yet remains a hidden sector of the economy, it is for this reason that DESTEA has embarked on an initiative to leverage stokvel buying power in order to accelerate their participation into the mainstream economy as opposed to being inclined to just being consumers,” said MEC Makalo Mohale.
Source: Government of South Africa