StokFella Aims To Help People Through A Virtual Stokvel. StokFella is a secured online Club Savings Account that makes it easier for stokvels to manage their admin, monthly payments and claims on its website using their mobile phones or downloading its app. The Club Account will also give customers more interest when they manage their stokvel book through it.
Stokvels are an important part of Mzansi lifestyle as they bring friends, families and people with the same Money Goals together. Inspired by a South African informal savings culture of stokvels and societies StokFella was born — an MTN award-winning mobile app that not only makes it easier for stokvels to manage their monthly payments and claims online via a mobile phone or its website.
The company purpose is to put the power of informed financial management and financial decision making in the hands of our people. By providing a world-class mobile phone app that allows peers to collectively set Money Goals, save, manage, communicate and be more efficient in growing their money. It believes stokvels are the future vehicles of financial freedom, fighting unemployment and building wealth amongst South Africans.
The company’s team is fully committed to helping stokvel clubs achieve their money goals, whether they are short, mid or long-term. That is why it is consistently working around the clock to make its platform as secure, transparent and user friendly as possible to give customers less worries about their stokvel money.
Before the world was rocked with COVID-19 and the country went under a national lockdown, stokvels were used to regular face-to-face meetings. Joining a stokvel before lockdown meant being included in a social aspect of saving and often times; one would find new members joining by invitation or referral from other members only.
Then along came COVID-19 and it has changed the way people are allowed to work and socialise. With social distancing measures in place and laws that prohibit public gatherings, stokvels have been forced to adapt the way they manage meetings and communication. However, many forward-thinking stokvels who were already using StokFella have felt minimum impact. StokFella has always made social distance possible even before the pandemic of COVID-19 as it is a virtual stokvel.