I love stokvels because they encourage our people to save money. We are usually told that we are not good at saving money but stokvels help us prove ourselves otherwise, as they provide us with the discipline of saving. That is why I encourage everyone to join or start a Stokvel so they can get into the good habit of saving money.

Mulalo Nemataheni, CFP® and 3 friends started Mufhatu Savings Club in 2020. They were just 16 members back then. So how come have they grown to 203 members in just 5 years?

Mulalo says “We have a constitution that guides us as a Stokvel and everyone must abide by its rules. We are also very transparent and accountable to our members.” Below are the rules of the Stokvel and because they run the Stokvel so professionally, they have been able to attract more members as they know they will definitely get their money, plus interest in January yearly. So Stokvel members are inviting their family members, friends and colleagues to join the Stokvel.

Mufhatu rules:

• The sole purpose of Mufhatu as stated in their constituion is to promote savings culture and discipline.
• You contribute whatever you can monthly – there are NO minimum or maximum amounts per member
• You miss a contribution? There are NO penalties as the stokvel is to encourage the culture of saving in a positive way
• Anyone in the country and those in neighbouring countries can join, as long as you are in agreement with the constitution of the Stokvel and you are happy to abide by the rules
• You contribute whatever amount you can, whenever you can
• Distribution is strictly in January every year
• The window to join Mufhatu is January each year. You forget or miss to register on time, you are out. You can join the following year
• The joining fee is R200. This is used by the office bearers / administrators to defray their costs of running the Stokvel.

Highlights of Mufhatu Savings Club

• Mufhatu started in 2020, with 16 members who managed to contributeR136,308.13. In year 5, which was 2024, they managed to collectively contribute R1,517,681.32 from 89 active members.
• Membership grew from 16 members in January 2020, to 203 members in January 2025

Those interested in joining the stokvel, they can contact Mulalo Nemataheni as the Stokvel Secretary on 0832610700, to be part of the network so they do not miss the call in January 2026 to join the Stokvel.

I am pleased to report that Mufhatu and ThuthukaSA will be joining forces in 2025. We are going to be doing the following jointly;

• Some of the members of Mufhatu have been asking about where to from here? What other growth opportunities can they pursue?
• So as I was assisting Mulalo with her own personal Offshore Tax Free Investment, it occurred to her that some of the savings club members would be willing to join her
• They are now going to register Mufhatu Investment Club and ThuthukaSA will assist them with investing the funds as opposed to saving the money in the bank account as they have always done

If you have been thinking of joining a Stokvel, Mufhatu is certainly a Stokvel worth joining. Or you can start your own and encourage people in your circle to start saving money.

If you are a member of a Stokvel and you want to grow from saving money with a bank to investing your money, contact ThuthukaSA.