Stokvels have evolved into one of South Africa’s most dynamic, people-driven financial safety nets, helping families navigate rising living costs, particularly when it comes to groceries. Historically seen as informal savings schemes rooted in township and rural communities, stokvels were once primarily associated with funeral policies to ease the financial burden of life-changing events, such as the death in the family and loss of income. But over the years, they have transformed into an adaptive, empowering financial ecosystem, shaping how thousands of households survive and thrive in today’s strained economy.
According to the National Stokvel Association of South Africa, there are now over 125,000 registered stokvels, with millions of South Africans pooling resources in various forms, including grocery clubs, savings circles, social groups, and investment groups. The Financial Sector Conduct Authority (FSCA) estimates that stokvels collectively channel over R50 billion annually, underscoring their growing economic clout.
What’s remarkable is how these community-driven initiatives have embraced technology, allowing them to operate with greater efficiency, transparency, and security. Gone are the days when stokvels were exclusively the domain of older generations, who handled physical cash. Today, younger members are reshaping the landscape, leveraging WhatsApp groups and digital platforms to communicate, record transactions, and make collective decisions with speed and confidence, according to recent Ipsos research.
Grocery stokvels have become indispensable for families battling high food costs. By pooling funds, members buy essentials in bulk at significantly lower prices, saving not only on groceries but also transport costs — a crucial benefit for families in peri-urban and remote areas. Beyond financial relief, stokvels foster deeper community bonds, promote disciplined saving habits, and restore a sense of dignity and resilience in challenging times.
Although headline inflation and food price pressures have cooled slightly, households remain under strain from escalating electricity tariffs, municipal costs, and stagnant incomes, meaning creative, community-driven savings solutions remain vital.
For its part, SPAR, which caters to various income streams through diverse store formats, offers savings that help ease consumers’ financial pressure. The SPAR Rewards Card is a powerful tool for consumers, offering more than just savings. The more consumers save, the more they increase their chances of winning amazing prizes through on-going campaigns like ‘Win A Car.’ This long-running initiative is specifically designed to recognise and reward a culture of savings among our loyal customers.
Recognising that affordability is not just a luxury but a necessity, SPAR also subsidizes a range of consumer essentials, helping shoppers maintain access to affordable and quality food during this uncertain and uneasy economic environment.
“As a SPAR brand, our sustainability purpose is rooted in building a better future for all,” said Mpudi Maubane, SPAR National PR, Communications and Sponsorship Manager. “We are committed to making shopping more affordable and convenient, which is why we continue to scale up our user-friendly SPAR2U App, providing easy access to our various store formats and brands.”
The SPAR Rewards Card also offers tangible relief, unlocking monthly savings and exclusive promotions, amplifying the value shoppers get from every rand spent.
Maubane adds, “Our SPAR2U App offers unparalleled convenience, including free grocery delivery for registered stokvels with selected SPAR stores, saving valuable time and fuel. We also recognise the power of buying in bulk, offering significant discounts and working directly with stokvel groups to meet their specific needs. Our independent retailer model further empowers stokvels, allowing them to strike bespoke deals with their local SPAR stores and maximise their savings on essential items.”
As South Africa marks the end of National Savings Month, the message is clear: collective savings models, such as stokvels, are no longer just coping mechanisms — they are strategic, community-rooted solutions for building financial security and food resilience. By harnessing technology and the power of unity, stokvels are helping households chart a more sustainable, dignified path forward.