Meet Silindile Leseyane, the co-founder of Sakhisizwe Property Stokvel A property investor and coach by profession, Silindile Leseyane is the co-founder of one of South Africa’s most successful property stokvels.

A property investor and coach by profession, Silidile Leseyane is the co-founder of one of South Africa’s most successful property Stokvels, Sakhisizwe Property Stokvel. Photo: Supplied/Stokvel Talk
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Sakhisizwe Property Stokvel has been around since 2018, and within a year of starting the business, Leseyane was awarded the 2019 Investor of the Year award for Innovation.

For Leseyane, stokvels were a large feature in her childhood. She saw many of her family members enter into various stokvels, which is why it was only natural for her to combine it with her profession, she says.

 

“I grew up in a family where moms, aunts, and neighbours participated in all kinds of stokvels. I saw first-hand the tremendous benefits of belongings to a stokvel. Whilst growing up, we had ‘backrooms’ which is what first introduced me to the benefits of property investing. So for me, it was a no-brainer to combine the best of both.”

 

At the time when Leseyane won the Investor of the Year award, her stokvel company consisted of 60 members. Since then, the stokvel has grown immensely.

 

Sakhisizwe Property Stokvel started on the 30th June 2018, and it currently has about 300 members. We invest in investment properties for the purposes of generating an income for the benefit of the members,” she says.

 

Having invested over R15 million, and in over 20 properties, the Sakhisizwe Property Stokvel continues to grow from strength to strength. Leseyane spoke to Stokvel Talk about her stokvel journey so far.

 

Stokvel Talk: Can you tell me a bit about how your stokvel? How does it work?

 

Silindile Leseyane: We have two clubs within the stokvel. The one is called the Funders Club and the other is called the Owners Club. The Funders Club provides funding to other property investors who need to raise money for various projects. The investments in the Funders Club are short-term in nature, about 12 months, and the members receive a fixed income as interest income.

 

Our Owners Club is where the members collectively co-own the properties. We buy investment properties for the purposes of owning them and earning rental income. This is a more long-term investment. Our members choose which club to belong to, and can belong to one or to both. We have collectively raised close to R20 million, [which] has been invested in various projects since we started. 

 

What kind of challenges does Sakhisizwe Property Stokvel face? And conversely, what is your favourite part of running this stokvel? 

 

For our Owners Club, the challenge is getting financing from the banks. That is why we need to buy our properties cash, [but] raising enough money to buy a property takes some time.

 

I love the sense of community that the stokvel provides. We grow and learn together whilst co-investing. The members are all very pleasant and I have never had any issues with them. I also like the fact that we are seen to be pioneers and innovative by industry peers in the way that we are investing in property. 

 

Do you have any tips or pieces of advice for people who would like to start their own property stokvel?

 

My advice would be to get the right knowledge about the type of investment you would like to get into. As a stokvel coach, this is the first piece of advice I give to people who are interested in starting a property stokvel.

Property is very expensive and you don’t want to make mistakes. Get the right education and knowledge, [and] get a coach who will work with you to advise you and walk the path with you.

[Also], understand that you are in the privileged position of dealing with people’s money. Treat them with respect and run your stokvel professionally.

Finally, make sure that all your legal agreements are drawn up so that there are no misunderstandings.

 

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