Stokvel Talk, a prominent media title in the stokvel sector, has received two nominations in different categories at the inaugural Absa Stokvel Awards.
The publication has been nodded for Community Impact and also Stokvel Enable awards. These two
categories are about giving to the communities in the townships and villages.
Stokvel Talk was founded six-years-ago by entrepreneur Eric Phiri. At the time Phiri had no resources but
he had been bitten by the media bug from earlier involvement in other media interests.
With the stokvel movement being a well-established feature in our society and the media being the most
reliable avenue to deliver news and share information, Phiri saw the opening to combine the two into a
business idea.
With the drive to make a change in society, it did not take long for Stokvel Talk to make a difference in the
lives of people from all walks of life.
Today Stokvel Talk is in business partnerships with different companies that have an interest in the
stokvel sector, and helping to promote the brands and products of those companies in the communities
via monthly roadshows.
Absa, one of the largest financial institutions in the country, has explained that decision to organise the
first-ever stokvel awards in SA was motivated by the recognition of stokvels as a formidable force in the
commercial banking sector.
“Stokvels are more than just savings groups; they are a cherished tradition, a lifestyle of collective
empowerment, and a testament to the spirit of Ubuntu. These group savings
circles bring together friends, families, and neighbours, fostering financial inclusion, disciplined saving
habits, mutual support, and community development to support social and economic development across
the nation,” says Tawanda Rumhuma, Absa’s Executive: Savings & Investments at Absa Everyday
Banking.
According to an online and video-based study by market research specialists at Ipsos, 11-million
members of approximately 800,000 Stokvel groups across the country have been able to save over R50-
billion over the years.
The Absa Stokvel Awards will recognise outstanding achievements across various categories, each
celebrating a unique facet of the stokvel lifestyle:
1. Best Community Impact Award – recognising a stokvel that has made a significant
positive impact on the community through social projects, donations, or support
initiatives.
2. Most Innovative Investment Stokvel – recognising a stokvel that has successfully
ventured into investments and/or successfully ventured into innovation-related
initiatives.
3. Best Stokvel in Financial Literacy and Leadership – recognising a stokvel that
provides financial education to their members and have good governance and
transparency in its leadership.
4. Best Travel Club Award – recognising a stokvel that has increased the accessibility
of travel and tourism.
5. Best Stokvel Enablers – recognising an organisation, business or individual who
amplify or develop and impact the stokvel community positively.
6. Best Digitally Empowered Stokvel – recognising a stokvel that effectively uses
technology for its operations and to better engage and benefit its members.
7. Most Unique Stokvel Award – recognising a stokvel that is demonstrating new
ways and saving or investing for unique impactful goals.
8. Lifetime Stokvel Achiever Award – recognising a stokvel that has lasted for many
years, while showing improvement and sustainability.
9. Stokvel of the Year – recognising a stokvel that has best demonstrated overall
success in the year.
The winners will be celebrated in a grand awards ceremony hosted in Johannesburg on 30
November 2024, after the entries and nominations closed on 30 September.
For more details on the Absa Stokvel Awards, visit www.absa.co.za/stokvelawards.
