Sakhisizwe Property Stokvel, were very proud and honoured to have been featured at the first ever National Stokvel Imbizo that was held on 29 February 2020 at Motswako Lifestyle Lounge, in Kaalfontein, Midrand.
Gavin Nyiko Mkhabela, who is a big advocate of using Stokvels to create wealth, created the Imbizo.
Silindile Leseyane, our Sakhisizwe Property Stokvel Founder and chairperson shared the stage with other game-changers from Mining, Franchising, Farming, Legal, Compliance and Personal finance.
Speakers included owner of multiple franchises, Bathabile Moreki, The founder of Nothile Consulting https://nothile-consulting.business.site. She started by challenging the audience on what they thought their industry’s contribution to the GDP (Gross domestic product is a monetary measure of the market value of all the final goods and services produced in a specific time period) was. It was interesting to note the significant 15% contribution contributed by the franchising industry to the national GDP.
She went on to advice the audience to consider using the franchise model into Stokvel’s or the different brands, as there are great benefits to using this model, besides the good returns on investment (ROI) and high success rate.
Franchises are also the most funded businesses. Organizations such as Small Enterprise Finance Agency (SEFA) and National Empowerment Fund (NEF) are just some that provide funding to these type of businesses. It is clear that a lot of work still has to be done to educate people. Franchising is still only exclusively associated with the well-known brands; such as KFC, MacDonald’s, Engen etc.
It is important to note however that these brands do not own the model but they just adopted the franchise model.
Namasina Zulu, African Biz link founder simplified mining in the most amazing way, she pointed out that for one to get into anything it is important that they break it down into different activities and identify inputs that are required; that makes up the value chain.
In the mining context, Stokvel’s should consider different value chain products in mining including safety, yellow machines, logistics and compliant services. She went further to advice the audience to start with a component that one is comfortable with, for people to use their skills to get started.
Prudence Ndlovu, an attorney covered the legal aspects of Stokvels, the importance of Constitutions and shareholdership. She suggested that members of Stokvel’ s should register a Stokvel as a company and have a clear and well defined constitution. That will cover topics such as directorship, dispute resolutions, payments defaults, profit sharing mechanism and shareholders agreements.
Just as important is an individual’s personal financial wellness, Karabo Manyama a Business and Personal Financial Planer took the audience through the Buy and Sell agreements.
Elias Shamatla, founder of Marefi Consulting (Pty) Ltd http://www.marefi.co.za presented on debt management. His passion was well demonstrated when he shared some of his experiences on mediating between consumers and their creditors. Marefi Consulting specialise in debt intervention, debt counselling, and business consulting. Some of their services include preventing car repossessions and house auctions by concluding reasonable repayment for their clients.
Indeed one article would not be enough to share the great information shared on the day and all the great lessons learnt from the speakers, but many, many thanks to Gavin for allowing us the opportunity to share our property investing journey, our successes and how we continuing to build wealth through property investing.
This Imbizo was a clear demonstration that there is power in numbers and numbers never lie, it is time that we create wealth through the power of Stokvels.
“Our forefathers started the movement with burial schemes, now we take it to the Boardroom” Gavin Nyiko Mkhabela.
Enjoy a small snippet of the day on video
While property stokvels are hot topics at the moment, they’re hardly a new idea, and you might be asking why you should take an interest? Many have tried before and not always been successful, so why should you consider this particular type of investment club?
South Africa is a country still plagued by massive inequality and one of the best ways to level the economic playing field is to encourage access to land ownership. But how do we go about creating this economic inclusion, you ask, when property is such a huge expense? This is where collective buying power comes in. We truly can do more, together.
Stokvels are traditionally vehicles of consumption. Members make their contributions but the funds are depleted at the end of each year or eaten away by inflation from lying in the bank. To change this, stokvel clubs need a change of mindset: to shift from a consumption mindset to an abundance or wealth-creation mindset. This is crucial for a successful investment stokvel club such as one involved with property management.