Revisiting old money-saving tips in the modern world
03 September 2020 - 16:30
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Financial freedom has found new meaning in SA’s latest stokvel offering — ImbewuStokVestapp. The app is an innovative way of modernising the home-grown, traditional institution of stokvels to meet the demands of consumers in the digital era. The ImbewuStokVest app offers consumers an opportunity to check the status and progress of their savings at the touch of a button.
Powered byKunene Makopo Risk Solutions (KMRS), Imbewu StokVest is a product that allows clients to accomplish their aspirations by making monthly contributions towards their savings. Clients from 18 years and older get to manage their administration, monthly payments and claims on the app by using online devices such as cellphones or tablets.
The product embodies the spirit and values of ordinary South Africans, providing financial security to boost savings and make them more transparent and convenient for the younger, more technologically savvy generation. New research shows that more South Africans have shifted to online banking during lockdown. There has also been a clear move to using digital platforms in recent months, from purchasing airtime and prepaid electricity, to buying data bundles and transferring money.
There are more than 820,000 stokvels in the country with a combined membership of 11.4-million people, handling more than R4bn a year. As the SA generation becomes younger, more technologically savvy and aspirational, there is a serious need to reimagine how stokvels are run in the country.
“Consumers are always looking for products that are trustworthy and provide transparent solutions for their financial needs,” said KMRS spokesperson Bangi Makopo. “Imbewu StokVest provides the security of knowing that the future is accounted for without tying yourself to societies,” said Makopo.
The product offering is the solution to many financial anxieties with benefits specially crafted for individual or group savers. The platform provides the consumer with a front-row seat to their money as they see it grow.
After 24 months each member gets to receive a payout calculated according to a specific plan. This is the same principle of any stokvel, but the advantage of ImbewuStokVest is that clients have full control of their earnings through the year as there is no middle man. The offering also comes with an added value of a funeral cover that allows clients to open it up to extended family.
There are three options towards the contribution that consumers are able to choose from:
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Reap what you sow with the Imbewu StockVest app
Revisiting old money-saving tips in the modern world
Financial freedom has found new meaning in SA’s latest stokvel offering — Imbewu StokVest app. The app is an innovative way of modernising the home-grown, traditional institution of stokvels to meet the demands of consumers in the digital era. The Imbewu StokVest app offers consumers an opportunity to check the status and progress of their savings at the touch of a button.
Powered by Kunene Makopo Risk Solutions (KMRS), Imbewu StokVest is a product that allows clients to accomplish their aspirations by making monthly contributions towards their savings. Clients from 18 years and older get to manage their administration, monthly payments and claims on the app by using online devices such as cellphones or tablets.
The product embodies the spirit and values of ordinary South Africans, providing financial security to boost savings and make them more transparent and convenient for the younger, more technologically savvy generation. New research shows that more South Africans have shifted to online banking during lockdown. There has also been a clear move to using digital platforms in recent months, from purchasing airtime and prepaid electricity, to buying data bundles and transferring money.
There are more than 820,000 stokvels in the country with a combined membership of 11.4-million people, handling more than R4bn a year. As the SA generation becomes younger, more technologically savvy and aspirational, there is a serious need to reimagine how stokvels are run in the country.
“Consumers are always looking for products that are trustworthy and provide transparent solutions for their financial needs,” said KMRS spokesperson Bangi Makopo. “Imbewu StokVest provides the security of knowing that the future is accounted for without tying yourself to societies,” said Makopo.
The product offering is the solution to many financial anxieties with benefits specially crafted for individual or group savers. The platform provides the consumer with a front-row seat to their money as they see it grow.
After 24 months each member gets to receive a payout calculated according to a specific plan. This is the same principle of any stokvel, but the advantage of Imbewu StokVest is that clients have full control of their earnings through the year as there is no middle man. The offering also comes with an added value of a funeral cover that allows clients to open it up to extended family.
There are three options towards the contribution that consumers are able to choose from:
Plan A: R185 with yearly payout of R1,080
Plan B: R550 with yearly payout of R4,560
Plan C: R1,250 with yearly payout of R11,430
How Imbewu StokVest works:
Step 1: Get the app here;
Step 2: Sign up on the app;
Step 3: Add your details; and then
Step 4: Choose a plan that works for you.
Member benefits:
Added-value product:
For more information visit the Kunene Makopo Risk Solutions website and follow financial conversations on Facebook and Twitter.
This article was paid for by Kunene Makopo Risk Solutions.
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