Gerald Mwandiambira , Award winning CFP® Professional ,Speaker and Author

TheTakeOffInterview| #MoneyMonday| As the Covid-19 pandemic continues to generate uncertainty and anxiety, women are exploring other avenues to generate extra income for their families. Stokvels are a hidden economy where women play a critical role Current estimates from the National Stokvel Association of South Africa (Nasasa) are that there are 810 000 stokvels, with nearly 40% of South Africa’s adult population belonging to a stokvel. Each year, these members collectively contribute an estimated R50 billion to their stokvels Stokvels in South Africa have for decades served communities as this informal market. The historically disadvantaged, majority of whom were low-income earners, found a mechanism to meet their financial needs when the formal financial services industry excluded them   Guest: Gerald Mwandiambira , Award winning CFP® Professional ,Speaker and Author   For professional financial planning and wealth creation and management, visit www.askgerald.co.za   Twitter: @AskGeraldCFP