The value of the stokvel market would create a bigger sector in South Africa than the agriculture or electricity sectors,” said Mamapudi Nkgadima, managing director of African Response, in a statement.
A nationwide survey by research company African Response found there are 11.4 million stokvel members in South Africa.
“To put this in perspective, the population of a city made up of all the stokvel members would be larger than any of our major metros, including Johannesburg, Pretoria, Cape Town and Durban,” said Nkgadima.
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