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AUGUST 2002
STOKVELS IN SOUTH AFRICA
Claimed Membership of Stokvels & Burial Society – Total
Population
12%
28%
0%
5%
10%
15%
20%
25%
30%
Stokvel Burial Society
3,56 m
8,08 m
LSMLSM
Claimed Membership of Stokvels by LSM
79
11 10
1716
1412
15
3
79
11 10
1716
1412
15
3
Source: Marketscape 2002
%
9 10
46k
269k 472k
432k 737k 697k 331k 208k 274k 60k
%
No of Stokvels Belong to - by LSM
100%
0%
84%
16%
82%
18%
80%
20%
82%
18%
84%
16%
89%
11%
73%
27%
92%
8%
84%
16%
Belong To One Group Belong To More Than One Group
100%
0%
84%
16%
82%
18%
80%
20%
82%
18%
84%
16%
89%
11%
73%
27%
92%
8%
84%
16%
Belong To One Group Belong To More Than One Group
Source: Marketscape 2002
%
9 10
46k
269k 472k
432k 737k 697k 331k 208k 274k 60k
Based on those that claim to be members of stokvels
Average Monthly Investment into Stokvel by LSM
R 63 R 75 R 48R 78 R 98
R 142R 197
R 161
R 315
R 508
R 63 R 75 R 48R 78 R 98
R 142R 197
R 161
R 315
R 508
Source: Marketscape 2002
9 10R770
R879 R1,104
R1,534
R2,195
R3,575
R5,504
R7,427
R10,561
R21,591
Total Estimated Amount Invested in Stokvels Annually - R5,61 Billion
Average Monthly HH Income
8% 9% 4% 5% 4%
4%4% 2%
3%
2%
As a % of total monthly income
Personal Banking by Stokvel Members
No Personal Bank Account
41%
Have a Personal Bank Account
59%
Have a Personal Bank Account (Based on those that are members
of a Stokvel)
32%
68%
27%
73%
47%
53%
60%
40%
45%
55%
73%
27%
72%
28%
54%
46%
91%
9%
83%
17%
LSM 1 LSM 2 LSM 3 LSM 4 LSM 5 LSM 6 LSM 7 LSM 8 LSM 9 LSM 10
Have Bank Account No Bank Account
9 10
Share of Money - Total Stokvel Investments by
LSM
LSM 11%
LSM 24%
LSM 35% LSM 4
7%
LSM 515%
LSM 622%
LSM 714%
LSM 87%
LSM 918%
LSM 107%
Claimed Membership of Burial Societies by LSM
17%12%
21%
27%
34% 34% 35%33%
36%
27%
17%12%
21%
27%
34% 34% 35%33%
36%
27%
Source: Marketscape 2002
%
9 10
46k
269k 472k
432k 737k 697k 331k 208k 274k 60k
%
No of Burial Societies Belong to - by LSM
100%
0%
94%
6%
86%
14%
90%
10%
88%
12%
88%
12%
84%
16%
76%
24%
88%
12%
95%
5%
Belong To One Group Belong To More Than One Group
100%
0%
94%
6%
86%
14%
90%
10%
88%
12%
88%
12%
84%
16%
76%
24%
88%
12%
95%
5%
Belong To One Group Belong To More Than One Group
Source: Marketscape 2002
%
9 10
46k
269k 472k
432k 737k 697k 331k 208k 274k 60k
Based on those that claim to be members of stokvels
Average Monthly Investment into Burial Societies by LSM
R 58 R 63R 55
R 49
R 64 R 68R 75
R 68
R 85 R 87
R 58 R 63R 55
R 49
R 64 R 68R 75
R 68
R 85 R 87
Source: Marketscape 2002
9 10R770
R879 R1,104
R1,534
R2,195
R3,575
R5,504
R7,427
R10,561
R21,591
Total Estimated Amount Invested into Burial Socities Annually
- R6,42 Billion
Average Monthly HH Income
7% 7%5%
3%
3% 2%
1%1%
1%
0.4%
As a % of total monthly income
Personal Banking by Burial Society Members
No Personal Bank Account
45%
Have a Personal Bank Account
55%
Have a Personal Bank Account (Based on those that are members
of a Burial Society)
14%
86%
35%
65%
29%
71%
50%
50%
42%
58%
57%
43%
66%
34%
62%
38%
90%
10%
94%
6%
LSM 1 LSM 2 LSM 3 LSM 4 LSM 5 LSM 6 LSM 7 LSM 8 LSM 9 LSM 10
Have Bank Account No Bank Account
9 10
Share of Money - Total Burial Society Investments
by LSM
LSM 11%
LSM 25% LSM 3
9%
LSM 411%
LSM 518%
LSM 618%
LSM 712%
LSM 87%
LSM 911%
LSM 108%
THE UNBANKED SEGMENTS
THE UNBANKED SEGMENTS
Claimed Membership of Stokvels by the Unbanked Segments
14%
3%
13%
6%
10%
Student Scholar Pensioner The Working Not Working
48 k 69 k 138 k 186 k 194 k
%
Source: AMPS 2001
Average Monthly Investment into Stokvel by Unbanked Segments
R 55 R 52 R 57
R 103 R 108
Student Scholar Pensioner The Working Not Working
R 55 R 52 R 57
R 103 R 108
Student Scholar Pensioner The Working Not Working
Source: Marketscape 2002
Total Estimated Amount Invested in Stokvels Annually by the Unbanked
Sector - R1,36 Billion
Claimed Membership of Burial Societies by the Unbanked Segments
14%
6%
37%
23%
32%
Student Scholar Pensioner The Working Not Working
48 k 158 k 404 k 757 k 595 k
%
Source: AMPS 2001
Average Monthly Investment into Burial Societies by Unbanked
Segments
R 43
R 60R 55 R 57 R 57
Student Scholar Pensioner The Working Not Working
R 43
R 60R 55 R 57 R 57
Student Scholar Pensioner The Working Not Working
Source: Marketscape 2002
Total Estimated Amount Invested into Burial Societies Annually by the
Unbanked Sector - R2,6 Billion
PROFILE OF THE STOKVEL MEMBER
DEMOGRAPHICSDEMOGRAPHICS
Population Group OF Stokvel Member
94
2 1 3
0
20
40
60
80
100
Black Coloured Indian White
Source: AMPS 2001
Gender
Female57%
Male43%
Source: AMPS 2001
Age
12
27
37
17
6
16-24 25-34 35-49 50-64 65+
420 k 969 k 1,3 m 605 k 229 k
%
Source: AMPS 2001
Highest Level of Education
No School3%
Primary Complete
22%
Matric19%
University 3%
Technikon Diploma
3%
Some Primary
22%
Some High38%
Source: AMPS 2001
Province
28
22
16
14
7
7
3
2
2
Gauteng
KZN
North West
Northern Province
Mpumalanga
Free State
Western Cape
Northern Cape
Eastern Cape
%
Source: AMPS 2001
HOMEHOME
Ownership of Dwelling
74%
5%
13%
5%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Own Tribal Land Rented Just live here
Type of Dwelling
33%
28%
21%
7%5%
2%
0%
5%
10%
15%
20%
25%
30%
35%
TownshipMatchbox/RDP
Shack/InformalDwelling
Suburban House Traditional AfricanHut/Homestea
Flat Townhouse
Area
CBD2%
Rural Area20%
Informal Settlment
20%
Suburb13%
Township45%
MINDSET & LIFESTYLEMINDSET & LIFESTYLE
Communication Segment
7
15
46
2
24
13 2
0
10
20
30
40
50
%
CS1 CS2 CS3 CS4 CS5 CS6 CS7 CS8
Source: Marketscape 2002
STILL DISADVANTAGED 33%
OLD SOUTH
AFRICA 13%
EMERGED 11%
NEW SOUTH AFRICA 12%
EMERGING 31%
Mindsets 2002
N O J OB
Still Disadvantaged
22%
Emerging45%
Emerged24%
New South Africa3%
Old South Africa6%
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