2 December 2024
The inaugural Absa Stokvel Awards, held in Johannesburg, celebrated the remarkable contributions of stokvels to their communities and the economy. With a collective prize of R1 million, this prestigious event recognised outstanding achievements across various categories – shining a light on the power of collective savings and community support.
Tawanda Rumhuma, Executive of Savings & Investments at Absa Everyday Banking, reflected on the significance of stokvels in South African culture. “Stokvels are not merely financial mechanisms; they embody a revered tradition that connects us all. Today, we celebrate not only the winners but also the spirit of unity and resilience demonstrated by stokvels across the nation,” he said.
The winners of the inaugural Absa Stokvel Awards are as follows:
- Best Community Impact Award: Ntuthuko Investment Club – This stokvel has made significant strides in uplifting their community through impactful social projects and donations. Absa’s Citizenship office has committed to matching the winnings in a donation to a charity of the winner’s choice.
- Most Innovative Investment Stokvel: Friends in Hand Club – Recognised for their pioneering approach in investments and innovative initiatives, setting a benchmark for others to follow.
- Best Stokvel in Financial Literacy and Leadership: Janriches Savings Club – This group exemplified excellent governance practices while providing essential financial education to their members. They have doubled their prize money to R100 000 as an incentive for being existing Stokvel members of the Absa Investment Club.
- Best Travel Club Award: Happy Queens – A stokvel that has successfully enhanced travel accessibility, enabling members to explore and experience more.
- Best Stokvel Enablers: Vuka Darkie Manufacturing Stokvel – Recognised for their positive contributions and support to the stokvel community, this individual/organisation has made a significant difference.
- Best Digitally Empowered Stokvel: Rifumo Social Savings Stokvel – Acknowledged for effectively leveraging technology to streamline operations and enhance member engagement.
- Most Unique Stokvel Award: 1 Family 1 Stockpile – This stokvel has demonstrated innovative saving and investing approaches towards unique goals.
- Lifetime Stokvel Achiever Award: Zone 4 Homeowners Burial Association – Celebrated for its longevity and sustainable practices, this stokvel has shown outstanding growth over the years.
- Stokvel of the Year: Women Navigating the Future Network Stokvel – This stokvel emerged as the overall winner, showcasing exceptional success and impact during the year.
The awards ceremony marked a significant milestone in recognising the vital role stokvels play in South Africa’s financial landscape. Categories were designed to highlight diverse achievements, fostering a sense of pride and community among participants.
“This initiative is more than just an awards ceremony; it is a celebration of our collective strength,” said Rumhuma. “The stories shared tonight remind us of the power of unity and the importance of supporting one another in our financial journeys.”
By rewarding these remarkable stokvels, Absa aims to inspire a new generation to engage in this beautiful tradition of saving. The event concluded with a call to South Africans to come together, uplift one another, and continue contributing positively to their communities.
Let us celebrate each other’s achievements as we work towards a brighter and more inclusive economic future for all.
