Capitec Bank is shaking things up in South Africa by embracing stokvels, which are community savings groups where people pool their money to achieve shared financial goals. These groups have deep cultural roots and provide a lifeline, especially for those facing tough times. By partnering with stokvels, Capitec aims to enhance trust and security, helping members save for things like property or funeral costs. This exciting move not only supports traditional saving practices but also opens the door for more financial growth and education in local communities.
