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Essays on second-generation stokvels : their essential role in promoting financial inclusion in South Africa
Thesis (PhD)--Stellenbosch University, 2024.
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Stellenbosch : Stellenbosch University
2025
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| _version_ | 1867613983627804672 |
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| access_status_str | Open Access |
| author | Mololope Mabitje-Thompson, Malebo Sophy-Anne |
| author2 | Marwa, Nyankomo |
| author_browse | Marwa, Nyankomo Mololope Mabitje-Thompson, Malebo Sophy-Anne |
| author_facet | Marwa, Nyankomo Mololope Mabitje-Thompson, Malebo Sophy-Anne |
| author_sort | Mololope Mabitje-Thompson, Malebo Sophy-Anne |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description |
Thesis (PhD)--Stellenbosch University, 2024. |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/131842 |
| institution | Stellenbosch University (South Africa) |
| last_indexed | 2026-06-10T12:44:49.127Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2025 |
| publishDateRange | 2025 |
| publishDateSort | 2025 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/131842 Essays on second-generation stokvels : their essential role in promoting financial inclusion in South Africa Mololope Mabitje-Thompson, Malebo Sophy-Anne Marwa, Nyankomo Lensink, Robert Barclay, Lize Stellenbosch University. Faculty of Economic and Management Sciences. University of Stellenbosch Business School. Rotating credit associations -- Economic aspects -- South Africa Cooperative societies -- South Africa Banks and banking, Cooperative -- South Africa Fraternal organizations -- South Africa UCTD Thesis (PhD)--Stellenbosch University, 2024. ENGLISH SUMMARY: Stokvels are informal institutions where members pool their savings through periodic contributions; the pooled savings are distributed to members at a time and under mutually agreed-upon circumstances. They are an important source of informal financial services and a shield against exploitative practices for those excluded or underserved in formal financial services. However, their current operating model is heavily biased towards consumption activities and characterised by specialised and disparate product offerings, limiting members’ ability to exploit the total of their pooled savings to maximise their welfare. The study seeks to investigate the possibility of integrating different financial products into a consolidated offering, including savings, credit, insurance and investment for stokvel members. Literature has established that these products have positive linkages to welfare improvement and are important for alleviating poverty, improving the welfare of individuals and, therefore, structural transformation in developing countries. However, there is a dearth of literature on how traditional stokvels could be nudged to enhance their operations in this regard. To this end, the study has three objectives attended to in three distinct and interrelated papers. The first objective is to assess the evolution of stokvels in South Africa and the factors that have influenced their development. The first paper presents a scientific analysis of the development of stokvels and their various typologies. The assessment is done by reviewing the literature on stokvels and highlighting potential products and institutional gaps. Due to the rarity of such analysis, this work adds to the scant literature on potential product or institutional gaps related to stokvels. Given the growing literature focusing on gender dynamics in stokvel participation, the second paper empirically investigates the potential existence of the gender gap in the stokvel industry and its correlates. The Global Financial Inclusion database of 2014 shows that women make up 55% or 1.1 billion of the world’s unbanked population (Demirgüç-Kunt et al., 2015). This highlights the fact that the gender gap in financial inclusion could persist in varying degrees across different segments of the population and different contexts. The dearth of empirical literature on whether such a gap extends to the usage of informal financial services, particularly in stokvels, creates an opportunity for further investigation. This paper offers an innovative methodological approach to analysing the financial inclusion gender gap. It extends existing literature, which has focused on the binary classification of either being financially included or not, by introducing ordinal categorisation that brings more nuance and insights, using 2020 data from the Old Mutual Savings Investment Survey. From a policy and practical perspective, the insights generated from this research could provide opportunities and guidance on how such institutions can be used to overcome exclusion challenges. The third objective of the study is to propose a conceptual framework towards a next-generation stokvel that integrates different financial products into a consolidated offering, including savings, credit, insurance and investment for stokvel members. This is in line with Walsham (1995), who posits that the output of research and its contribution to knowledge can take the form of concepts, a conceptual framework and propositions or mid-range theory. The contribution of this research to knowledge is in the form of a conceptual framework to further analysis or discourse on stokvels as an instrument for financial inclusion. AFRIKAANSE OPSOMMING: Stokvels is informele instellings waar lede ‘n deurlopende kapitaalpoel vorm deur periodieke besparings wat op ‘n vooraf ooreengekome tyd en omstandighede met al die lede gedeel word. As sodanig is dit 'n belangrike bron van informele finansiele dienste en ‘n beskermende skild teen uitbuitende praktyke vir die wat uitgesluit of onderbedien word deur formele finansiele dienste. Die huidige bedryfsmodel verleen egter sterk voorkeur aan verbruikersaktiwiteite. Dit word ook gekenmerk deur gespesialiseerde en uiteenlopende produkaanbiedings, wat lede se vermoe beperk om die totaal van hul besparings te ontgin en welvaart te maksimeer. Hierdie studie poog om die moontlikheid te ondersoek of verskeie finansiële produkte as ‘n gekonsolideerde pakket aangebied kan word wat spaar, krediet, versekering en beleggings moontlikhede vir stokvel-lede sal inhou. Die literatuur bevind dat hierdie produkte ‘n positiewe verband het met welvaartsverbetering en belangrik is vir die verligting van armoede, die verbetering van persoonlike welvaart en dus die strukturele transformasie in ontwikkelende lande. Daar is egter 'n gebrek aan literatuur oor hoe die tradisionele stokvel aangepor kan word om sake bedrywighede in hierdie verband te verbeter. Met dit as oogmerk het hierdie studie drie doelwitte wat in drie verskillende en verwante artikels aandag kry. Die eerste doelwit is om die evolusie van stokvels in Suid-Afrika en die faktore wat hul ontwikkeling beïnvloed het, te evalueer. Die proefskrif bied 'n wetenskaplike ontleding van die ontwikkeling van stokvels en hul verskeie tipologiee. Die evaluering word gedoen deur die literatuur oor stokvels te hersien en potensiele produkte en institusionele gapings uit te lig. As gevolg van die skaarsheid van sulke analise dra hierdie werk by tot die beperkte literatuur oor potensiele produkte of institusionele gapings wat met stokvels verband hou. Gegewe die groeiende literatuur wat fokus op geslagsdinamika in stokvel deelname, ondersoek die tweede artikel empiries die moontlike bestaan van die geslagsgaping in die stokvel en soortgelyke bedrywe. Die Globale Finansiele Insluitingsdatabasis van 2014 toon aan dat vroue 55% of 1.1 miljard van die wereld se ongebankte bevolking uitmaak (Demirguç-Kunt, Klapper, Singer & Van Oudheusden, 2015). Dit beklemtoon die feit dat die geslagsgaping in finansiele insluiting in verskillende grade mag voortduur in verskeie segmente van die bevolking en in verskeie kontekste. Die gebrek aan empiriese literatuur of hierdie gaping ook in die gebruik van informele finansiele dienste voorkom, veral in stokvels, skep 'n geleentheid vir verdere ondersoek. Hierdie proefskrif bied 'n innoverende metodologiese benadering om die geslagsgaping in finansiele insluiting te ontleed. Deur gebruik te maak van die data uit die Old Mutual Savings Investment Survey van 2020, brei die proefskrif die bestaande literatuur uit wat fokus op die binere klassifikasie van of finansieel ingesluit te wees óf nie, deur 'n ordinale kategorisering te gebruik wat meer nuansering en insigte bring. Vanuit 'n beleids- en praktiese perspektief kan die insigte wat uit hierdie navorsing voortspruit, geleenthede en leiding bied oor hoe sulke instellings gebruik kan word om uitdagings van geslagsuitsluiting te oorkom. Die derde doelwit van die studie is om 'n konseptuele raamwerk voor te stel vir 'n volgende-generasie stokvel wat verskeie finansiele produkte in 'n gekonsolideerde aanbieding integreer, insluitend spaar, krediet, versekering en beleggingsmoontlikhede vir stokvel-lede. Dit is in ooreenstemming met Walsham (1995), wat voorstel dat die produk van navorsing, en die se bydrae tot kennis die vorm van konsepte, 'n konseptuele raamwerk, en proposisies of middelafstand-teorie kan aanneem. Die bydrae van hierdie navorsing tot kennis is in die vorm van 'n konseptuele raamwerk om verdere analise of diskoers oor stokvels as 'n instrument vir finansiele insluiting te bevorder. Doctoral 2025-04-02T12:51:00Z 2025-04-02T12:51:00Z 2024-12 Thesis https://scholar.sun.ac.za/handle/10019.1/131842 Stellenbosch University xvi, 150 pages : illustrations, includes annexures application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Rotating credit associations -- Economic aspects -- South Africa Cooperative societies -- South Africa Banks and banking, Cooperative -- South Africa Fraternal organizations -- South Africa UCTD Mololope Mabitje-Thompson, Malebo Sophy-Anne Essays on second-generation stokvels : their essential role in promoting financial inclusion in South Africa |
| title | Essays on second-generation stokvels : their essential role in promoting financial inclusion in South Africa |
| title_full | Essays on second-generation stokvels : their essential role in promoting financial inclusion in South Africa |
| title_fullStr | Essays on second-generation stokvels : their essential role in promoting financial inclusion in South Africa |
| title_full_unstemmed | Essays on second-generation stokvels : their essential role in promoting financial inclusion in South Africa |
| title_short | Essays on second-generation stokvels : their essential role in promoting financial inclusion in South Africa |
| title_sort | essays on second generation stokvels their essential role in promoting financial inclusion in south africa |
| topic | Rotating credit associations -- Economic aspects -- South Africa Cooperative societies -- South Africa Banks and banking, Cooperative -- South Africa Fraternal organizations -- South Africa UCTD |
| url | https://scholar.sun.ac.za/handle/10019.1/131842 |
| work_keys_str_mv | AT mololopemabitjethompsonmalebosophyanne essaysonsecondgenerationstokvelstheiressentialroleinpromotingfinancialinclusioninsouthafrica |