Stokvel turned property investment group: Meet Mzansi’s Goodfellas

Stokvel turned property investment group: Meet Mzansi’s Goodfellas

- A group of friends in Pretoria started a stokvel for groceries

- They have turned into a property investment club

- They named it Goodfellas Brigade Investment Club

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For a group of friends in Pretoria, what started off as a stokvel to help each other buy groceries for Christmas has turned into a property investment club.

The 10 friends founded the Goodfellas Brigade Investment Club about three years ago, Briefly.co.za gathered.

The club's chairman, Thabo Masemola, told Sowetan Live that their aim was to uplift themselves financially, share ideas, and build cohesion.

Members of the Goodfellas Brigade Investment Club. Source: Sowetan Live

Members of the Goodfellas Brigade Investment Club. Source: Sowetan Live

Remarkably, their first contribution was just R100 each. However, they saw an opportunity for longer-term investment in the property market and quickly scaled up. Thabo explained:

We are now investing with the aim of buying each member a piece of land or a property that would generate income for them in the near future.

The club has identified two pieces of land to start with. Their focus will be on the residential real estate market.

READ ALSO: Woman gets roasted for asking why black people burn stuff to get state's attention

Thabo added that the club's ultimate aim is to leave a legacy for their families and to create an investment culture as opposed to a consumerist one.

They have plans to expand their project to trading on the stock exchange or purchasing company shares.

The group's secretary is Tebello Mokiri, while Mahlatsi Motshwane serves as its treasurer. Members are young and mostly in their 30s.

READ ALSO: EFF leader Julius Malema mulling retirement from politics

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Source: Briefly.co.za

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