Technology is rapidly advancing and while South Africa is not currently a fore-runner, it could soon be, thanks to the potential of South Africans and their innovative thinking. One such innovator is Tshepo Moloi, the man behind the ingenious StokFella app.
Tshepo, 33-year-old married father of a little girl, saw an opportunity and grabbed it. He saw that stokvel users need a way to get through the headache that is paperwork and thought of a way to address it.
2 years ago Tshepo developed a smartphone app that changes the way stokvels are run. The app was given the very apt name of StokFella and helps out with things like payment management, investments and savings as well as group activities.
I came up with the app in 2016 after my own experiences and an unsuccessful journey as part of the stokvel culture. I then visited my parents and family's stokvel meetings, observing how they operate.
And the rest, as they say, is history.
Tshepo learned the inner workings of stokvels and built his app around that.
In a nutshell, the StokFella app is meant to solve the administrative headache of communicating with members. It makes it simple, easy and quick to access all the information stokvel members need from bank statements, balances to member contributions.
StokFella is meant to help users who have an idea of what they want but lack the proper knowledge.
Tshepo has Masters degrees in engineering and finance and his knowledge helped create an app that minimises the risk when investing.
This is fantastic as most StokFella users are elderly members of society. Currently, 9000 people use StokFella.
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