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1. Funds are not always available when needed, since the member must wait for their turn (Some stokvels allow negotiation to swap payout times).
2. There is less recourse to fair treatment if the scheme is abused by fraud or negligence.
3. Payments from members are not always guaranteed. Death (Eg: of AIDS) and loss of employment in a recession can eliminate a member's ability to keep their commitments.
4. Depending on the sophistication of the stokvel, numbers of members may be fixed, as may be contribution amounts and payout amounts. Unlike a formal (bank) saving scheme, members cannot usually contribute slightly more or less, according to their personal circumstances.
5. Different types of stokvels cannot easily transfer funds (Eg: monthly stokvel to Christmas stokvel to burial stockvel).
What else can I help you with?
When was South African Airways created?
South African Airways was established on 1 February 1934, when the South African government took over the assets and liabilities of Union Airways.
Which is the South African richest bank?
Standard bank of south africa
What is the population of South African Breweries?
The population of South African Breweries is 9,400.
Is nandos a south African company?
Yes, Nandos is a South African country. However, it is in a Portuguese/Mexican theme. (From a South African who moved to the UK)
What is the South African stock exchange called?
What is the south African stock exchange called
What are the advantages and disadvantages of the east african union?
advantages and disadvantages of african union
How does stokvel work?
A stokvel is a savings club where a group of individuals contribute money regularly into a pool, which is then rotated amongst members. Each member receives a lump sum from the pool on a rotational basis. Stokvels are generally used to save for specific events or goals, such as weddings or school fees.
How did the south attempt to comensate for its disadvantages?
The south
South African A-Z?
south African histroy was cool
When was South African African Rugby Board created?
South African African Rugby Board was created in 1935.
What are the advantages and disadvantages of the African traditional marriage?
Nxjxjx
When was South African Airways created?
South African Airways was established on 1 February 1934, when the South African government took over the assets and liabilities of Union Airways.
How many countries speak South African?
There is no such language as "South African".
What did most Progressives pay little attention to regarding African Americans?
Conditions for African Americans in the south.
How do stokvels help people save money?
How does stokvel help people survive
Does South African law apply to South African ships anywhere?
Yes, it does.
When was South African rand created?
South African rand was created in 1961.
