In South Africa, saving income is mostly not a tip priority – in fact, a nation has one of a misfortune assets rates in a world. But it is also home to a sold form of saver groups called “stockvels”.
Traditionally, stockvels have been tiny groups of people pooling money for a specific purpose – anything from groceries to wake expenses. But as these groups have turn a bit some-more financially savvy, they are saving around $4bn (£3.2bn) a year and a banks are holding some-more of an seductiveness in them.
The BBC’s Vumani Mkhize has some-more for Africa Business Report.