The North West Department of Economy and Enterprise Development in partnership with Seven Colours will be hosting the Stokvel Bokone Bophirima Exhibition for the first time in the province. The exhibition is set to ignite interest in the rich heritage of Stokvel in South Africa when it open doors on 20-21 February 2015, at Mmabatho Convention Centre.

The two day event will create a platform for Stokvel organisations, cooperatives, financial institutions, funeral undertakers; wholesalers and other related companies will drive growth, investment and development within the South African Stokvel landscape. It will also highlight the role played by Stokvel clubs and how they can contribute towards increasing share in trade and investment within Bokone Bophirima.

Enterprises across all the districts of the province will also be afforded an opportunity of showcasing their best product during the exhibition which will attract people from as far as Botswana and the other surrounding provinces.

This is the first time in the history of Stokvels in which members will be given access to a variety of avenues and solutions to stay competitive and gain access to opportunities available in government especially on cooperative development

Divided into two sections – the trade and public halls – the expo will provide innovative solutions tailored to the size and scope of operation of all participating stokvel groups, cooperatives, individuals and associations through an open exhibition of various products and brands.

Furthermore, this will encourage networking with other like-minded individuals in a casual and comfortable environment. Admission to the venue will be free of charge, and this will essentially enable many more stokvel organisations and members of the public from the four districts of the North West province the opportunity to visit the exhibition.

‘’Stokvels was initiated as a means of survival in hard times especially amongst black people. According to research conducted by University of Cape Town in 2003, one in every South Africans are members of at least one of 89 000 stokvels. It further estimated that approximately R12 billion is invested through stokvels yearly, therefore as government we want to tap in to expose members to cooperative development initiatives to create jobs through establishment of enterprises within Bokone Bophirima, said MEC Wendy Nelson.

North West is amongst four provinces dominating the stokvel distribution within South Africa hence we felt it’s proper to formalize the sector to contribute in improving the economy of the province, said Nelson.

She said all members belonging to any kind of stokvels within Bokone Bophirima are invited to come and grasp opportunities available and forge strong partnership with other clubs and corporate companies with one common goal of increasing and promoting economic valiability in underserved markets.

-TDN

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