OurOur Regulatory Function
The purposes of NASASA are:
1) To uphold and develop the standards of the Stokvel practice in South Africa
2) To improve communication between Stokvels throughout South Africa
3) To represent Stokvels and their interests in the public and private sector
4) To encourage and facilitate the participation of Stokvels in the mainstream economy as well as policy formulation
5) To represent Stokvels in negotiation and collaboration with various strategic stakeholders
6) To ensure the welfare of Stokvel members
7) To support other regulators and authorities to combat abuse of the Stokvel system
8) To cooperate with the financial and non-financial service providers in order to have oversight of Stokvel activities
9) To ensure that the Stokvel space operates in a manner free of systemic risk
The functions performed by NASASA are as follows:
1) A series of monthly mass meetings known as NASASA Stokvel Indabas held in various townships across all provinces in order to share information
2) An annual magazine “SONKE”, which is circulated to Stokvel group members, as well as various interested parties, in order to deliver information
3) Active engagement in development and research through regular Group Home Visits, where our field coordinators interact with our members face-to-face.
4) Participation in the regulatory forums in order to contribute to the development of policy and legislation effecting our constituency
5) Participation in the Social Economy Policy Forum which looks to improving
the social-economic standing of ordinary South Africans.
6) Participation in the Financial Action Task Force Forum with the view of combatting the use of the Stokvel system for nefarious activities such as money laundering and terrorism financing
The National Stokvel Association of South Africa looks to furthering these aims and encouraging the conservation around the participation of Stokvels in the economy. NASASA wishes to form links with organizations that have similar aims and objectives and to engage positively with those who share our views.