Stokvel Academy Secures Funding To Digitise Stokvels In South Africa

South Africa’s Stokvel Academy has secured funding from E Squared Investments to scale its mission of transforming stokvels into engines of generational wealth, economic inclusion, and financial literacy.

Founded in 2017 by social entrepreneur Busisiwe Skenjana, the organisation supports stokvel groups (SA’s version of savings groups) through financial education, entrepreneurship training, and governance strengthening, modernising one of South Africa’s most powerful informal financial systems.

The new funding will pilot the Stokvel Agent Accelerator, an 18-month initiative that trains unemployed youth to digitise stokvels and deliver financial literacy at the grassroots level. The pilot will begin in Soweto and the Vaal, recruiting 25 youth agents to digitise more than 3,400 stokvels, support nearly 28,000 members, and reach over 800 people through community workshops.

The initiative aims to professionalise stokvel operations while creating meaningful youth employment, showing how trust, technology, and community networks can drive inclusive economic growth.