1. Stokfella
What’s this app?
This app is designed to inform its users of financial management techniques, and put the power of savvy financial decision making back in the hands of the user. The app offers a world class mobile solution, allowing the user to organise, manage, communicate, visualise and be more efficient in growing their wealth.
The whizz behind this app
Tshepo Moloi brings a modern twist to the group saving concept of stokvel with his app StokFella. This app is designed to allow members to track their contributions digitally. “After spending eight months in a number of stokvels, and researching them, I realised that most were experiencing problems with their bookkeeping. I thought there must be a better way,” explains Moloi.
“We are not ignorant of the barriers for the older generation in relation to adopting technology, building trust or financial illiteracy,” explains Moloi.
“To tackle all these factors, we realised early on that we have to approach these individuals directly (through face-to-face or direct marketing) and through someone they can trust. Hence we plan to host monthly demonstrations of the solution in communities, which will be conducted by a person in that community (old or not) who is currently using the application in their stokvel.”
What makes it so unique?
The app anticipates and caters for members of the community that are illiterate or do not have access to smartphones. Stokfella has an ‘On behalf’ function that allows a literate member to capture an illiterate member’s information on the app.
Download now from the Apple App Store and Google Play Store