RMB Solutionist Thinking
702-rmb-solutionists-podcasts-700x300-feature-header-tsepho-moloijpg

Solutionist Thinking: In Conversation with Tshepo Moloi

Solutionist Thinking with RMB is a thirteen-episode podcast series hosted by Bruce Whitfield focusing on the great South African minds who are thinking differently and going against the norm. In the tenth episode, Whitfield speaks with StokFella founder Tshepo Moloi.

Tshepo Moloi is a Soweto-born entrepreneur in the process of turning a 200-year-old industry on its head – by bringing stokvels into the 21st century.

The ethos of stokvels has stayed with us since the 19th century, and I don’t think it’s going anywhere anytime soon.

Tshepo Moloi, Founder of StokFella

It’s estimated that over 800 000 stokvels operate in South Africa at any given time. Approximately 80% of South Africans from all walks of life participate in stokvels, says Whitfield, and it is an industry that sees an estimated R40-billion to R49-billion per year flow through.

It’s a far cry from the stereotypical image of coffee cans on top of the fridge and money under the mattress. Stokvels have become a complex savings vehicle with massive administrative responsibilities for many, something that Moloi experienced first-hand as he tried to set up his own Stokvel with work colleagues – one that “died a very painful death”.

How have I not succeeded where my mother, my grandmother have succeeded?

Tshepo Moloi, Founder of StokFella

As an executive of the stokvel, Moloi was responsible for chasing members for contributions and pulling the latest numbers on the fund when requested – something that was very difficult with a full-time job.

My own mother’s facing the same challenges – the only difference between me and her is that she’s persistent.

Tshepo Moloi, Founder of StokFella

And so, with personal experience of the frustrations faced by Stokvel members, and a desire to provide a solution, StokFella was born.

Let us, one, take the pressure off the executive… Two, let us – you as the member – include you in the transparency.

Tshepo Moloi, Founder of StokFella

This has come with its challenges – in between ensuring that StokFella is fully regulated, and convincing people to choose the app over a more traditional Stokvel structure.

The stokvel is a trust game.

Tshepo Moloi, Founder of StokFella

Take a listen to this episode of Solutionist Thinking with RMB, as Moloi and Whitfield discuss the challenges of the system, gaining trust – and Whitfield gets a job offer.


Recommended

by NEWSROOM AI
Read More
Ermos Nicolaou: Solving problems in babies, even before they are born

Ermos Nicolaou: Solving problems in babies, even before they are born

Quite the unusual Solutionist Thinker, Professor Ermos Nicolaou solves problems that occur before babies are even born.

SA's digital footprint traces back to pioneer, Jason Xenopoulos

SA's digital footprint traces back to pioneer, Jason Xenopoulos

As one of the founding fathers of internet businesses in South Africa, Jason Xenopoulos’ digital rap sheet is longer than most.

Like her wines, this winemaker has flourished in some tough conditions

Like her wines, this winemaker has flourished in some tough conditions

When the story of the winemaker can add as much to wine, as the origin of the grape.

To this solutionist thinker, all-access means success

To this solutionist thinker, all-access means success

William Mapham pioneered Vula Mobile, the app that links healthcare workers with on-call medical and surgical specialists.

Meet the technologist disrupting the freight industry

Meet the technologist disrupting the freight industry

Meet Benji Coetzee, a tech disruptor transforming the face of the male-dominated freight transport industry.

There's a medal haul coming in Tokyo, if this coach has anything to do with it

There's a medal haul coming in Tokyo, if this coach has anything to do with it

Rowing coach Roger Barrow shares his love for winning - especially against better-resourced teams.

Popular articles
3 best JSE shares to buy, right now (by The Robert Group)

3 best JSE shares to buy, right now (by The Robert Group)

Devin Shutte (Head of Investments at The Robert Group) shares his stock picks of the week with Bruce Whitfield on The Money Show.

How Gavin Watson's Bosasa - born from ANC Women’s League – captured the State

How Gavin Watson's Bosasa - born from ANC Women’s League – captured the State

Bruce Whitfield interviews News24 Editor Adriaan Basson, author of "Blessed by Bosasa - Inside Gavin Watson's State Capture Cult".

'New Eskom CEO doesn't have Eskom or energy experience'

'New Eskom CEO doesn't have Eskom or energy experience'

Energy expert Ted Blom says Andre de Ruyter has been appointed to execute the mandate of the government and unbundle Eskom.

[WATCH] SABC reporter heading for danger during looting goes viral

[WATCH] SABC reporter heading for danger during looting goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Dad comes up with genius 'trick' to get newborn baby to feed

[WATCH] Dad comes up with genius 'trick' to get newborn baby to feed

Khabazela shares tweets and Facebook posts that have gone viral.

How to buy your first share (even if you only have R50, or less)

How to buy your first share (even if you only have R50, or less)

Got R50? No? Got R5? Personal finance expert Warren Ingram on how to buy shares with tiny amounts of money.

13 tips for saving hundreds (nay, thousands!) of rands each month

13 tips for saving hundreds (nay, thousands!) of rands each month

The economy is toast. Personal finance expert Warren Ingram shares 13 highly effective tips for making ends meet.