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How to empower a country using informal financial systems: Stokvels, the South African economical saviour
Umeå University, Faculty of Social Sciences, Department of Political Science.
2019 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

This study is a Minor Field Study (MFS), which is a Sida funded scholarship who made this field study possible. With an institutionalist approach, this field study aims to outline the foundational reasons behind peoples’ participation in the South African informal financial stokvel system. In order to do that, interviews have been made trying to identify what roles normative, cultural and economic factors play in peoples’ decisions, why individuals’ find that the stokvel system is a better choice than other systems, and also to explore what individuals experience distinguish the informal and formal economic systems. The study has been conducted in South Africa, in the province KwaZuluNatal, and twenty-five persons has been interviewed in order to get the people perspective. Results show that both normative, cultural and economic factors appear as important, but that the economic factors play the overall biggest role for joining a stokvel. Both the main differences between the formal and informal system, and the reasons why individuals find that the stokvel system is the best system of choice, can be traced back to trust and trust issues.

Place, publisher, year, edition, pages
2019. , p. 45
Keywords [en]
Informal finance, Stokvel, poverty reduction, South Africa
National Category
Political Science
Identifiers
URN: urn:nbn:se:umu:diva-162540OAI: oai:DiVA.org:umu-162540DiVA, id: diva2:1344792
External cooperation
"Who runs the world?" Woman and Informal Finance; Now and then, kontaktpersoner: Unathi Kolanisi, Elise Dermineur
Available from: 2019-08-22 Created: 2019-08-22 Last updated: 2019-08-22Bibliographically approved

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CiteExportLink to record
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