A stokvel that funds education, fights procrastination and invests in community upliftment has earned two Stellenbosch University (SU) lecturers top honours at the 2025 Absa Stokvel Awards.

The award-winning model, conceptualised by Phodisho Kgwale, a lecturer in academic and professional literacies at SU’s Language Centre, and her friend Reginald Kgwedi, a lecturer in the Department of Logistics, proves that collective saving can do more than grow money. It can accelerate research, strengthen accountability and create lasting social impact.

The Absa Stokvel Awards celebrate and recognise stokvels across South Africa, including those that demonstrate strong financial discipline, community impact, innovation, or sustainable group savings habits. The Awards aim to highlight the broader social value of stokvels as institutions of collective empowerment beyond mere savings mechanisms. 

From isolation to collaboration

The pair realised during their studies that working in isolation with similar goals was not serving either of them. “Like many postgraduate researchers, we found ourselves struggling with procrastination and other personal demands that often delay progress,” says Kgwale. “So, we decided to form a collaborative structure that combined collective financial contributions with peer accountability and aimed to create an environment that would enhance commitment, motivation and sustained focus on our research goals.”

Although membership has been limited to registered PhD candidates, this will be extended to include master’s candidates this year. Members make monthly financial contributions into a formally managed investment club account, with funds reserved for research-related expenses.

“These include conference registration fees, travel and accommodation for data collection, annual university registration fees and other costs directly linked to academic research activities,” explains Kgwale.

Academic accountability

More than just a financial solution, the stokvel offers structured academic support. Members meet bi-weekly for “accountability sessions” where they share research progress and benefit from “rigorous yet constructive engagement”. They are also encouraged to outline their planned tasks and objectives to present at the next meeting.

“We have intentionally positioned the stokvel as a vehicle for community engagement and social responsibility. We have partnered with Kayamandi Empowerment, a local non-governmental organisation (NGO), and provide support through basic yet critical tools that enable them to run their organisation more effectively.”

Community upliftment

Beyond material support, the stokvel shares valuable strategic insights and resources, assisting with grant application processes and career guidance to learners who participate in the NGO’s tutoring and mentorship programmes.

The stokvel has its sights set on making a longer-lasting impact. When the duo complete their doctoral studies, they plan to continue their financial contributions so that these funds can be used to set up a bursary.

“This bursary fund will be aimed at academically deserving yet financially disadvantaged students, thereby ensuring that the stokvel’s impact remains sustainable and intergenerational,” says Kgwale. “Plans include a partnership with the Kayamandi Empowerment Centre to support its development initiatives, including training and mentoring programmes, as well as their soup kitchen,” adds Kgwedi.

Stokvels as safe spaces

Their advice to aspiring stokvel members is not to view them as merely financial arrangements, but as holistic support systems. Stokvels must follow clear rules, and transparency and shared values are paramount. By creating a safe space for collaboration and collective responsibility, these stokvels can help transform what is often an isolating academic journey into a shared and empowering experience, says Kgwale.

“We encourage stokvels to move beyond temporary, short-term objectives and intentionally pursue long-term, sustainable goals with lifelong impact, particularly investments in education, which have the power to transform not only individual lives but communities.”