It is the desire of every individual to create wealth and have stable incomes so that they are never worried about lacking money in the future. There are quite a number of financial drivers people use to achieve their financial goals, with some being more lucrative, resulting into higher financial rewards than others. But in the endeavor to accumulate money and achieve financial freedom, there are certain investment options which may seem attractive in the beginning, and could work for a few years, only for them to crumble and lead to the loss of investor’s funds.

One classic example of such an “investment plan” is the ponzi schemes. In the beginning, the proponents of such schemes do make them sound so nice and appealing and since the majority is gullible to get-rich-quick-scheme, they join in their numbers, ignorantly thinking they will realize worthwhile returns from the moneys they pump into such schemes.

One of the reasons why ponzi schemes fail at higher rates is because they never have proper checks and balances to ensure the safety of investor’s funds. They usually have glaring vulnerabilities the top management can exploit at will and swindle all the funds and this has always been the case for the schemes that went down with millions of investor’s cash.

Yethu is available on both smart and basic phones. It can be accessed by dialing *134*7720# or going to

To counter such vulnerabilities and the tendency of a few people swindling the hard earned cash of the majority, the investors need to have the power to access and monitor their funds so that they are able to question or tell immediately any discrepancies are noticed. This is the basis of the Yethu mobile application and it is hoped that through it, stockvel investors in South Africa will have more control over their investments, by having a means to access and monitor their funds at all times, through the convenience of their mobile phones.

Stokvels are not a ponzi schemes and there is no denying that they have come to be trusted by millions of South Africans over the years. It is also a fact that it is a major financial disruptor in the country’s economy, if the number of billions it holds in the banks is anything to go by. We will also agree that stokvels have been very instrumental in helping participants overcome stressful financial situations which could have proved very tough were it not for stokvel.

However, there are glaring challenges worth addressing in the Stokvels before it proves to be a disaster in the future. The fact that it has never happened before should not mislead anyone to think that it cannot happen, and stokvels can also go down with investor’s money, but the likelihood of such happening can be reduced substantially if the people have a way of getting assurance that their investments are safe at all times.

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