Increased GDP this quarter of 2019 – What does it mean for you?

The Gross Domestic Product (GDP) grew by 3.1% which means the economy has grown in the second quarter of 2019. The growth shown was particularly in the Finance and Mining sectors, even although it is a time when about 500 000 jobs were lost.

So what does this growth of the country mean for me as an individual stokvel member?

Mining and Finance grew whereas Construction, Retail and other sectors experienced decreased economic activity. If you as a stokvel member have only been saving in a stokvel with a construction focus (building houses for example), this would have likely impact your stokvel money growth negatively during that period. If however, you belong to more than one stokvel each with a different focus such mining, you would be better positioned against any potential loss because when one industry is down, another is up. This is called Diversification. On the StokFella platform you are able to join and manage more than one stokvel club and so gain the benefits of diversification and thus always being in a “win-win” situation, economically speaking. Signup today on our website or download app.