STOKVEL NEWS
B U L C T N E M T S E V IN L E V K PROPERTYmSmTunO vest in property in rs be em m g in lp he ities and Uplifting black co
“T
here’s no freedom without financial freedom and ownership of land and property, which is why the majority of black communities are still suffering the effects of apartheid.” So says Nicolas Manyike, the founder and CEO of Tale PR & Communications, who is also a property investor, a serial entrepreneur and now founder and chairperson of the Property Stokvel Investment Club, the new stokvel investment group which aims to uplift black communities by helping its members to invest in property.
close to working areas and educational institutions,” he adds. The long-term plan for the Property Stokvel Investment Club is to invest and diversify the initiative to also focus on agriculture, logistics and other profitable industries.
How to join the Property Stokvel Investment Club? New members are required to make a once-off payment of R250. An application form together with proof of payment should be sent to infopropertystokvel@gmail.com.
Born and raised in Mkhuhlu, Bushbuckridge, in Mpumalanga, Manyike comes from humble beginnings, which Is the payment refundable? shaped him into what he stands for today. The first fee payment is non-refundable. “The stokvel economy in South Africa is estimated to be worth R49-billion, What happens after you have made and property is one of the largest payment? asset classes in the world. Investing in property may be the best way to take Should your application be accepted, advantage of what is widely considered you will receive an approval letter to be one of the most reliable and together with the Stokvel Constitution. profitable investment vehicles. Property is known to appreciate in value over The Property Stokvel Investment time,” says Manyike. Club has two phases. Stokvels have been around for decades and most of them are sustainable. Most stokvels are created to buy groceries, especially for the festive season. Manyike believes that the same method could be used to purchase properties. “Our aim is to accumulate R4- to R8million to purchase a property that will generate an income for us. As soon as we buy our first property, we are going to implement phase two, where the focus will be on buying houses for our members,” he says. This initiative is open to everyone who aspires to have financial freedom and create wealth through property. “The property stokvel is true radical economic transformation. We want to create wealth that will allow us to retire comfortably at an early age, but most importantly, to create a legacy for the next generation. We want to buy land and properties in places where there is competitive rental income which is
contribution for all of your missed months. If you fail to catch up on your contributions after the three month period, you will be refunded 30% of your initial contribution and 70% will remain with the stokvel.
How long should members contribute? Members are required to contribute for two years. For more information or to become a member contact the Property Stokvel Investment Club directly on 071 234 6701. Alternatively, you can connect with Nicolas Manyike through social media. Search Manyike Nicolas on Facebook or Twitter or Instagram @ManyikeNicolas.
Phase 1 is a pool account where members contribute R2100 monthly. There is a monthly deduction of R100 from this amount for administration and maintenance such as office costs and legal fees when purchasing franchises, properties and land. As soon as phase 1 members reach the targeted goal, a property/franchise will be purchased to generate a stable source of income. The profit that will be generated from this asset will be shared equally amongst the members annually. Phase 2 is where members of the Property Stokvel Investment Club will purchase individual properties. This will be implemented as soon as the phase 1 goal is reached.
What happens when one loses a job? You will be given three months to sort out your finances. After this period, you will be required to pay your monthly
Nicolas Manyike, founder of the Property Stockvel Investment Group
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