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lexandra might be stereotyped as a charity case where residents sit on the side of the road holding out begging bowls. But little do people know that there are millionaires residing in this historic townships. There is even a road in the Eastbank section that has been nicknamed “Millionaires’ Street” as most of its residents are well-to-do, leading lavish lifestyles and driving expensive cars – like the female members of Alex’s richest stokvel. Their lives have never been the same since they started their stokvel: Ratanang Women’s Club. From the proceeds of the stokvel, these women have been able to furnish their houses, including buying new TVs, and appliances like fridges and stoves. They have also been able to educate their children at upmarket private schools and send them to university. The Ratanang members have graduated in engineering, law, business administration as a result of the clubbing in the stokvel. It all started in 2005, when one of their friends, Makirikiri, died and there was not enough money for a proper funeral. “We had to scrounge around to raise enough money for a decent burial and it then dawned on us, that as friends we should club together and put away some money for such eventualities. It was at this juncture that we transformed our long-standing friendship into a formal organisation and Ratanang Women’s Club was born,” said Nomathemba Magubane, who is the treasurer and secretary of the club. The members who have known each other since school as friends and neighbours would frequently meet over a cup of tea, some drinks and enjoy each other’s company. “We were just ordinary friends and we decided to build something more concrete and caring from that friendship.” 20
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This street has been nicknamed ‘Millionaire Street’ because of the upmarket properties that line up the street of this Eastbank section of Alexandra
As aptly implied by Ratanang, which is the Setswana word for ‘love each other’, the members made their friendship more concrete – a more caring embodiment of the philosophy of ubuntu. “We felt we could not just continue being friends who met for tea and drink, but not recognise harsh realities such as death, “Magubane added. When the stokvel formed, the members bought good quality dishes, cutlery and food warmers which they would then use during funerals. This was done as a result of the hard lessons they learned when Makirikiri passed on. Besides the stress of finding burial funds, back then they also had to borrow pots, plates, cutlery and other utensils to use for her funeral.
Magubane said that they have an informal relationship with Moosa’s in downtown Johannesburg, where they buy most of their goods. “The shop owner usually gives us a good discount.” Magubane modestly did not go into specifics of the stokvel’s worth, but confirms that it is the richest club in Alexandra. “Clubbing together has transformed our fortunes tremendously. I shudder to think of where we would be today without the stokvel,” she said. Magubane explains that they used to buy gifts for members on their birthdays but later discovered that some birthdays clashed. In one month, they would have three or so birthdays and it became unworkable.
