The United African Stokvel Savings Plan
A South African startup called the United Arican Stokvel is taking on the challenge of digitizing traditional informal savings unions in the country with the goal of encouraging more people to save.
Stokvels, informal credit unions in South Africa, are common in many parts of Africa and are largely used to pool together fixed amounts of money either weekly, fortnightly, or monthly, with the goal of assisting group members whenever they need loans or financial assistance.
So far, the service has over 2, 000 active saving members.
Learn more: www.bitcoinke.io