First share-outs: a milestone

by Sharon
6 June 2016
6 June 2016

Three share-outs among savings groups established in partnership with Siyakhula Sonke took place in KZN in June. The Thandolwethu Savings and Credit Group met for their first share-out at the picturesque Samungu Methodist Church overlooking the Inanda Dam. The total share-out for the 13-member group amounted to R20,362.00, with savings component being R13,950. Over the course of the year, share values rose from R50 to R72, representing a massive increase of 44%.

Siyakhula Sonke trustees Wendi Tiedt and Peter Crundwell said the ultimate goal behind the savings groups was to give people enterprise development skills.

“The savings group empowers people to take control over their personal finances. This is a critical step before taking the next steps towards enterprise activities,” said Crundwell.

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