How to setup (for informal stokvels)

  • Stokvel Constitution
  • Resolution to open mobile money account
  • ID copies for four Stokvel members

How to setup (for partnerships)

  • Copy of Constitution or Deed of Partnership 
  • Partnership Resolution for Account opening
  • Proof of physical address for entity 
  • Proof of residence for Signatories/Partners
  • National Identity document for Signatories/Partners

What are the perks 

  • No opening balance required for MoMo stokvel
  • No monthly account fees
  • Free statements downloadable from online portal
  • No fees applicable to the stokvel when money is sent to members e.g. loans or dividends disbursements 
  • Access to a wide agent network across the nation
  • Transparency: All members have sight of the fund’s activity.
MoMo Stokvel

How to