Stokvelex is an exhibition targeted at stokvels, societies, megodishano and cooperatives, featuring an exhibition hall and workshop areas. The expo will provide innovative solutions to stokvel groups, individuals and associations through an open exhibition of various products, brands including networking forums. This is where stokvels will get an opportunity to engage, grow their organization, share knowledge and forge relations with other stokvels and formal institutions that serve their specific needs.
The exhibition was founded and managed by Seven Colours Communications, a youth led company. The exhibition covers the following sectors and has had various companies exhibiting since the inception of the concept in July 2014.
Members get an opportunity to choose between service providers that serve them under one roof without having to travel to different parts of town for information.
The exhibition is the best platform for them to compare apples with apples.
Members get a better understanding of how their stokvels affect local economies.
A majority of stokvels are based in townships and rural areas. Once the Stokvels get an understanding on how their organisations help with the township economies, they will spend wisely to support businesses that serve the community.
The exhibiting companies have an opportunity to engage with Stokvels first hand and develop insights on how to package their offerings to this market directly. Stokvelex is the first exhibition to bring together a variety of service providers under one roof, below is a brief explanation on how the different sectors can benefit:
Financial planning institutions get a chance to inform the stokvel groups on the importance of financial planning and the regulations protecting them. The financial institutions get to highlight products designed specifically for the stokvel market and other products designed for individuals in the foundation phase.
Funeral Parlours get to showcase different packages that they have to the stokvel groups. Added benefits above the basic burial package and also an opportunity to introduce their product to new clients.
Wholesalers get to showcase the various packages that they have for Stokvels and Cooperatives.
Most stokvel members have kids that they would like to enrol for further studies, and some assume that the fees are expensive. This is an opportunity for tertiary institutions and bursary to explain how their models work. Some learners do not have access to information on further learning. This would be a good place to engage the parents directly.
Tour operators and venues get a chance to showcase their offerings on group travel for this market. There is a huge opportunity in growing the domestic travel from the stokvel market alone. Guest houses and hotels can be used as monthly meeting points, as it stands Stokvels would converge at one members house on a rotational basis, as the host you have to prepare food for other members for a nominal fee paid for by the other members, this can be moved to local guest houses and lodges to allow all members to engage fully in their meetings without worrying about doing the dishes and running in and out of the kitchen the entire time. Leisure and Travel stokvels normally frequent the same lodge every year for their yearend function, the active participation of tour operators and tourism products will increase in the segment.
Township based businesses like your event hire, bakers, general dealers can grow through the support from local stokvels and societies. This platform will help the local businesses to build and strengthen relationship between them and the stokvels. It is the best marketing strategy in that you get to know and understand the stokvel market. That is a market that already exists for them in that space, and they have not taken advantage of this space.
