As stokvels gear up to share the dividends from their savings and split their groceries in bulk, DA leader Bonginkosi Madikizela urged members to change their mindset about how they spent their money.
Stokvels use the first weekend of December to end the year by splitting groceries in bulk and cashing in on their savings.
Speaking in his capacity as party leader, Madikizela addressed a packed conference with the theme “Social Enterprise and Social Justice” on Thursday evening, at Amazink Live in Kayamandi, Stellenbosch.
Among dignitaries were Mbusowabantu Madonsela, of the Thuli Madonsela Foundation, and Stellenbosch Local Municipality deputy mayor Nyaniso Jindela.
Madikizela encouraged entrepreneurs to tap into the property market, which he said was valued at R6trillion.
Madikizela said he wished black communities, particularly the elderly in burial societies, to change their mindsets and stop “investing in death”.
He said the informal market on savings, including burial societies, is worth R40billion. Madikizela referred to the inequality between black and white South Africans, saying the “so-called new dawn” under President Cyril Ramaphosa has not taken the country forward.
Touching on the land issue, Madikizela said he was “vehemently opposed” to EFF policies.
The EFF has a stronghold in new informal settlements, including the contentious Azania, in Kayamandi.
Madikizela said high school pupils did not understand what drove the Western Cape economy and that often led to “unemployability”.
Mbusowabantu, co-founder of the Thuli Madonsela Foundation, said the foundation’s aim was to spread awareness about democracy and access to information.
Madonsela announced research by the foundation that would include a few communities, including Kayamandi and Gugulethu, across the country.
Loyiso Mbete, founder of UT Project Managers, said the natural resources available on earth could only cater to nine billion people.
He said there were seven billion people on earth.
Mbete said innovation would be needed for sustainability.