SUSTAINING GROCERY STOKVELS: THE DYNAMICS AND FACTORS THAT INFLUENCE THEIR ESTABLISHMENT

As many are effectively excluded from availing themselves of the services of financial institutions in the formal sector, they often form stokvels, an informal method of saving which is commonly practised in their home country. The research study was conducted to investigate the dynamics of...

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Main Authors: Shingirirayi, Mabika, Robertson, Tengeh K.
Format: Article
Language:English
Published: Bucharest University of Economic Studies 2021-06-01
Series:Business Excellence and Management
Online Access:http://beman.ase.ro/no112/5.pdf
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spelling doaj-95422b78b9dc44918b07dd3aaa8d6d912021-06-06T12:24:57ZengBucharest University of Economic StudiesBusiness Excellence and Management2248-13542668-92192021-06-01112698610.24818/beman/2021.11.2-05SUSTAINING GROCERY STOKVELS: THE DYNAMICS AND FACTORS THAT INFLUENCE THEIR ESTABLISHMENTShingirirayi, MabikaRobertson, Tengeh K. As many are effectively excluded from availing themselves of the services of financial institutions in the formal sector, they often form stokvels, an informal method of saving which is commonly practised in their home country. The research study was conducted to investigate the dynamics of Zimbabwean grocery stokvels in Cape Town and the factors which have encouraged their formation. A mixed-methods approach was adopted, and both quantitative and qualitative research methods were used to collect the data. The quantitative data was obtained through the administration of a survey questionnaire. In contrast, the qualitative data was obtained by conducting one-on-one semi-structured interviews with leaders of Zimbabwean grocery stokvels, their spouses, and members of their families who did not belong to their stokvels. The qualitative data was augmented through the taking of field notes during the interviews. The results indicate that Zimbabweans in Cape Town form grocery stokvels due to severe shortages of basic necessities in Zimbabwe. Their participation in stokvels enables them to accumulate funds to purchase the groceries which they need to sustain themselves and their families in the absence of assistance from financial institutions in the formal sector and also to assist their families and relatives in Zimbabwe to cope with their dire economic circumstances by sending groceries to them.http://beman.ase.ro/no112/5.pdf
collection DOAJ
language English
format Article
sources DOAJ
author Shingirirayi, Mabika
Robertson, Tengeh K.
spellingShingle Shingirirayi, Mabika
Robertson, Tengeh K.
SUSTAINING GROCERY STOKVELS: THE DYNAMICS AND FACTORS THAT INFLUENCE THEIR ESTABLISHMENT
Business Excellence and Management
author_facet Shingirirayi, Mabika
Robertson, Tengeh K.
author_sort Shingirirayi, Mabika
title SUSTAINING GROCERY STOKVELS: THE DYNAMICS AND FACTORS THAT INFLUENCE THEIR ESTABLISHMENT
title_short SUSTAINING GROCERY STOKVELS: THE DYNAMICS AND FACTORS THAT INFLUENCE THEIR ESTABLISHMENT
title_full SUSTAINING GROCERY STOKVELS: THE DYNAMICS AND FACTORS THAT INFLUENCE THEIR ESTABLISHMENT
title_fullStr SUSTAINING GROCERY STOKVELS: THE DYNAMICS AND FACTORS THAT INFLUENCE THEIR ESTABLISHMENT
title_full_unstemmed SUSTAINING GROCERY STOKVELS: THE DYNAMICS AND FACTORS THAT INFLUENCE THEIR ESTABLISHMENT
title_sort sustaining grocery stokvels: the dynamics and factors that influence their establishment
publisher Bucharest University of Economic Studies
series Business Excellence and Management
issn 2248-1354
2668-9219
publishDate 2021-06-01
description As many are effectively excluded from availing themselves of the services of financial institutions in the formal sector, they often form stokvels, an informal method of saving which is commonly practised in their home country. The research study was conducted to investigate the dynamics of Zimbabwean grocery stokvels in Cape Town and the factors which have encouraged their formation. A mixed-methods approach was adopted, and both quantitative and qualitative research methods were used to collect the data. The quantitative data was obtained through the administration of a survey questionnaire. In contrast, the qualitative data was obtained by conducting one-on-one semi-structured interviews with leaders of Zimbabwean grocery stokvels, their spouses, and members of their families who did not belong to their stokvels. The qualitative data was augmented through the taking of field notes during the interviews. The results indicate that Zimbabweans in Cape Town form grocery stokvels due to severe shortages of basic necessities in Zimbabwe. Their participation in stokvels enables them to accumulate funds to purchase the groceries which they need to sustain themselves and their families in the absence of assistance from financial institutions in the formal sector and also to assist their families and relatives in Zimbabwe to cope with their dire economic circumstances by sending groceries to them.
url http://beman.ase.ro/no112/5.pdf
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