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CONSTITUTION DOCUMENT
Stokvel Mission and Objectives
Stokvel group ……Born to Win Club……is formed on a mutual pledge to start an investment club that pools funds
and invests in the forex market. We follow these recommended principles, which are:
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Members support each other towards the attainment of specific savings /investment objectives;
Raise large investments capital through member contributions to create large profits through
investments;
Invest in Forex market and provide members with a share of the group monthly.
Diversify to reduce risk to protect the interest of its members.
Future investments of the group will include property development and real estate.
Our main objective is to provide our members with a sustainable Monthly income for them and
their families for a long time.
Contributing to church organizations and charities.
Stokvel Operations and Rules
1. Size of stokvel:
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Stokvel will be limited to 2000 members.
Should a member die , his or her family members will not automatically become members of the stokvel
But the proceeds will be paid to the deceased estate.
2. Meetings
 Meetings will be held every week (Nominate day of the month)
 A minimum of 5 members will be required for a meeting (number of members).
 All members and non members will be allowed to sit in the meetings.
 Special meetings will be called when necessary by the executive committee.
3. Contribution Amounts
 Initial Joining fee: Each member must pay from R1000 to R50 000 as a non-refundable joining
fee.
 Monthly Contributions: This is set at R130 for the year and subject to be reviewed in the next
financial year.
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4. Meeting Attendance
 If a member is unable to attend a meeting for whatever reason, he or she must send an apology in
writing.
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Should a member fail to attend three consecutive meetings without a good reason such as illness or
being away, he /she will face a disciplinary committee.
5. Membership Responsibilities
 To join our stokvel you need to be 18 years or older with a citizenship in countries that allow you
to participate in a stokvel group.
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The joining fee is to be paid to the stokvel group account and not at any time given to any
individual.
You don’t need to have a bank account to join our group.
Members will fill in an on application form (Online or offline) with their full information and agree
to the constitution and terms of our stokvel before they can submit their application form online
or by fax or email.
The stokvel governing body has a right to accept or decline any application.
Each member will be expected to conduct him or herself in a socially acceptable manner at the
meetings and other gatherings.
Members must dress in a socially acceptable manner.
Members are allowed to promote and market the stockvel in a right and reputable way for growth.
Members who mis-represent the stokvel will be expelled from the stokvel and they will forfeit any
funds that they have contributed
Stokvel members have the right to recommend other opportunities the stokvel can explore in
terms of investments but the board has the final decision.
In case of loss of all the money invested on forex then there will be no refunds to members and
the committee won’t be held responsible for the unfortunate loss.
Forex market can be risky, invest in our stokvel with money you willing to let go in case of loss.
All members will be required to pay R130 membership fee deducted from your Monthly earnings.
R130 will go to the company handling our payments to our members.
6. Stokvel Executive
The Executive Committee will consist of the following positions:
A. Chairperson, whose responsibilities are:
 To lead and prepare the agenda for meetings.
 Make sure rules are followed.
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Approve money withdrawals with other executive members.
Explore opportunities for growing the stokvel.
Run the affairs of the stokvel with the help of the secretary and Treassure.
Make sound decisions regarding the running of the stokvel
The chairperson will be compensated for their time and by running the group successfully.
B. Secretary, whose responsibilities are :
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Keep an accurate record of the Stokvel’s activities, namely minutes, correspondence and membership
register.
Maintain communication to make sure all members are informed of all activities of the stokvel.
Have signing powers with the chairperson and treasurer.
The secretary will be Compensated for helping in with the affairs of the group
C. Treasurer, whose responsibilities are:
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Keep accurate account of all the Stokvel’s finances and present copies of all the deposit slip and
transactions.
Collect money or deposit slips at every meeting.
Have signing powers with the chairperson.
Keep up –to- date with the financial charges and banking products that could be beneficial to the group.
The treasure will be compensated for their duties to the group.
7. Benefits
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Members will receive 30% in the invested money of the stokvel relative to their contribution and the value
of their investment.
Members must give 60 days’ notice if they wish to terminate membership
Members will receive 30% of the money invested every month, for 6 months.
The capital investment will not be returned to the member, only the 30% per month that they will receive
every 30 days for a period of 6 months which excludes weekends and public holidays.
Once the 6 months period has expired members have the option of re investing in to the stokvel or take
their benefits.
If you are elected to be a provincial or regional representative of the stokvel then you will receive an
allowance that will be determined by the stokvel committee (Chairperson, Secretary and Treasurer)
The stokvel will pay their members every 30 days from the day on which they have paid their joining fee
excluding weekends and public holidays, payments will be done by the company elected by the committee.
Members will receive a visa card from the company elected to do payments to members for our stokvel.
If a member dies, any money they are owed will go their family as beneficiaries.
8. Banking
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The money in the organization must be deposited into a bank account in the name of the stokvel
Signing power will be held by Authorized persons nominated by the stokvel.
All transaction must be shared equally in the stokvel if such debt is made by the stokvel.
9. Change of Constitution
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Proposed changes in the constitution must be announced 30 days prior to a meeting to be held to consider
such constitutional changes.
Changes to constitution will be made by the chairperson, secretary and treasurer if need be.