JOHANNESBURG, Oct 7 (Reuters) – Thandi Mkhabela’s money used to slip through her fingers.Now the 34-year-old mother of four earns interest on monthly savings, has paid off debts and is planning to extend her house in a township just outside Johannesburg, without ever dealing with a bank.Mkhabela’s improved financial footing came after she formed a savings club in June 2020 with 16 other women. Each of them contribute between 100 rand ($6.64) and 500 rand a month, and the club, known as a stokvel, offers three-month loans to members at rate of 10% per month. At the end of the year they split the pot …
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