THE Absa Stokvel Awards are back, with nominations open to find the nation’s best homegrown savings initiatives.
Absa is calling on all stokvels, whether burial societies, grocery clubs, savings stokvels, youth funds, and investment collectives, to step into the spotlight and show South Africa the power of unity and collective saving.
This year’s theme, “Every Story Deserves a Stage,” encourages South Africans to look at stokvels not just as saving tools, but as cultural institutions built on trust, care, and progress.
“With over 800 000 stokvels operating in South Africa, we want to showcase how they drive income security while building networks of like-minded, goal-oriented people.
The Absa Stokvel Awards give a platform to the stokvel trailblazers inspiring healthy savings that can change lives,” said Tawanda Rumhuma, Executive: Savings and Investment at Absa Personal and Private Banking.
Following the success of the inaugural awards last year, this year’s event is set to be bolder and more empowering than ever before, with cash prizes of up to R100 000 for each stokvel winner, categories celebrating impact and innovation , and a strong commitment to telling the stories behind the savings on a national stage.
The Awards will honour exceptional groups in the following categories:
- Stokvel of the year
- Lifetime Stokvel Achiever Award
- Best Community Impact
- Most Innovative Stokvel
- Best Stokvel in Financial Literacy and Leadership Best Digitally Empowered Stokvel Best Stokvel Enablers
Nominations are now open at www.absa.co.za/stokvelawards.
Groups stand a chance to win up to R50 000, and if they already have or open the Absa Investment Club Account, that amount could be doubled to R100 000 (terms and conditions apply).
A recent Ipsos study highlights the power of South Africa’s more than 800,000 stokvel groups, which collectively include around 11 million members. These groups form a vast network of dynamic “human banks,” with cash still being the preferred method of operation. Despite their significance, over 60% of these stokvels remain unbanked.
That’s why Absa is committed to providing platforms that support and elevate these vital savings initiatives, while also offering tailored banking products to partner with them on their stokvel journey.
Rumhuma added, “Absa stands as a trusted partner and champion of financial empowerment, regardless of circumstance.
These awards are more than a ceremony. It’s a nationwide platform to celebrate everyday South Africans doing extraordinary things through collective effort.”
To nominate a stokvel today and celebrate what these communities have built/building, visit www.absa.co.za/stokvelawards
Entries close: 31 October 2025
Qualifying stokvels must be:
- A valid stokvel/club/burial society or stokvel stakeholder (additional information may be required to verify)
- All Stokvels are welcome to enter regardless of where they bank or if unbanked A minimum of 6 months in operation, however, if stokvel banks with Absa or opens an Absa Investment Club Account, it does not need to be older than 6 months.
Stokvels that win could walk away with R50 000 – That’s not all, if they have or open an Absa Investment Club Account it will double to R100 000, terms and conditions apply.
Visit any Absa branch to open an Absa Investment Club Account.
For more information contact: stokvels@absa.africa
