Abstract
This dissertation explores the intersection of stokvels, particularly savings clubs and burial societies, and the development of financial infrastructure within the context of persistent economic grievances in South Africa’s township economy. It employs an oral history methodology to focus on historical events that necessitate the use of informal savings strategies. It traces the creation of Soweto under British colonial rule and systematic expansion under the apartheid regime, particularly through urban segregation policies. Key events, including the forced removals from Sophiatown under the Group Areas Act of 1950, the implementation of the Bantu Education Act, the student uprising, and the economic crisis of the 1980s, are analysed as moments that fostered the need for informal savings strategies. This study further explores the institutionalisation of stokvels, particularly the formation of the National Stokvel Association of South Africa and its 1988 collaboration with Perm Bank to launch the Club Account, created to serve stokvel groups. This institutionalisation marks an intersection between stokvels and formal banking infrastructure. The study also explores other forms of financial technology that later support stokvels, including digital banking platforms and loyalty card programs that offer discounts to group members.