Tshepo Moloi is founder and CEO of StokFella, a fintech solution that aims to revolutionise a 19th-century practice into a modern and tech-savvy sector that allows more than 8.5 million South Africans to participate in the economy.
Moloi has seven years’s experience in the finance industry, where he acquired financial modelling, client value proposition and business strategy skills, with a further two years’ experience in mining consulting.
His belief in entrepreneurship stems from his engineering academia days and Newton’s third law, which states that: ‘For every action, there is an equal and opposite reaction’. To Moloi, this equates to: the amount of sweat you put behind your dreams determines the amount of success you will achieve tomorrow.
StokFella was born out of his personal journey in seeking to solve the administrative challenges he faced in managing his own stokvel, but was also inspired by being part of a 20-year-old family stokvel in Soweto, where he grew up.
In observing his family’s stokvel as well as a number of other stokvel groups, it became apparent to Moloi that the biggest challenge keeping stokvels from reaching their full potential related to administrative constraints. This is the aim of StokFella, to reduce the administrative burden of running and managing a stokvel.
Moloi believes that once the foundation is properly laid with quality administration systems and financial literacy, stokvels and their members can truly begin to pursue financial freedom.
Brought to you by Nedbank Private Wealth.