E40 000 disappears from stokvel fund

Some stokvel members might not have the pleasure of getting a share of the money they had been saving the whole year, as there are claims that about E40 000 of stokvel cash disappeared at a William Pitcher College lecturer’s residence.

The discovery that the money was missing was reportedly made by the female lecturer on Saturday morning.

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A stokvel is a community-based savings group where members contribute money regularly and take turns receiving a lump-sum pay out. Dividends of the pooled money are shared periodically, depending on how the members decide. Some share the money twice a year or buy groceries that they share two times a year.

Meanwhile, others save money which they also lend the cash with interest for the whole year, then share it among themselves at the end of the year.

The few weeks of December are usually the preferable time to collect all monies owed to the organisation before sharing it among the members. In this case, the members might not reap what they sowed all year.

Sources close to the matter said last Friday night, the lecturer attended a prayer service and returned to her house within the college’s premises on the Saturday morning.

She reportedly did not find the money which was kept in a wardrobe within her bedroom. Her effort to ask a male student, that impeccable sources said lived with her, proved futile as he was also reported to have disappeared.

Further efforts to reach the student through his mobile phone, sources said he did not answer.

The matter was reported to the Manzini police, as confirmed by acting Chief Police Information and Communications Officer, Assistant Superintendent Nosipho Mnguni.

She said the police were still investigating the matter and no arrest has been made yet. Mnguni advised stokvel members to be vigilant, especially during this time of the year where they share their savings.

Mnguni said to prevent cases where the stokvel members get their savings stolen, they should never disclose the dates of when they would be sharing the money or the venue where this would be done.

Better yet, Mnguni advised stokvel members to involve the police whenever they would be handling large cash in order to get protection.

“Stokvel members may alert nearby police if they will be handling large amounts of cash so that they could be provided with protection. They can even share their money at police stations where they could also be advised on handling tactics while they carry the money home,” said Mnguni.

Recently, Director of the Fraud and Commercial Unit, Assistant Commissioner of Police Nicholus Jele, advised stokvel members to cease from keeping cash in trunks at their homes as this posed serious financial risks.

He stated that already there was a case where a citizen lost money that she had kept in a trunk.

Over the years, December has proven to be a month where citizens lose their stokvel money to thieves. On December 21, 2024, a 67-year-old woman of Bhekinkhosi area under Kukhanyeni Constituency was robbed of a sum of E17 000 a few hours after she got her share from a stokvel.

She reported that she was robbed by five armed men who were armed with a pistol and knife just before midnight on the day.

In a different case that happened at Dalriach in Mbabane, a 67-year-old woman was robbed of cash and jewellery all worth E305 000.

Sources said the woman was robbed by two men who invaded her home in Dalriach on Sunday morning. The suspects are said to have been armed with a firearm.

Acting Chief Police Information and Communications Officer, Assistant Superintendent Nosipho Mnguni confirmed that a robbery that had taken place at Dalriach East was reported to the police. She said the police were working around the clock to bring the culprits to book.

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