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Stokvels need to be careful

Festive Season requires stokvels to be vigilant when cashing in their savings.

As the December season is almost here, many Stokvels groups are getting ready to go to banks and withdraw their yearly savings.

According to Nondumiso Mpantsha the Kliptown police spokesperson, Stokvels are saving clubs that some residents use to save money to be withdrawn at the end of the year.

“Now is the time that criminals use to strike and residents need to be on the lookout.

“We urge those residents that are going to withdraw their money to be extra vigilant and go in groups to insure that their money is safe,” she said.

She said there have been a lot of cases in the previous years that have been reported, where residents had lost their money due to criminals being on the lookout.

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