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Abstract
Academic studies have neglected the financial aspect of the informal economy. This article examines saving among the poor and their savings institutions (stokvels). The black community is disadvantaged in the financial market by having limited access to formal sources of finance. Stokvels are important in filling this gap. A planning priority for South Africa is adequate financial provision for all its people. In financing the reconstruction of the economy, policies for enhancing savings and redirecting them into investment will prove crucial.
Notes
An earlier version of this paper was delivered at the biennial meeting of the Economic Society of South Africa in Pretoria in October 1993.
Department of Economics, University of Durban‐Westville.
