Ricochet News

Nelson Mandela Bay stokvels lose R430 000 to robbers in just two weeks

Dec 10, 2019
Nelson Mandela Bay stokvels lose R430 000 to robbers in just two weeks

Port Elizabeth - Over the past month, police in Nelson Mandela Bay have on several occasions warned the organisers and investors in stokvels and savings clubs not to move around with large sums of money and to rather make use of electronic banking solutions to distribute and share the money.

"It is with great dissappointment that both police Cluster Commanders of Nelson Mandela Bay have seen that these warnings were not adhered to and that these stokvel clubs just look the other way and continue to operate with large sums of cash in their possession," said police spokesperson, Captain Andre Beetge.

"On Monday, there were another two incidents where stokvel moneys were withdrawn from banks, and once the carriers reach their destinations, armed robbers shows up and take all of it."

He said that for the past two weeks, there were seven stokvel robberies totalling just under R430 000 in the Motherwell Cluster alone.

"This means that there are investors that lost R430 000 due to the negligence of their stokvel investment organisers," Capt Beetge said.

Motherwell SAPS Cluster Commander, Major General Dawie Rabie, expressed strongly that these stokvel organisers do not seem to have the best interests of their investors at heart.

Investigations have been launched to probe these organisers, who blatantly ignore police warnings and then proceed to have these moneys robbed from them.

"Investors should do research on their stokvel club organisers before joining and make sure that their investments will be kept safe and distributed in safe ways back to them," he said.

"There should be minimum risk of being robbed by making use of electronic transfers. While this is continued not to be done, more robberies will take place and more investors will go empty handed."

Follow more RNEWS articles, subscribe to our YouTube channel and for breaking news LIKE us on Facebook. For news on the Western Cape click here.

For great savings on life’s little pleasures visit Bargain Buys!  Know somebody who is getting married, Wedding and Function can assist.  Have kids, then you need to visit Kids Connection. Enjoy food and travel, then visit Home Food and Travel. Need assistance with an online presence, visit Agency One.