At NASASA, we stand at the forefront of protecting, promoting, developing, and supporting the Stokvel practice—an integral aspect of South Africa’s financial landscape. As a multifaceted institution, NASASA assumes pivotal roles under its umbrella to ensure the resilience and prosperity of Stokvels across the nation.
1. Self Regulatory Organisation (SRO)
Approved by the South African Reserve Bank, NASASA is entrusted with the self-regulation of the Stokvel sector. We meticulously monitor and uphold industry standards to safeguard the interests of Stokvel participants.
Reference: Government Notice 404 in Gazette 37903 on 15 August 2014
2. Registered Financial Co-Operative
Recognized by the Prudential Authority under the Co-Operative Banks Act, NASASA operates as a Financial Co-Operative, providing a secure and cooperative financial environment for Stokvels.
Reference: National Stokvel Association of South Africa Financial Primary Co-Operative Limited, Certificate No. 0024
3. Authorised Financial Services Provider (FSP)
Approved by the Financial Services Conduct Authority, NASASA holds the designation of an Authorized Financial Services Provider. We adhere to the highest ethical and professional standards in delivering financial solutions.
Reference: NASASA Network Agency (Pty)Ltd, FSP: 52815
4. Investor in National Treasury Bonds
As a stakeholder in the nation’s financial fabric, NASASA invests in National Treasury’s Financial Co-Operative Retail Savings Bond, contributing to economic growth and stability.
Reference: NASASA FC, Investor No. FC00282303
NASASA’s Diverse Roles
1. Supervise and Regulate Stokvels:
NASASA exercises robust supervision and regulation to ensure compliance with industry standards, fostering a secure environment for Stokvels to thrive.
2. Promoting Stokvel Community Development:
Committed to community development, NASASA actively promotes initiatives that empower Stokvels and enhance their socio-economic impact.
3. Building Relevant Financial Entities:
NASASA plays a pivotal role in establishing and nurturing financial entities tailored to the unique needs of the Stokvel sector.
4. Acquiring Enabling Licenses:
We acquire and maintain licenses that enable Stokvels to operate within a regulated and legally compliant framework.
5. Promoting Stokvel Financial System Stability:
NASASA prioritizes the stability of the Stokvel financial system, fostering safety and efficiency in all Stokvel transactions.
6. Developing the Stokvel Regulatory Framework:
We continuously refine and develop the regulatory framework governing Stokvels, ensuring it evolves to meet the changing dynamics of the financial landscape.
7. Advocacy for Stokvels:
NASASA advocates for the interests of Stokvels at various levels, representing their needs and contributions in the broader financial context.
To adapt and stay relevant to the constituency. NASASA operates as a learning organisation, purposefully interacting with our environment and continiously improving our process based on experiments and feedback.
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