A robust structure is the cornerstone of our commitment to empower and uplift Stokvels across South Africa. We’ve evolved to place the NASASA Financial Co-Operative at the heart of our organization, driven by a mission to provide comprehensive financial solutions. Let’s delve into the intricacies of our structure:

1. NASASA Financial Co-Operative (NASASA FC):

• Overview: The NASASA FC, holding a deposit-taking license, stands as the central financial institution within our ecosystem. It’s dedicated to serving the unique needs of Stokvels, offering a secure space for financial transactions and fostering growth.
• Governance: The NASASA FC operates under the guidance of a Board of Directors approved by the Prudential Authority. Committees within the FC oversee specific aspects of its operations.

2. Committees within NASASA FC:

• Independent Audit Committee: Ensures financial transparency and accountability.
• ALM Committee (Asset and Liability Management): Manages risks related to the balance sheet.
• Governance Committee: Oversees the overall governance structure of the NASASA FC.
• Insurance Committee: Develops and provides insurance products to Stokvels.
• Product Committee: Focuses on developing relevant financial products for Stokvels.
• Education Committee: Facilitates financial literacy initiatives for Stokvel members.
• Credit Committee: Manages credit-related matters for Stokvels.
• Technology Committee: Drives technological advancements for efficient operations.
• Nominations Committee: Manages appointments within the NASASA FC.
• Executive Committee: Led by the Founder and Chairman, overseeing high-level strategy and decision-making.

3. NASASA Fund Management:

• Role: Serves as the management company raising funds for NASASA FC.
• Functions: Develops enabling technology on behalf of NASASA FC and supports fundraising initiatives.

4. NASASA Self-Regulatory Organisation:

• Role: Creates and maintains a regulatory framework for Stokvels, ensuring compliance and integrity in financial operations.

5. NASASA Network Agency:

• Role: Holds an FSP license and offers short- and long-term insurance products to Stokvels.

6. NASASA Members:

• Dual Membership: NASASA members are affiliated with both the NASASA umbrella association and the NASASA FC, fostering a collaborative environment.

7. Additional Entities (Future Developments):

• National Credit Regulator License: In progress to strengthen our regulatory capabilities.

8. Organizational Structure:

• Management Company Team: Comprising an Executive team, 13 Heads of Departments, and 130 staff, supporting the NASASA FC.

Our structure is a testament to our commitment to providing a comprehensive and regulated environment for Stokvels to thrive. By placing NASASA FC at the center, supported by specialized committees and entities, we’re ensuring the empowerment and success of Stokvels across South Africa. Explore the depth of our structure as we continue to evolve and innovate for the benefit of our members.