Analysing Stokvels Development Through the Lens of Layered Conceptual Framework

Abstract

Despite the popularity of stokvels, there is dearth in studies to develop integrated models of stokvels. This study intends to provide a conceptual framework for developing an integrated framework by layering each component of the Maslow’s hierarchy of need and Hayes & Wheelwright business models. Simple random method was adopted on 395 stokvelgroup’s members who were administered with a questionnaire and the purposive sampling method on 6 MC members of eThekwini Municipality that participated in the interviews. The qualitative data was analysed using N-VIVO (version 11.0). The quantitative data was analysed using inferential and descriptive statistics. A new model layering Maslow’s theory with the Hayes & Wheelwright four-stage model was developed using a theory triangulation technique to validate the theories with the findings of the study.