InventoryClub Is Launching a Digital Hemp & Cannabis Stokvel

Anyone can take part in the production, sale, and purchase of African agricultural products with InventoryClub, a South African-based digital platform for agricultural marketing.

Africa’s agricultural sector has enormous potential, but it also confronts several obstacles, such as a lack of basic infrastructure and access to energy and irrigation. By developing the agricultural value chain holistically, the continent will be able to realise its potential for self-sufficiency.

To tackle the challenges; InventoryClub is interconnecting the African agricultural value chain to improve food security, boost productivity, increase stakeholder value and reduce post-harvest loses by operating 6 stokvels. A Stokvel is a type of credit union in which members agree to contribute a set amount of money to a communal pot once a week, twice a week, or once a month. Such a system is commonly referred to as a rotating savings and credit organisation (ROSCA), which is a group of people who agree to join together for a set period of time in order to save together.

There are similar financial systems in other countries than South Africa. They go by the names Chama in Swahili-speaking East Africa, Tandas in South America, Kameti in Pakistan, Partnerhand in the West Indies, Cundinas in Mexico, Ayuuto in Somalia, Hui in China, Gam’eya in the Middle East, Kye in South Korea, Tanomoshiko in Japan, Pandeiros in Brazil, and Susu in West Africa.

InventoryClub’s stokvels are formed with the goal of providing royalty financing to African agricultural opportunities that will help grow the members pooled funds. Members of InventoryClub’s digital stokvels can make contributions as little as R100 as a one-time payment or as frequently as the user likes, in contrast to traditional stokvels. Each year, members vote on the percentage of royalties they will get, with the remaining funds being utilised as working capital for the following year, or they can choose to leave the stokvel with all of their contributions and royalty payments. Each member is given a royalty in proportion to their stokvel contribution.

The general public will be able to engage in South Africa’s legal cannabis market from as little as R100 when InventoryClub launches its Hemp & Cannabis Stokvel on January 16, 2023. This lowers the entry barrier for anyone looking to enter the lucrative medical cannabis market in Africa, which is expected to be valued at $7 billion by the end of 2023. The Hemp & Cannabis Stokvel will infuse much-needed cash into the South African market, and agricultural enterprises who satisfy the requirements for accessing financing can apply. Members of the stokvel can manage their portfolios and monitor the development of financed enterprises through the InventoryClub portal.

Terry Igharoro, founder of InventoryClub said “Our stokvels serve as a way for us (the people) to contribute to the building Africa’s agricultural value chain. Launching the Hemp & Cannabis Stokvel is a huge milestone that will open many opportunities for job, industry and wealth creation.”

To commemorate the launch, InventoryClub is providing a 10% bonus on first contributions to anyone who joins the Hemp & Cannabis Stokvel waiting list before January 16, 2023.

Want to learn more about InventoryClub and start exploring stokvel opportunities in agriculture? Sign up for free at inventoryclub.com. If you prefer a more interactive experience, register for an InventoryClub workshop at inventoryclub.com/workshop.

Notes to Editors:

For more details about the InventoryClub project, or to arrange an interview with Terry, please visit the website or email press@inventoryclub.com.

Contact

Zito

+27(0)616962545

press@inventoryclub.com