Browsing by Author "Maphumulo, Nontokozo"

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    The use of digital technology by savings and investment stokvels
    (2023) Maphumulo, Nontokozo
    Savings and investment stokvels in South Africa have adopted digital technology in their processes; however, there is limited understanding of how these technologies have impacted certain aspects in these stokvels. There is also limited research on understanding the factors that influence technology adoption by them. This study aimed to investigate the impact of digital technology on aspects such as social interaction and savings culture. Furthermore, the study also aimed to examine the factors that influence technology adoption by savings and investment stokvels. The literature reviewed focused on traditional and digital stokvels, and the Unified Theory of Acceptance and Use of Technology (UTAUT2) underpinned the study. The quantitative approach using survey method was employed. An online survey was distributed to individuals who are a part of stokvels that make use of digital technology such as WhatsApp, Email, Facebook, and Digital Technology in their stokvels. Based on the results, the conclusions of the study were that digital technology positively impacts the aspects mentioned; and three of the five factors selected for this study determined technology adoption amongst savings and investment stokvels. On this basis, it is recommended that FinTechs and Banks develop technology for these stokvels that considers their need to socialise, communicate and grow, while considering the factors that influence technology adoption among them. Moreover, further research is required to investigate the impact of digital technology on other aspects of these stokvel such as trust.