The Study Circle

    In order to promote the CFI Sector in South Africa, Co-operative Bank Development Agency has initiated the program known as the Study Circle. This Program has rolled out in few provinces and some CFIs’ which applied for this program have received training. Ziphakamise was one of the CFI’s that sent its members for training which took place in Durban.

    The Importance of The Study Circle

    The study circle has been identified globally as an effective tool for educating members of Self Help Groups, organizations and many other people who share a common vision and goals in different economic and social areas. CFI’s are encouraged to use the study circle to empower their members in order to sustain their business through effective participation of informed members.

    The fundamental purpose of the Study Circle is to educate members about the concept of the CFI (Financial Co-operative) and the products it can offer.

    The general concept is that if the CFIs’ can use the program effectively it can address a number of challenges that are already experienced. Members can improve their loan repayments and their savings patterns, they can also help in recruiting other new members to help grow and sustain their Financial Co-operatives

    Study Circles can also be used as an education tool. Members can come together to learn about any topic from Finance, Budgeting, Insurance to personal issues like HIV/AIDS and Cancer etc.


    Members with common interests such as same soccer team supporters, same religion, same business interest get together to form a group of 15. They set their own calendar for meetings where they will tackle different topics every week/meeting. They can learn more about financial co -operatives and request CFI to provide them with study material. They can also request expert advice from CFI for topics that they have insufficient information on.

    Members can open up a separate fund/account for their study circle group and save together towards common goal (soccer match, church conference, start a business)

    We know that ‘life is hectic’ and there is ‘simply no time’ but we urge our members to make use of this program as it will enrich their lives in so many ways. We want to see our members developing themselves and achieving great milestones. We can only achieve that if we are informed and empowered and take charge of our destiny.

    To find out more about the program, please enquire at the office.

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