South Africa has a long and proud history of stokvels — communities built around trust, discipline and shared financial goals. These systems have empowered families for generations by creating safe spaces for saving, lending and mutual support. At MyChama, we honour this heritage while embracing modern technology to help South Africans save more effectively and grow toward their personal and business goals.

Today, we are proud to announce a powerful partnership that strengthens this mission: MyChama has officially partnered with Mali Pty Ltd, a registered credit provider (NCRCP18719) focused on responsible, transparent and developmental lending. Together, we are bridging the gap between disciplined saving and meaningful financial opportunity.

This partnership is not just a collaboration between two platforms — it is a shared commitment to uplifting communities, supporting entrepreneurs and helping households achieve long-term financial wellbeing through structure, discipline and responsible progress.

A Partnership Built on Shared Values

At its core, MyChama is a stokvel savings platform designed to help individuals, families and small businesses save purposefully and consistently. While the platform remains fully independent, it provides structured savings behaviour that can unlock real-world opportunities when combined with the right developmental support.

Mali, on the other hand, specialises in providing responsible credit solutions that empower customers to take the next step in their journey — whether that means buying equipment for a small business, improving a home, paying school fees or supporting essential household needs. Mali’s model is based on transparency, affordability, compliance and community upliftment.

By working together, MyChama and Mali align saving with opportunity, ensuring customers grow both their financial discipline and their ability to improve their lives responsibly.

How the Partnership Works

Many lending challenges in South Africa come from a lack of financial discipline or the absence of a savings buffer. At MyChama, members build a verified savings record over time. Through this partnership, that savings record now holds even more value.

Here’s how the connection works:

1. MyChama remains a fully independent stokvel savings platform.
   Members continue saving as they always have, controlling their funds entirely. Mali does not manage, touch or influence member savings.

2. Members save consistently for at least six months.
   This forms the minimum foundation for demonstrating financial discipline.

3. Members who meet the savings thresholds may qualify for Mali developmental loans.
   MyChama members may contribute 20% (for personal loans) or 40% (for developmental loans such as asset finance, school fees loans or home improvements), after which Mali may finance the remaining portion.

4. Mali verifies savings behaviour — not balances.
   MyChama provides a verified record of how long and how consistently a person has been saving. The savings stay with MyChama, while Mali uses the verified record to assess eligibility.

5. Mali pays approved suppliers or institutions directly.
   Whether it is school fees, home improvement materials, or business equipment, Mali ensures funds go straight to the end provider, keeping the process responsible and safe.

This model protects members from over-indebtedness, supports healthy financial habits and allows people to grow through structured, transparent and sustainable means.

Why This Partnership Matters for South Africans

South Africans face many financial realities: rising costs, unpredictable emergencies, difficulty accessing formal credit and limited support for small businesses. Traditional banks often require high balances or strict criteria that many ordinary people cannot meet.

MyChama and Mali recognise this challenge — and together, they offer a solution that is realistic, fair and rooted in the financial behaviour of everyday people.

Here’s why the partnership is so meaningful:

1. It rewards discipline, not income level.

You don’t need a high salary to start moving forward. You just need to save consistently and show commitment — something every MyChama member can do.

2. It strengthens financial literacy and behaviour.

Saving for six months before applying for credit teaches long-term discipline and reduces irresponsible borrowing.

3. It reduces dependency on full credit.

Because members first contribute a portion (20–40%), they borrow less, repay faster and avoid expensive debt cycles.

4. It empowers small businesses.

Entrepreneurs often need equipment, licensing or compliance support — but banks rarely fund these needs. Mali steps in responsibly, with MyChama savings forming part of the equity contribution.

5. It supports families and education goals.

School fees, home improvements and essential household needs are easier to manage through a combined savings-and-credit approach.

6. It is transparent and safe.

Mali pays suppliers directly, eliminating misuse of funds and ensuring members receive exactly what they applied for.

Together, MyChama and Mali are creating a financial ecosystem where progress is not based on privilege, but on consistency and empowerment.

A Partnership Rooted in Responsible Lending

One of the most important aspects of this partnership is compliance. Mali is fully registered with the National Credit Regulator (NCRCP18719) and follows strict responsible-lending laws.

This means:

• No loans are granted without proper affordability checks

• MyChama savings cannot be substituted for affordability

• Members cannot borrow more than they can reasonably repay

• All loan terms are transparent and aligned with the National Credit Act

• Insurance products are provided only through authorised insurers

MyChama, in turn, remains strictly a savings platform, not a deposit-taking institution.
This separation ensures that both parties operate ethically, safely and in full compliance with South African law.

Building a Financial Future, One Step at a Time

The partnership between MyChama and Mali is more than a financial arrangement — it is a pathway to empowerment.

MyChama helps members build stability.
Mali helps members unlock opportunity.
Together, they support South Africans in taking meaningful steps toward their dreams.

Whether you’re working toward a business upgrade, a child’s education, a safer home or a personal milestone, your savings journey is now directly connected to real, accessible progress.

Start Your Journey Today

If you’re already a MyChama member, keep saving consistently. Every contribution strengthens your financial foundation and brings you closer to opportunities with Mali.

If you haven’t yet joined MyChama, now is the perfect time to begin.
Visit www.mychama.co.za and start saving with purpose.

Your discipline builds the foundation.
Our partnership helps you reach your goals.
Together, we move South Africans forward — one step at a time.