Abstract

Burial societies are types of mutual rotating schemes (stokvels) that are integral in indigenous communities in South Africa, providing funeral assistance to members and operating on the periphery of society. They are a necessity given the financial needs to upkeep burial rites in these communities. Burial societies are founded on sui generis contracts that are characterised by flexibility, cultural norms, ubuntu-based dispute resolution and innovative risk mitigation mechanisms. The existing regulatory framework perceives burial societies as entities offering funeral insurance products. Accordingly, this article examines the regulatory frameworks within which burial societies could operate and assesses their suitability. It interrogates their legal personality and contracts which is necessary because the framework applies to entities offering funeral insurance.