Creating Your First Scheme

Last updated: January 9, 2026 · 8 min read

This guide walks you through creating a new collective scheme on Zeturi. Whether you're starting a stokvel, burial society, investment club, or property syndicate, the process is straightforward.

Step-by-Step Guide

1. Start the Onboarding Process

1. Navigate to Onboarding
   Click "Create a Scheme" from your dashboard or go to /onboarding
2. Choose Your Scheme Type
   Select from Stokvel, Burial Society, Investment Club, or Property Syndicate

2. Basic Information

Provide the essential details about your scheme:

• Scheme Name – Choose a clear, memorable name (e.g., "Ubuntu Savings Club")

3. Configure Contribution Rules

Set up how members will contribute:

Contribution Frequency

• Monthly – Most common for stokvels and burial societies
• Weekly – For groups that meet weekly
• Quarterly – For investment clubs with larger contributions
• Annual – For property syndicates or long-term investments

Contribution Amount

• Fixed Amount – Everyone contributes the same (e.g., R500/month)
• Flexible – Members can contribute different amounts
• Per Covered Life – For burial societies (base amount × covered lives)
• Age Bands – For burial societies with tiered premiums

4. Set Distribution Rules

Choose how funds will be distributed:

For Stokvels

• Rotation – Members take turns receiving the pot
• Proportional – Distribute based on contribution percentage
• Equal Split – Everyone gets the same amount

For Burial Societies

• Event-Triggered – Claims paid when a covered life passes
• Flat Payout – Fixed amount per claim (e.g., R10 000)
• Tiered by Age – Different payouts based on age bands

For Investment Clubs

• Unit-Based – Members own units, can withdraw proportionally
• NAV Calculation – Unit value based on portfolio performance

For Property Syndicates

• Waterfall Distribution – Rental income distributed in priority order
• Capital Events – Track capital calls and distributions

5. Governance Settings

Set up how decisions will be made:

• Approval Threshold – Percentage of votes needed to pass proposals (e.g., 66%)
• Dual Signoff – Require two admins to approve large transactions
• Voting Weight – Equal votes or weighted by contribution/units

6. Bank Account Details

Add your scheme's bank account information:

• Bank name
• Account number
• Branch code
• Account type (Savings or Cheque)

7. Review and Create

1. Review Your Settings
   Check all the information you've entered
2. Confirm Creation
   Click "Create Scheme" to finalize
3. Note Your Scheme Code
   The system generates a unique code (e.g., ZET123456) shown in the confirmation screen
4. You're the First Member!
   You'll automatically be added as Member #1 with Admin role and ID ZET123456-001

After Creation

Immediate Next Steps

1. Invite Members
   Use the "Invite" button to send email invitations to your group
2. Set Up Notifications
   Configure how your group will be notified about contributions and distributions
3. Record Initial Contributions
   If your group already has funds, record the opening balance
4. Create Scheme Rules Document
   Download and customize the scheme rules template for your group

Scheme Type-Specific Setup

Burial Societies

Additional setup required:

• Set waiting period (e.g., 3 months before claims are valid)
• Configure reserve fund target (e.g., 6 months of premiums)
• Set up dependant coverage rules
• Define claim approval workflow

Investment Clubs

Additional setup required:

• Set initial unit price (usually R1.00 or R10.00)
• Configure NAV calculation frequency (daily, weekly, monthly)
• Set withdrawal notice period (e.g., 30 days)
• Define investment mandate and restrictions

Property Syndicates

Additional setup required:

• Register initial property details
• Set up distribution waterfall (bond → reserve → dividends)
• Configure capital call process
• Define exit and transfer rules

Common Mistakes to Avoid

Success Checklist

Your scheme is ready when you've completed: