Noun
stokvel (plural stokvels)
(South Africa) A small, informal syndicate of people who regularly contribute money to a shared fund of savings. Stokvels differ in function, but generally members periodically take turns in drawing money from the accumulated fund.
It can be an investment stokvel, it can be a holiday stokvel, where you find a lot of young people are putting together funds, making sure that as a group they can see different parts of the world. Source: Internet