stokvel
Noun
Meaning
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.
Examples
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.