stokvel

British

/ ˈstɒkˌfɛl /

noun

an informal savings pool or syndicate, usually among Black people, in which funds are contributed in rotation, allowing participants lump sums for family needs (esp funerals)

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Etymology

Origin of stokvel

C20: of uncertain origin

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Banking a stokvel offers multiple chances to make money.

From Reuters • Oct. 7, 2021

Andrew Lukhele, who chairs stokvel association NASASA, said banks bring demands for documents, a constitution - not necessary for all groups - and more rigidity in how the money can be used.

From Reuters • Oct. 7, 2021

Standard Bank is building up a network of partnerships with such organisations, which already spans 20,000 outlets, to promote the new account and create a stokvel loyalty programme.

From Reuters • Oct. 7, 2021

Rival FirstRand’s retail division, FNB, launched a fee-free account for stokvel customers earlier this year.

From Reuters • Oct. 7, 2021

Absa, is also looking to enhance its stokvel product, its head of savings and investment Thami Cele told Reuters.

From Reuters • Oct. 7, 2021

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023