stokvel

/ (ˈstɒkˌfɛl) /

noun

Southern African 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)

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anchorite

Word Origin for stokvel

C20: of uncertain origin
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