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stokvel

/ ˈstɒkˌfɛl /

noun

  1. 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
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Word History and Origins

Origin of stokvel1

C20: of uncertain origin

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