stokvel

Definition

A form of informal community savings or investment scheme common in South Africa, where members contribute a fixed amount of money regularly to a pool.

Etymology

Originating in South Africa in the early 20th century, the term is believed to be derived from 'stock fairs', which were social events where farmers would gather to trade livestock.

In the news

The article uses the term to describe an immigration-focused group, mockingly comparing their collaborative efforts to the way stokvel members pool resources together.

Idiocy is no longer the exception, it’s official policy in government

Daily Maverick

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