stokvel

stokvel
the informal gathering of savings amongst a group of people, which is handed out to each person, one after the other

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  • Stokvel — Stokvels are clubs or syndicates serving as rotating credit unions in South Africa where members contribute fixed sums of money to a central fund on a weekly, fortnightly or monthly basis. Each month a different member receives the money in the… …   Wikipedia

  • stokvel — …   Useful english dictionary

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