stokvel
Pronunciation: /ˈstɒkfɛl/
noun
- (in South Africa) a savings or investment society to which members regularly contribute an agreed amount and from which they receive a lump sum payment.
- (in South Africa) a society formed to hold regular parties that are funded by the members and generate profits for the hosts.
- a party held by a stokvel.
Origin:
from an Africanized pronunciation of stock-fair, denoting a periodical gathering of buyers and sellers of livestock