Definition of stokvel in English:

stokvel

noun

  • 1(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.

    • ‘According to the Department of Public Enterprises, historically disadvantaged individuals and stokvels will get preference to buy shares in terms of the offer.’
    • ‘The Democratic Alliance urged the PIC to use ideas it had submitted to create a share distribution mechanism targeting stokvels and burial societies representing 2,5 million and eight million South Africans respectively.’
    • ‘He says because of the interest rates, he is no longer committed to the Stokvel group he belongs to.’
    1. 1.1 (in South Africa) a society formed to hold regular parties that are funded by the members and generate profits for the hosts.
      • ‘Others, such as stokvels, youth and women's organisations, show increased levels of membership.’
      • ‘But perhaps the most common form of stokvel amongst both rich and poor were weekend parties for which entry sums were paid.’
      • ‘Among adults, stokvels (voluntary or common-interest associations) provide financial assistance, friendship, and recreation.’
      • ‘The husband on the other hand belongs to an all-male stokvel, devoted to the pleasurable and good things in life.’
      • ‘Interviewers found that informal leadership networks of stokvels and migrant homegroups were also important in mobilization.’
    2. 1.2 A party held by a stokvel.
      • ‘Some 22% attended or hosted traditional ceremonies in the past month and 21% attended a stokvel, umgalelo or burial society in the past month.’
      • ‘The wife attends a ‘kitchen party’ - a stokvel - with a group of neighbourhood women.’

Origin

From an Africanized pronunciation of stock-fair, denoting a periodical gathering of buyers and sellers of livestock.

Pronunciation

stokvel

/ˈstɒkfɛl/