Describe what a stokvel is ?

A stokvel is a type of informal savings club or group that is common in South Africa and other African countries. Members of a stokvel contribute a fixed amount of money to a central fund on a regular basis, usually monthly. The money collected is then distributed to members on a rotating basis, with each member taking turns to receive the total amount contributed by all members. Stokvels are often used as a way for individuals to save money for specific purposes, such as emergencies, education, or special events like weddings or funerals. They can also serve as a form of social support and community building among members.