summarise:

Question

The first type of stokvel we would like to refer to is the ‘gooi-gooi’. The term ‘gooi-gooi’ literally means to ‘throw’ or ‘lump’ money together. It is a small-savings club that exists for a relatively short period. Members’ contributions are sometimes quite small, for example R200 per month, but a recent field study has shown that the contribution in some types of ‘gooi-goois’ may be as high as R1 000 per week. The ‘gooi-gooi’ may be compared to savings accounts held by banks.

Answer 1

The 'gooi-gooi' is a type of stokvel, or savings club, where members collectively contribute money for a short period. Contributions can vary, typically starting around R200 per month, but can reach up to R1,000 per week in some cases. This informal savings method can be likened to traditional bank savings accounts.