Biilatti

Biilatti is a term that refers to a specific cultural practice primarily found among certain communities in West Africa, particularly in countries like Senegal and Gambia. It is a form of traditional social organization and mutual assistance, often centered around collective savings and investment. The core of biilatti involves a group of individuals, typically friends, family members, or neighbors, who agree to contribute a fixed sum of money on a regular basis, usually weekly or monthly. This collected sum is then given to one member of the group in rotation. This allows each member to receive a lump sum of money at a predetermined interval, which can be used for various purposes such as starting a business, covering educational expenses, or making a significant purchase.

The system operates on trust and a strong sense of community responsibility. Members rely on each other to uphold their commitments, as defaulting on payments can disrupt the entire cycle. Biilatti serves not only as a financial tool but also as a mechanism for strengthening social bonds and fostering economic empowerment within the community. Variations of this practice exist in many cultures worldwide under different names, often referred to as rotating savings and credit associations (ROSCAs). The specific name "biilatti" is indigenous to the communities where it is practiced.