Without Financial Institutions

Angola, a developing country located in the southwest of Africa. It is bordered on the north by RDC, east by Zambia, south by Namibia and West by the Atlantic Ocean. Angola is a country mainly known for its many resources, such as oil, which contributes heavily to the country GDP; diamonds and many other resources. Angola has regions that have very fertile soil, allowing people to have fresh products in the market.
Moreover, Angola is a country that is growing, while some entities use the financial institutions to fund their investments, and help them expand their business, there are others who expand their business without the help of the financial institutions. Those outside the wall of the financial institutions use a system called Kishikila. It is a system that allows them to have access to money without paying interest. Sounds good?
In fact, for the person getting the money it is very good. This system works this way: there are about 10 people, and they all make the agreement to pay a certain amount of money, let assume $200 dollar, at the beginning of every month, and since there are about 10 people, this process could last 10 months. So, at the beginning of every month, it is everyone responsibility to give the $200 do the treasurer, and according to the agreement, there is an order of who is going to receive the money first, and who is the last person. At the end of every month, they all get $2000 to invest in whatever they want.
Since they know that there might exist a risk, participants can be part of 2 or 3 Kishikila, this way they can avoid the risk of not being able to pay for the following month.
The advantages of the system are the chance to have more money for a short period of time; opportunity to expand your business and take the opportunity that is in sight.
The disadvantages of the system are associated with inflation, lack of enough time to make the payment for the following month, lack of document to hold people accountable for the payments. But this is a system that helps many families that do not use the financial market to get loans.