For quite some time the trend of financial rotation and operations has been massive involving many people individually, groups and enterprises engage in facilitating the financial industry, this involves storage management, transactions, data entry system record managements and all sort of financial operation. The world has witnessed gross improvement of people and institutions that have engaged in this industry. The matter of fact is the financial industry grows faster and is much needed along side our communities over other industries. It cuts across in governmental activities, individual persons, and hence globally. In this way there is no way to deny that the facilitation of this industry now needs more careful management as it serves the huge number of people and the interests of many.
The relationship between National development and the growth of the Microfinance sector are intertwined in Tanzania for a very long period of time and that will be also for the long period to come. The reason behind is because Microfinance sector that operates under various Microfinance Institutions share a strong bond with communal based entrepreneurs who aim at growing and building their financial freedom. Now we see the main objective of the Microfinance sector ever since it was brought into existence is to allow its stake holders herein clients grow economically by raising their capital through their investments and monetary savings.
An investment is an asset or item acquired with the goal of generating income or appreciation. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. In finance, an investment is a monetary asset purchased with the idea that the asset will provide income in the future or will later be sold at a higher price for a profit. The goal of investing is to build wealth over time and/or to generate income from your investments to meet objectives. Investors purchase assets such as mutual funds, stocks, bonds, real estate and commodities with the expectation that the value of these assets will increase and that their financial goals will be realized.
Mojaloop is open-source software for financial services companies, government regulators, and others taking on the challenges of interoperability and financial inclusion. Its main purpose is to send digital payments to anyone, regardless of what kind of account or service they use.
As a project funded by The Bill and Melinda Gates Foundation, after every 10 weeks the Mojaloop team conduct a community meeting and invite stakeholders in financial services, mobile technology and payment industry to share ideas on the improvement of its codes by discussing on different business cases that could be. The seventh community meeting was held in Arusha, Tanzania. Singo Africa Limited was one of the invitees to join many other companies from outside the country that attended and some other companies from Tanzania that attended the meeting were Bank of Tanzania and Umoja Switch.