Amala Times

The world’s financial status is growing every day and advancing in almost from each aspect. This pushes the banks and financial institutions to expand their coverage of service to be broader than ever before. It I true that everybody in life is determined to grow, this is in all aspects be it economically or socially. But the fact is economic wise everyone looks forward to be potential in this area. This is due to the fact that over 96% of the worlds’ activities are controlled by the economic trend. This pushes everyone be it a businessman or not, an enterprise or not strive for economic or financial welfare. This is what invites banking and financial systems to provide assistance to this growing trend of economic growth, to accommodate the coverage of the transactions and financial management hence financial stability which is almost the dream of everyone.

The SACCOS are important institutions for providing financial services to marginalized communities and must be harnessed to help alleviate poverty in Tanzania and Africa in general. There is a need to build the internal capacity to meet the challenges that constrains their development. Unfavorable government policies, weak governance and management systems must be addressed. They should cooperate with the government and other development partners for better policy and legislature environment. Furthermore, in order to succeed to succeed in the new era of globalization (liberalized), the Savings and Credit Co-operative Societies (SACCOS) in different communities need to be people centered, be owned and controlled by members, should have a good leadership and management accountable to its stakeholders, and should be sensitive and responsive to the needs of its stakeholders and to changes in its internal and external environment.

Far from the development of the Microfinance policies is Tanzania there has been flexibility that enable timely operations of the microfinance institutions in accordance to the law governing time to time so as to ensure the effective operations of these institutions. The main objective of the National Microfinance Policy of 2001 is to establish a basis for evolution of an efficient and effective micro-financial system in the country that serves the low-income segment of the society and thereby contributes to the economic growth and improve people’s well being

Technological services are services designed to facilitate the use the use of technology by enterprises, institutions and users. Technology services provide specialized technology oriented solutions by combining the processes and function of software, hardware, networks, telecommunication and electronics.

Lately technology has been a fastest and easy way and solution to tackle the problems of its users. Moreover it cuts across many places and so to touch people who do not use it as well. This all prescribes the importance of technology is bringing closer solutions to our problems.

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