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.
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.