Displaying items by tag: CoopTech
Amala Core Banking is a software platform that has automated banking operations of Microfinance and SACCOS (Microfinance and SACCOS operations are banking operations at small scale) provided by Singo Africa Limited on our mission to improve, grow and transform businesses of our fellow African’s and the world at large.
On serving Tanzania as a primary market where the company is based, Singo Africa Limited is ensuring their clients also comply with the regulations that govern them, to do that, we have automated all the areas that relate with their operations in terms of managing their banking information and that required by the regulations.
In this article we will elaborate what the regulation requires and how the Amala Core Banking system support the regulation.
Tanzania is undergoing different economical and financial tends as the country, one which are effects of several adjustment of the national economic situation. These trends and adjustments do not only concern the government alone, it extends further to various sectors that are reliable to the contribution of the national economic growth. The said means different institutions are part and parcel of these adjustments as they either affect or are affected by the economic structure of the country.
- cooperative societies
- SACCOS Management System
When you speak of the future of microfinance, we hope a future of progress in innovation. The progress that can take one of two forms. Horizontal or extensive progress means copying things that work from lower to higher. Horizontal progress is easy to imagine because we already know what it looks like. Vertical or intensive progress means doing new things, that is; going from nothing to something (0 to 1). Vertical progress is harder to imagine because it requires doing something nobody else has ever done.
The financial sector in Tanzania has faced the major transitions that pushed the change in operations. Financial activities today are not as they used to be before, amongst many reasons one of the biggest and crucial component is emergency of the so called financial technology or as famously known as Fintech.