Displaying items by tag: FinancialInclusion
The year 2020 has taught a lot to the financial sector and financial institutions. One of the biggest and the major lesson that the financial institutions has learnt in the year 2020 is the importance of the Digital platforms in execution of their activities. Due to the outbreak of the Covid-19 pandemic many of the activities that involves physical meetings were banned as part of precaution against the spread of the pandemic Covid-19.
Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. These include banking, loan, equity, and insurance products.
The world is today witnessing the great economic growth due to the increase of population and modification of technology (FinTech). The financial markets experience the numerous increase of innovation that forces the economic trends to change globally. Tanzania is not an island on its own it share these global economic impacts.
NMP 2017 (National Microfinance Policy 2017) will create an enabling environment that promotes the development of appropriate and innovative micro finance products and services to meet the real needs of the low income segments so as to enhance economic growth and accelerate poverty reduction.