Displaying items by tag: Mfumo

Sunday, 24 January 2021 20:52

SACCOS and Microfinance Destiny in Tanzania

When we think of the future, we hope a future of progress. 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).

Published in Amala Times

Days are moving, people and their economic needs changes hence the economic demands must change too, to suffice the contemporary days that are overtaken and are being occupied by the technological innovations of which affects almost every sector and area.

Published in Amala Times

As technology and digital services continue to ingrain themselves into more aspects of our lives, the financial sector has not been immune. New technology has given way to new services and with new services comes disruption of the old.

Whether it’s services such as M-PESA, TIGO PESA, AIRTEL MONEY; or digital banks such as SIM BANKING’s “First Direct,” digital transformation of the financial industry is ongoing. Customers are gravitating more towards digital experiences and digital products. At the same time, providers within the industry are rethinking the playbook.

Published in Amala Times

Microcredit is a common form of microfinance that involves an extremely small loan given to an individual to help them become self-employed or grow a small business. These borrowers tend to be low-income individuals, especially from less developed countries (LDCs). Microcredit is also known as "microlending" or "microloan."

‘SIMPLE FACTS’

  • Microcredit is a method of lending very small sums to individuals to start or expand a small business.

  • Microcredit borrowers tend to be low-income individuals living in parts of the developing world; the practice originated in its modern form.

Published in Amala Times
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