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We are very happy and pleased to successfully release another major version of our awarding Amala Core Banking system for FinTech, especially in financial inclusion of the unbanked and underbanked community in Tanzania a platform based on Apache Fineract and Mifos.

In this release of Amala we have shipped in the following key new features among others:-

In a competitive setup, by definition, many firms contend for a limited market share. In the financial sector, in particular, competition greatly affects consumers’ wealth and financial soundness of banks (Bikker and Bos, 2005). The competition also affects the quality and diversity of products and productive efficiency of financial institutions (Claessens and Laeven, 2005). In the globalized microfinance industry, where competition has become increasingly severe, especially among the MFIs in Tanzania and East Africa at large.

Technology is an important driver in the maturing microfinance industry. Microfinance providers, microfinance institutions (MFIs) of all tiers, provide financial services to the poor that are critical for eradicating poverty and promoting economic development in developing nations.

Tanzania has recently announced its National Budget of the financial year 2020/21 with which it touches many areas whereas the financial sector is not an exception of the course. The budget that gives and shows the roadmap of the financial sector in the financial year 2020/21.