Displaying items by tag: Technology

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.

Published in Amala Times

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.

Published in Amala Times

Loan management software is a cloud based end to end lending application used to improve the quality, turnaround time and service for end-customers. It enables banks to improve the agility, transparency and efficiency of their lending solutions whereas, Loan management system means an innovative, turn-key, end-to-end securities-based lending platform that connects lenders seeking high-quality, collateralized loans with borrowers requiring convenient access to credit.

Published in Amala Times

In December 2018, the parliament of the United Republic of Tanzania enacted a Microfinance Act which seeks to clarify the framework under which microfinance institutions are governed, regulated, and operate. The Act provides for licensing, regulation and supervision of a highly segmented microfinance sector in Tanzania Mainland and Zanzibar. It concretized a commitment made by the Ministry of Finance and Planning and the Bank of Tanzania (BoT) to transform the microfinance sector through better integration and regulation. This was to be realized through the National Microfinance Policy 2000 (NMP 2000), however the implementation of the policy was unsuccessful, leading to its revision in 2017. The 2018 Microfinance Act was enacted “in order to operationalize NMP 2017” whose main objective was to create an enabling environment for the microfinance sub sector to contribute to poverty reduction.

Published in Amala Times
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