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Gladys

Choosing the Right Loan Management Software (LMS)

In the dynamic landscape of financial services, selecting the appropriate loan management software (LMS) can significantly impact the efficiency, profitability, and customer satisfaction of your lending business. Whether you operate a traditional bank, a credit union, or a fintech startup, the right LMS can streamline operations, enhance compliance, and provide crucial insights for decision-making. Understanding […]

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Benefits of Microfinance (MFI)

Microfinance, a powerful tool in the department of financial inclusion, has revolutionized the landscape of economic empowerment across the globe. By providing small loans, savings accounts, and other financial services to those traditionally excluded from mainstream banking, microfinance institutions (mfi) have catalyzed transformative changes in communities worldwide. This article delves into the numerous advantages of

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Best Microfinance Management Softwares in Kenya

Microfinance institutions (MFIs) in Kenya are increasingly relying on advanced management software to streamline operations and improve efficiency. Choosing the right software solution can significantly impact an MFI’s ability to manage loans, track client data, and comply with regulatory requirements effectively. Here, we explore the top microfinance management software options tailored for the Kenyan market.

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Challenges Facing SACCOs

SACCOs play a crucial role in promoting financial inclusion, particularly in developing economies. They empower members by providing financial services like savings facilities, credit opportunities, and other financial products tailored to their needs. However, despite their significant impact, SACCOs face several challenges that hinder their effectiveness and sustainability. Regulatory Compliance and Governance Issues SACCOs must

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The Future of SACCOs in Kenya

SACCOs have played an essential role in the country’s financial landscape, particularly in empowering retail savers and providing accessible credit facilities. However, as the financial sector evolves in response to technological advancements and changing consumer behaviors, SACCOs face a myriad of challenges and opportunities in shaping their future trajectory. This piece explores the changing landscape

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Benefits of joining a Chama

Joining a Chama, also known as a savings group, can offer several benefits. Here are some of the benefits of joining a Chama: 1.Joining a chama helps you develop financial discipline: By joining a Chama, you commit to making regular contributions or savings. This can help you develop financial discipline and a habit of saving

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Enhancing Efficiency in Savings and Credit Cooperative Societies (SACCOs)

SACCOs play an important role in delivering financial services to their members, especially in under served communities. However, like any other financial institution, SACCOs find it difficult in maintaining efficiency and sustainability. In this article, we explore strategies to improve efficiency in SACCO operations, which can lead to better member satisfaction, increased financial stability, and

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