“The aim of micro-finance is to build financial sectors that are closely interconnected with the local economy, thus facilitating lending to micro and small entrepreneurs, enabling payment systems to be established and, in particular, creating new savings opportunities for private households. Micro-finance is considered a strategic initiative by most emerging countries especially around Africa and Central Asia with financial inclusion becoming a byword for growth and social development with MFIs and Payment infra-structures the preferred mechanism to affect this change. Accordingly, we believe that the sector is poised for large scale global growth in the coming years. Also, the existing industry setup is undergoing significant change as it comes under regulatory supervision by the various local regulators. On the other hand, a major obstacle to sustaining this growth will be the ability of MFIs and other financial institutions to invest in the infra-structure and technologies that must be put in place to support the potential growth.
In this sense, Nawayah was established with a clear vision to serve micro-finance institutions with advanced cloud based solutions that would help achieve significantly higher growth margins and provide unique propositions to the market. This will not only help the institutions, but is intended to improve this layer of the economy.
-Hazim Madany-
