Tanzania: New Tadb Md Vows to Take Agriculture to New Heights

Tanzania: New Tadb Md Vows to Take Agriculture to New Heights

Struggling smallholders in the agriculture, livestock and fisheries sectors have started the new financial year and new farming season with positive expectations. They have heard government promises.

They have heard pledges from state and non-state actors on how to lessen their plight. Pledges to solve challenges and problems standing in the way of increasing productivity in agriculture, livestock and fishers were made during the just-ended budget session.

Indeed a strategic fuel levy has been introduced to collect money for rural roads and improve provision water to rural communities.

President Samia Suluhu Hassan has repeatedly said that money collected from the levy will be used for that purpose alone. People living in rural areas wait to see roads being built or up-graded so that they can take their produce to markets with ease.They also wait to see potable water flowing within reasonable distance.

Tanzania’s farming season, often referred to as growing season, starts annually on the first day of May.

This year, it started on Saturday 1, 2021.

Every year, before the season starts suppliers of farm inputs, implement and building contractors fight for new business arrangements or renew old ones.

Banks revisit their books, scrutinise repayment of loans by people in the farming community and make requisite decisions. Banks that have chosen to finance agriculture play an important role in enabling farmers to meet their financial needs.

The Tanzania Agricultural Development Bank (TADB) is a state bank charged with the task of ensuring finance flows into the farming community. By the end of last month the bank had disbursed some 300 billion/-, in form of soft loans to the agriculture, livestock and fisheries sectors.

In an effort to strengthen and transform value chains, primarily in the agriculture and livestock sectors, until the end of June in the bank had disbursed 246,488,453,466.38/-.

On August 6, this year, President Samia Hassan appointed Mr Frank Nyabundege, the new managing director of the TADB, replacing Mr Japhet Justine.Before his new appointment, Mr Nyabundege was the Managing Director of the Lake Oil Tanzania Limited.He has 20 years experience in the banking sector, having also served as the TIB Corporate Bank Tanzania Limited Managing Director.When Mr Nyabundege addressed workers at the TADB headquarters in Dar es Salaam he renewed the bank’s determination to serve smallholders in agriculture, livestock and fisheries, vowing that this time smallholders will be served with new vigour.He said he will build on what has already been achieved to further prove to […]

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