TANZANIA Agricultural Development Bank (TADB) has issued a 4.5bn/- loan to Meat King Fish Distributor factory.
The loan, according to the Minister for Livestock and Fisheries, Mr Luhaga Mpina, is meant to promote the welfare of farmers, herders and fishermen.
The minister also pledged more support for the factory that is touted to raise the number of employment in the sector and value addition of pastoralists’ products.
"Please (TADB) continue supporting this factory because when it performs well we know new jobs for stakeholders in the agriculture, livestock and fisheries are being created and old ones are being strengthened."
Mr Mpina said when he toured the factory, accompanied by the bank’s acting Director for Loans, Mr Jeremiah Mhanda.
The minister said TADB has done a commendable job in helping farmers, fishermen and livestock keepers, calling for more support from the bank to stakeholders in the three sectors to improve the crop value chain in the three sectors.
The minister said speaking about the country’s envisaged industrial economy would largely be empty talk if the three sectors were not strengthened.
Mr Mhanda said the TADB would continue to work very closely with the factory adding that the company was producing 400 different products mainly marketed in Arusha and Dar es Salaam regions.
Mr Mhanda said the meat company suffered business loss between March and June due to the Covid-19 pandemic after the government ordered closure of hotels and other facilities in the hospitality industry.
He said the company was currently working hard to raise production in order to meet clients’ demands following reopening of the hotels and restaurants after successful victory over the pandemic.
