Tanzania injects 300bn/- to boost agricultural productivity

Dodoma: The government has increased investment in the agriculture, livestock and fisheries sectors by expanding access to financing for young people, women and entrepreneurs as part of efforts to boost productivity across the sectors’ value chains. The development was announced today during the climax of the National Farmers’ Day (Nanenane) celebrations and exhibitions in Dodoma, where President of the United Republic of Tanzania, Dr Samia Suluhu Hassan, handed over a symbolic cheque worth Sh300 billion to seven banks that will implement the financing programme. The participating banks are CRDB, Stanbic Bank, National Bank of Commerce (NBC), Tanzania Commercial Bank (TCB), Azania Bank, Cooperative Bank and Tanzania Agricultural Development Bank (TADB).

The programme is part of the government’s strategy to increase resources allocated to the sectors, alongside increased sectoral budgets and efforts to strengthen the capital base of TADB to provide loans for agricultural activities. President Samia said the government had increased the bank’s capital for agricultural activities, stressing that the investment should translate into increased productivity, production, access to markets and higher incomes for Tanzanians. “We want to see this efficiency delivering direct results; we want to see farmers, fishers and livestock keepers benefiting where they are and increasing their incomes,” President Samia said.

She added that the government would continue seeking domestic and international markets while expanding private-sector participation in production, investment and value addition. In another development, President Samia directed the National Agricultural Extension Services Agency (NAESA) to strengthen the provision of services to producers and complete digital systems for managing agricultural extension services across the country. She also stressed the importance of production being guided by market information, citing tobacco, coffee and marine products as examples of commodities whose production has been driven by access to global market information.

For his part, Minister for Agriculture Daniel Chongolo said the government had begun preparations to establish strategic maize and rice trading centres in four areas across the country to strengthen markets, improve storage and reduce post-harvest losses. He added that the government had reached a trade agree…