TBA, TPSF pledge to continue supporting growth of Tanzania’s agriculture sector

The Tanzania Bankers Association has pledged to continue supporting growth of Tanzania’s agricultural sector through provision of value-added banking services as part of its commitment to support unleashing of the sector to its full potential.

Speaking to journalists shortly after the launch of the Government’s Building Better Tomorrow (BBT) Program, a Youth Initiative for Agribusiness (YIA) in Chamwino District, Dodoma Region that seeks to promote Tanzanian youth engagement in agribusiness, the TBA Chairperson Theobald Sabi said the banking sector is committed to support the BBT Program.

“The banking sector will continue working closely with all stakeholders including the Government to ensure the success of the BBT Program,” Sabi said.

He noted that already CRDB Bank has already issued a 3.4bn/- loan to CHABUMA AMCOS adding that other banks including NMB Bank, TADB Bank, NBC, Azania and Equity Bank are also continuing with various initiatives to support the BBT Program.

He noted that the banking sector has already provided financial literacy to over 800 participants who will be taking part in the BBT Program.

“So many banks have already opened windows to support start-ups in Tanzania’s agriculture sector by providing loans with flexible terms and conditions to youths and women across the country,” she said.

On her part the Tanzania Private Sector Foundation (TPSF) Board Member Jacqueline Mkindi during the event pledged to continue supporting efforts to create a conducive environment for investors in the agriculture sector value chain.

“As a private sector umbrella body, we will continue luring potential investors at both small and large in the country’s agriculture sector to come and tap into those opportunities,” she said.

She noted that with the deliberate and strategic direction Government is undertaking to unlock the potential of the agricultural section, Tanzania can be a food basket not only for Africa but the world as a whole.

“With the ongoing efforts in revamping the agriculture sector, we believe there will food security in Tanzania. We will continue partnering with the Government to ensure realization for this ambitions dream,” she added.