July 23, 2019
CASHEW nut farmers in Tandahimba District in Mtwara Region have commended the government through Tanzania Agriculture Development Bank (TADB) for 1b/-loan sureties extended to them through Tandahimba Cooperative Bank (TACOBA).
Images by IT
TADB is implementing President John Magufuli's directive of wanting the bank to directly reach out to farmers as a way of boosting agriculture in Tanzania.
Speaking to farmers after handing over the cheque here recently, the Bank's Director of Finance, Mr Derick Lugemala said TADB has already started to reach the farmers through commercial and cooperative banks on loan sureties, the ultimate goal being to support the growth and development of small farmers.
"Our role as TADB is to boost agriculture development by providing farmers with financial support that will enable them to invest in agriculture and become successful," Mr Lugemala explained.
In the same vein of complimenting President Magufuli's directive, the bank has opened up zonal branches in Dar es Salaam, Dodoma, Mbeya and Mwanza with the major aim of getting closer to farmers.
"The government's objective and commitment in achieving the middle economy and industrial based economy is vivid, to achieve such goal is important and every institution should play its part, and we have already opened up branches as a way of making it easy for farmers to access our services," he said.
Earlier after receiving the cheque on behalf of TACOBA, the Tandahimba District Commissioner, Mr Sebastian Waryuba thanked TADB for extending services to farmers, saying that the move will contribute in economic development growth.
"Now farmers are seeing the importance of this bank because the loan sureties in their banks give them access to loans to purchase farm inputs, and this will result in increase in revenue collection in the district and elsewhere," he said.
Ms Zainabu Chivalavala, a peasant in the district, thanked the bank for bringing new hope to farmers.
"We congratulate and thank the bank for giving us new hope, now we are confident of efficient farming because we are sure of securing loans for purchase of farm inputs," she said.
Ms Chivalavala pointed out that the middle income and industrial economy goals were likely to be achieved by 2025 because the bank has been very supportive towards farmers.
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