July 19, 2019
CASHEW NUT farmers in Tandahimba District in Mtwara
Region have commended the government through
Tanzania Agriculture Development Bank (TADB) for 1bn/-
loan sureties extended to them through Tandahimba
Cooperative Bank (TACOBA).
Images by IPP
TADB is implementing President John Magufuli's directive wanting the bank to directly reach out to
farmers as a way of boosting agriculture in Tanzania.
Speaking to farmers in question after handing over the cheque here recently, the Bank’s Director of
Finance, Derick Lugemala said TADB has already started to reach the farmers through commercial
and cooperative banks on loan sureties the ultimate goal 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,” Lugemala explained.
In the same vein the bank has opened up zonal branches in Dar es Salaam, Dodoma, Mbeya and
Mwanza with the major aim being to get closer to farmers.
them access to loan to purchase farm inputs and this will result into increase in revenue collection
in the district and elsewhere,” he said.
Zainabu Chivalavala, a peasant in the district in question thanked the Bank for the way in which it
has brought about new hopes to farmers.
“We congratulate and thank our agricultural development bank in the way in which it has given us
new hopes, now we are confident of efficient farming because we are sure of securing loans for
purchasing farm inputs,” she said.
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 to farmers.
TADB has proved worthwhile and has positioned itself as the bank committed to transform
agriculture and contribute dearly in government’s resolve of building medium income and industrial
base economy by 2025. It has won hearts of stakeholders.
Reporters
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