Agriculture bank tags isle’s potential agricultural projects


IN a bid to boost agriculture production in Zanzibar, the Board of Directors of Tanzania Agricultural Development Bank (TADB) have expressed interest in identifying bankable projects that would strengthen the Isle’s agriculture endowment of untapped arable land due to lack of capital and access to credit.

The TADB Board of Directors along with Bank’s management visited Zanzibar purposely to identify projects that need an extra financial and non-financial support.

During the visit the team agreed that the Mtakata Commercial Farm in Pemba and other similar big projects should be prepared to make them bankable and submitted to TADB for financing consideration.

The Head of delegation, Ms Rehema Twalib said the team was in isle to identify areas where support is still needed. She said the bank is ready to offer non-finance services such as business case development, market information, business management and good agricultural practices (GAP) training as well as contract negotiation in the Isle.

While in Zanzibar, the team met the Zanzibar State Trading Corporation (ZSTC), which is one of the beneficiaries of TADB. ZSTC has been approved by Zanzibar government to buy agricultural products such as Cloves, Copra, Sea–shells, Sea weds, Chilies in the isle for sell abroad.

Ms Twalib said TADB cooperation with ZSTC is expected to increase and thus boost agriculture related activities in the isle. “We expect this collaboration with ZSTC to increase and enable it to achieve various goals by transforming and modernising agriculture sector in Zanzibar,” she said.

She added that the bank will continue to engage with ZSTC and other partners in the isle to reach various farmers for both financial and non-financial support.

The ZSTC Acting Managing Director, Mr Ussi Mohamed Juma said his office is committed to promote clove production and other high value agricultural products through increased quality and quantities.

On his part, Bank’s Chief Executive Officer, Mr Francis Assenga said that their trip to Zanzibar has enabled them to identify collaborative and strategic partners and smallholder farmer organisations for agriculture development in line with the national agriculture policies and strategies for the development of the agricultural sector in Zanzibar.

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