NBC, Mbogo Ranches partner on livestock loans

COAST REGION: The National Bank of Commerce (NBC) has forged a strategic partnership with Mbogo Ranches to empower livestock farmers across the nation by offering favorable loan packages for the acquisition of high-quality livestock breeds, including cattle, goats, and sheep cultivated at Mbogo Ranches.

The initiative aims to alleviate the financial burden faced by farmers struggling with the steep costs associated with sourcing the premium breeds.

The partnership agreement was formalized on Sunday during the International Livestock Exhibition of Mbogo 2025, a two-day event held at the Ubena Zomozi Exhibition Grounds in Chalinze, Coast Region.

Elibariki Masuke, Director of Retail Banking at NBC, represented the bank’s Managing Director, Theobald Sabi, while Naweed Mulla, Director of Mbogo Ranches, stood for the company during the signing ceremony.

Addressing attendees, Mr Masuke emphasized that the initiative epitomizes NBC’s commitment to fostering growth within the livestock and agricultural sectors, underpinned by inclusive economic practices that leverage formal financial services.

“This agreement facilitates opportunities for livestock farmers nationwide who visit Mbogo Ranches and express interest in any breed—be it cattle, goats, or sheep. They can easily reach out to any NBC branch to access loans, repayable in manageable installments at the same rates offered on the farm,” Masuke elaborated.

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This collaboration is expected to be a game-changer in Tanzania’s livestock sector, making high-quality livestock more accessible than ever before. Mr. Masuke noted that easing access to modern livestock breeds will contribute significantly to transforming agricultural practices.

In response, Mr. Mulla praised the bank for taking this significant step forward, highlighting that these loans will provide crucial assistance for farmers who have been unable to afford the high costs linked to purchasing livestock breeds, primarily due to expensive care and transportation from abroad.

“Even with our investment in modern, premium livestock breeds, many farmers have found it challenging to make these purchases and have had to rely on indigenous breeds, which often yield insufficient production. Through this unique agreement, many farmers will finally have access to loans that will help them finance these costs and ultimately own high-quality livestock. We are immensely grateful to NBC for their support in this endeavor,” said Mr. Mulla.