Zanzibar: FARMERS have been encouraged to make the best use of the Tanzania Agricultural Development Bank Limited (TADB), for them to have access to loans.
TADB Zanzibar Branch Business Development Officer, Ms Ashura Akimu said during an engagement with farmers at Nanenane grounds, Kizimbani in Dole, Unguja Central district that bank will also help them to have proper advice on how they can access funds to invest more in agriculture.
“If you are engaged in farming, livestock keeping, or fishing, TADB is your bank. Join to become a member to benefit from different services for your development,” Ms Akimu said.
TADB was established under the Company Act, 2002 CAP 212 in September 2012 and opened its branch in Zanzibar last June.
She explained that the bank provides loans, welcomes farmers, livestock keepers and fisheries in Zanzibar to apply for loans.
According to her, many of them are not making progress because of lack of capital that will allow them to move from subsistence farming to commercial farming.
“TADB has seen many opportunities in Zanzibar, prompting us to provide loans to farmers in the Isles,” said Ms Akimu, adding that they are ready to provide loans at only 10 per cent interest rate.
“We have no strict lending conditions, anyone can borrow on her/his/group and for own needs. The good thing is that interest rates are low compared to other banks and financial institutions,” Ms Akimu said.
Zanzibar Agriculture and Veterinary Expert Salum Rehani said there were four challenges in four areas, including difficulties to access agricultural development capital- especially for horticulture, livestock and other commercial crops; proper planning; lack of skills; and lack of confidence.
Mr Rehani said in overcoming the challenges, they provide special training to farmers, pastoralists/livestock keepers, and fishers with the aim of helping them make profits, reduce losses, as well as connecting to local and foreign markets.
One of the farmers, Ms Asha Mshenga Jecha expressed happiness to get connected to the TADB because it would help them find solutions to challenges they face.
She said the bank will help get farmers trained, and also help find more opportunities including capital to establish an industry that will add value to livestock products.
