Finance Minister directs TADB to focus on govt priorities

DODOMA: Minister for Finance Khamis Mussa Omar has directed the Tanzania Agricultural Development Bank (TADB) to strategically invest in key government priority areas in agriculture to enable the country to achieve its long-term plans for the sector, which employs a large number of Tanzanians.

Ambassador Omar issued the directive on Sunday after visiting and inspecting TADB’s pavilion at the Dr John Samuel Malecela Grounds in Nzuguni, Dodoma, where the 2026 National and International Nane Nane Exhibition is taking place.

The bank, whose capital has increased significantly from 60bn/- to more than 400bn/- within a short period, thanks to substantial government investment, is the main sponsor of the 33rd exhibition, which is being held under the theme, “Identify the Market, Increase Productivity, Implement Vision 2050.”

As Dira 2050 seeks to enable Tanzania to achieve a one-trillion-dollar economy, the finance minister told reporters that the country’s economic transformation depends heavily on the performance of the agriculture sector, including crops, livestock, fisheries and forestry products.

The Minister said the government is throwing its weight behind the sector because its performance will ultimately help eradicate poverty among Tanzanians and increase per capita income to $7,000 per annum.

He hailed the creativity of entrepreneurs whose products are being showcased at the venue, saying they were of good quality but had not received sufficient recognition in the marketplace.

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Ambassador Omar therefore advised the Ministry of Agriculture to help promote such products while empowering producers to increase production volumes and sustain the market.

“I would like to congratulate the Ministry of Agriculture for a job well done. Let us work closely to bring more development to the sector,” he noted.

The finance minister said the livestock sector faces financial challenges, with more funds needed to improve its efficiency.

“As the government, we need to inject some money into the livestock sector, and the good thing is that the sector is productive. If you inject some money, the return on investment comes quickly,” he added.

He said the fisheries subsector is performing tremendously well, with more people becoming motivated to engage in the sector, adding that it needs special attention to ensure Tanzanians benefit from it in terms of income generation and food security.