Financial institutions urged to back young agripreneurs
DODOMA:THE government has called on financial institutions, local authorities and the private sector to increase support for young agribusiness entrepreneurs, saying investment in the sector can create jobs, raise incomes and accelerate economic growth.
The call came as 40 young entrepreneurs from Dodoma and Singida received grants totalling 40m/- under the second phase of the Generation Food Accelerator (GFA), implemented through the Vijana Kilimo Biashara project (VKB).
Closing the programme’s second phase in Dodoma yesterday, Deputy Permanent Secretary in the Ministry of Agriculture responsible for Irrigation and Agricultural Mechanisation, Eng Athumani Kilundumya, said young people need access to capital, skills, technology, business advice and markets to turn agricultural opportunities into viable enterprises.
He said agribusiness extends beyond crop production to include seed production, mechanisation services, supply of farm inputs, produce collection, storage, processing and marketing.
“Opportunities are not found in farming alone. They are also available in seed production, machinery services, input supply, produce collection, storage and processing.The entire value chain concerns us,” he said.
Eng Kilundumya said agriculture contributes about 26.4 per cent of the country’s Gross Domestic Product (GDP) and supports more than 65.5 per cent of Tanzanians through employment, making young entrepreneurs important to the sector’s growth.
He urged banks and other financial institutions to improve financial literacy and make loans more accessible to young people with viable business ideas.
He also called on local government leaders and community development officers to help young people access loans set aside for women and youths, warning that bureaucratic procedures could discourage applicants.
“Let us not remain young people of Instagram and Facebook; let us be young people of action,” he said.
Under the second GFA phase, organisers received 731 applications and selected 100 entrepreneurs, including 60 from Dodoma and 40 from Singida. Forty beneficiaries received grants worth a combined 40m/- to establish or expand their businesses, while 10 others received special awards for innovation, resilience and business growth.
The project is implemented by Rikolto in partnership with ts prime partner, the World Food Programme (WFP) and funded by the Mastercard Foundation. It targets young people aged 18 to 35 in sorghum, sunflower, vegetable and fruit value chains.
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WFP Supply Chain and Logistics Officer Isaac Mathe said the programme has helped young entrepreneurs develop their businesses through mentorship, advisory services and connections with strategic partners.
He said women accounted for 53 per cent of the 100 participants, while 38 businesses have formalised their operations through registration, licensing and tax compliance. The programme has also contributed to the creation of 43 jobs.
Speaking on behalf of the Rikolto East Africa Director, Project Coordinator Mr Shukuru Tweve said continued cooperation among the government, financial institutions, the private sector and development partners is essential to ensuring young people could access capital, markets and technology.
“This programme aimed to build resilient food systems in which young people were recognised not only as beneficiaries but also as innovators, investors and leaders of economic transformation,” he added.
