NBC backs Samia’s agric financing agenda, hands over trucks to cooperatives

DAR ES SALAAM: The National Bank of Commerce (NBC) has reaffirmed its commitment to supporting the Government’s agricultural financing agenda by expanding access to financial solutions for farmers, women and youth while strengthening agricultural cooperatives across the country.

The commitment follows the Government’s allocation of 300bn/- to seven financial institutions, including NBC, to expand financing for women and youth engaged across the agricultural value chain.

Officiating the climax of the 2026 Nanenane Agricultural Exhibition at the Dr. John Malecela Grounds in Dodoma over the weekend, President Samia Suluhu Hassan, presented symbolic cheques totalling 300bn/- to representatives of the seven institutions. The initiative aims to widen access to finance and enable women and youth to participate more effectively in agriculture.

NBC Director of Business Banking, Mr. Jacob Nangi, who represented the Bank’s Managing Director, Mr. Theobald Sabi, said the bank was positioned to support the initiative through financial products tailored to the needs of its beneficiaries.

“While congratulating the Government and the Honourable President for this important step and recognising NBC as one of the key partners in delivering this initiative, I would like to reaffirm our readiness to contribute to its successful implementation in line with the Government’s objective of enabling women and youth across the country to participate fully in, and benefit from, the opportunities available throughout the agricultural value chain,” said Mr. Nangi.

He said NBC’s agricultural financing approach goes beyond conventional banking by addressing the broader financial and operational needs of farmers and other value-chain stakeholders.

“This reflects NBC’s strategy of going beyond conventional banking services for farmers. We are committed to providing solutions that address critical needs across the entire value chain from production and access to capital, to transportation and storage of produce, as well as improving farmers’ livelihoods and housing conditions,” he added.

The bank demonstrated this approach at Nanenane by financing transport equipment for agricultural cooperatives and supporting farmers with home improvement financing.

At the exhibition’s climax, NBC handed over 13 trucks to RUNALI and Lindi Mwambao Cooperative Unions in Lindi Region, bringing the total number of trucks provided to cooperative unions to 28. Earlier in the week, 15 trucks had been handed over to Tandahimba and Newala Cooperative Union (TANECU) and Kahama Cooperative Union (KACU).

The truck financing is intended to strengthen cooperatives’ logistical capacity, reduce transportation challenges and enable farmers to move their produce to markets more efficiently and cost-effectively.

NBC Head of Agriculture, Mr. Raymond Urassa, said 10 of the 13 trucks were allocated to RUNALI and three to Lindi Mwambao.

He said the financing would strengthen cooperative operations and help farmers retain greater value from their produce.

“Unlike the financing for the 15 trucks we recently handed over to Tandahimba and Newala Cooperative Union (TANECU) and Kahama Cooperative Union (KACU), the financing for RUNALI and Lindi Mwambao is worth more than 1.5bn/-. It is expected to improve the efficiency of cooperative operations and strengthen farmers’ ability to transport their produce to markets,” said Mr. Urassa.

Alongside the truck financing, NBC handed over a home improvement loan to Mr. Emmanuel Nyambi Masanja, a farmer and member of Kasandalala AMCOS in Ushetu, Kahama District. He is among 57 farmers who have benefited from NBC’s home improvement loan programme, which enables farmers to improve their housing conditions while aligning repayments with agricultural income cycles.

The handover was witnessed by Tanzania Cooperative Development Commission (TCDC) Registrar and Chief Executive Officer, Dr Benson Ndiege, who said the initiative was consistent with Government efforts to strengthen collaboration between financial institutions and cooperative societies.

Dr. Ndiege said cooperatives play an important role in connecting farmers with formal financial institutions and supporting their participation in the formal economy.

“This initiative demonstrates a broader approach to financial services for farmers, where a farmer is not viewed merely as a producer of agricultural commodities, but also as a customer with financial needs that extend to the wellbeing of their family and their overall quality of life,” he said.

He said the home improvement loan programme could also encourage more farmers to join cooperatives and access financing linked to their agricultural activities.

“Furthermore, through this home improvement loan programme, more farmers will be encouraged to join cooperatives so that they can benefit from this opportunity. They will also be assured of improved housing because the service is provided first, while repayment is made after the farmer has sold their produce,” said Dr. Ndiege.

Lindi Mwambao Chairman, Mr. Ismail Nalinga, RUNALI Chairman, Mr. Odas Odas Mpunga, and Mr. Masanja said stronger cooperative marketing systems had made cooperatives an important link between farmers and formal financial institutions.

Mr. Mpunga said improved marketing through cooperatives had increased confidence among financial institutions and facilitated farmers’ access to formal financing.

“The system of marketing produce through these cooperatives has enabled banks such as NBC to have a reliable foundation through which we can access their services, particularly financing, more effectively. As farmers, we are now closer to formal financial institutions than ever before,” he said.

The interventions link agricultural financing with practical needs across the value chain, including production, transport, market access and improved housing conditions for farmers.