TANZANIA Agricultural Development Bank (TADB) has provided 696m/-loan to Njombe Milk Factory to support a revival programme of the milk processing plant in Njombe Region.
The Minister of State in the Prime Minister’s Office (Investment), Ms Angela Kairuki, presented a dummy cheque of the amount on Wednesday to Njombe District Commissioner (DC), Ruth Msafiri to launch additional rescue package of the milk processing factory.
Commenting, the Minister commended the bank for its continued support in facilitating payments to farmers, rehabilitating the factory’s infrastructure and managerial assistance.
Ms Kairuki urged the bank to continue supporting the factory to ensure that it reaches its full capacity utilisation of 20,000 litres per day from the current 3,000 litres.
On her part, TADB’s Acting Director of Credit and Business, Wende Mengele, said farmers should be assured that TADB is committed to supporting them.
She said the Njombe Milk Factory project was on a growth trajectory would soon start paying dividends to its shareholders.
Ms Mengele urged the management of the factory to work diligently to develop and roll out new products, which will easily be sold to the market given Njombe’s strategic advantage of serving Lindi, Mtwara, Ruvuma regions and regional markets of Malawi and Mozambique.
The main shareholders of Njombe Milk Factory are Njombe Livestock Farmers Organization (NJOLIFA), which owns 20 per cent shares, Njombe Local Government Authority 19 per cent stake and the Roman Catholic Njombe 9.7per cent.