THE Private Agricultural Sector Support (PASS) Trust emerged the best institution among Non-Governmental Organisations for supporting the agricultural sector in the country during the agriculture exhibitions, Nane Nane 2020.
The Trust whose main objective is to facilitate access to finance through credit guarantee schemes with commercial banks covering the entire agribusiness value chain beat other institutions to emerge the first winners in the NGOs category. They were closely followed by Tanzania Horticulture Association (TAHA) in the second position and Tanzania Business Women Association (TABWA) in the third position.
“We accept this award and recognition as the best institution in our category and say that this win is for all of us including our agribusiness entrepreneurs and stakeholders who have made it possible for us to serve the country through credit guarantee” PASS’ Managing Director, Nicomed Bohay said.
In the same breath, PASS which participated in Nanenane exhibitions in Simiyu, Mbeya and Morogoro also emerged the winner.
‘This win gives us more strength and the resolve to work even harder and ensure we reach as many beneficiaries as possible in our quest to improve lives through agribusiness transformation. This is indeed a show of the confidence that farmers and indeed the country have bestowed on us “Adds Mr Bohay.
While at Nyakabindi grounds in Simiyu, the Prime Minister Kassim Majaliwa expressed satisfaction with the work done by the institution in offering credit guarantee to agribusiness entrepreneurs in Tanzania.
The premier called on agricultural entrepreneurs to take advantage of the PASS services to improve agricultural production.
“We have many institutions that we can use in this country to support us to improve production. PASS for instance is here to stand with entrepreneurs who need agricultural financing.
They will support you through credit guarantee to access funds in the banks” Said Majaliwa.
In reaching out to its beneficiaries in the entire agricultural value chain spread across Tanzania, PASS offers a partial credit guarantee cover to collaborating banks as a means of topping up inadequate collateral to enable clients to get financing. PASS provides banks with a 60 per cent guarantee and up to 80 per cent for women of the loan amount.
Until March 2020, a total of 36,007 projects worth 916.4bn/- had been approved and guaranteed by PASS, with at least 1,196,891 agribusiness entrepreneurs, in which more than 45 per cent benefiting from this guarantee were women.
“I am very happy to be associated with PASS Trust. They are the reason why I have come here for the 8 days to testify to the world that I benefited and I am successful because I chose the Pass Trust Credit Guarantee,” noted one beneficiary Kaswahili Kaswahili.