THE government has called on the Tanzania Agricultural Development Bank (TADB) to continue encouraging Tanzanians to invest in agriculture, livestock and fisheries in order to stimulate the country’s economic growth and development.
Finance and Planning Deputy Minister Engineer Hamad Masauni said that adding: “Although the bank has been performing well, there was a need of educating the public on opportunities available in agriculture, livestock and fisheries which will enable them to earn income. “Most of wananchi have been investing their money through bond system in various banks, whose profit is taking too long to be realized than when the money is invested in agriculture.” He said that TADB has a huge task of continuing to educate the public on the importance of investing in agriculture, livestock and fisheries value chain to make them believe that, when the sectors are fully exploited their results will have a significant impact in promoting economic growth at individual and national levels.
“The slogan that, ‘agriculture is bankable’ should reach majority of citizens so that they can change their mindset of investing in bonds and start investing in agriculture, livestock and fisheries. He said that the awareness and guaranteed loans in agriculture activities will stimulate many people to invest in the sectors which produce raw materials used in local factories.
Meanwhile, Eng Masauni confirmed to have received a report on the bank’s performance noting that since its establishment it has provided 300bn/- to farmers in the country.
“The government will continue to cooperate with TADB to ensure that it proceeds with its efforts of promoting agriculture, livestock and fisheries thus encourage construction of factories in the country, he said. On his pa Ishmael Andulile Kasekwa, TADB Board of Directors Chairman Ishmael Andulile Kasekwa said that in addition to commending Minister Masauni for visiting the bank, he assured that the bank will continue to fulfill its objectives by abiding by procedures and guidelines for its establishment.
He said that , his bank will continue to create friendly environment for farmers so that they can benefit from the loans with soft conditions which will increase efficiency.
“I call upon farmers to continue using our banks and use the opportunities offered by the bank to increase efficiency in the sector thus improve their income and stimulate the country growth,” he said.