PRIVATE Agriculture Sector Support Trust (PASS Trust) has established a subsidiary company PASS Leasing that will provide agricultural equipment to farmers from various partner dealers in Tanzania in a bid to improve agriculture output and boost farmers’ earnings.
This was stated over the weekend, by the PASS Trust Executive Director Mr Yohane Ibrahim Kaduma during a seminar involving agricultural stakeholders which was held in Moshi, Kilimanjaro Region.
“Since its establishment, a total of about 66,077 businesses have benefitted from PASS Trust’s agricultural credit guarantee programme, whereby approximately 3.4 million persons whereby 51 per cent were women. The programme also created 2.7 million jobs countrywide,” he said.
“Through our guarantee programme, PASS Trust guarantees between 20 and 60 per cent of the needed disbursed funds, whereby priority is given to women and youth businesses as well as environmental conservation projects,” he added.
Mr Kaduma said the organisation has been able to improve the well-being of many Tanzanians by increasing productivity in their businesses as the result of various supports they get through the PASS Trust programmes.
“Since its inception, PASS Trust has become a very important bridge in enabling farmers, fishermen, forest products’ stakeholders, breeders and various entrepreneurs along the entire agricultural value chain, especially those whose collaterals are not sufficient to benefit from loans opportunities provided by commercial financial institutions,” he noted.
He said the organisation also provides training services for young people in agribusiness training and modern animal husbandry through the Agribusiness Innovation Centre (AIC).
He said as far as PASS Trust plans are concerned, sustainable food security would be achieved through a sustainable agricultural revolution based on the principles of Participatory Green Growth.
“PASS Trust has focused on stimulating and facilitating the growth of agriculture in the country while at the same time giving priority to youth and women whereby we give them credit guarantees and business development services so that to achieve their investments goals,” he said.
“We believe in cooperation with other organisations that serve the agricultural sector, that is why we have invited other stakeholders to this seminar to discuss and identify various ways that can help the agricultural sector through the Inclusive Green Growth agenda which aims to encourage agricultural growth with respect for the conservation of the natural vegetation and environment in general.”
Speaking at the event, the Kilimanjaro Regional Commissioner Mr Nurdin Babu commended PASS Trust for coming up with a programme meant to promote the economy through the agenda of Participatory Green Growth, saying it was the best way to stimulate sustainable agriculture.
“May I take this opportunity to congratulate you for coming up with the innovation and later on the establishment of an agenda for Participatory Green Growth that stimulates sustainable economic development that goes hand in hand with environmental protection as well as increasing productivity in agricultural production,” he said.