TADB told to open more branches in Southern Highlands

PRIME Minister Kassim Majaliwa has directed Tanzania Agricultural Development Bank (TADB) to open more branches in the Southern Highlands zone to enable more farmers access the bank’s financial services.

The directive was issued by the Premier shortly after paying an official visit to TADB’s pavilion at the ongoing Nanenane exhibitions taking place in Mbeya Region recently.

PM commended TADB for the good work that it is doing in providing farmers with low interest loans and directed the state-owned bank to open more branches in Iringa, Ruvuma and Rukwa regions as the zone hosts a great deal of farmers.

In his visit to TADB’s pavilion, the bank’s Acting Director of Planning, Policy and Research, Mkani Waziri briefed him about the bank’s progress including lending updates.

Mr Waziri told the Prime Minister that, since the bank started its operations in 2015 to date, it has disbursed agricultural loans worth 608.5bn/- which has benefited 1,657,544 farmers.

Mr Waziri said TABD has reached multiple farmers including small-scale, medium and large farmers.

Further, he added that the bank is working in collaboration with partner banks through its Small-holder Farmers Credit Guarantee Scheme (SCGS) to make sure that farmers have access to low interest loans across the country.

The Premier also directed TADB to come up with strategies that will influence commercial banks in the country lower interest rates on agricultural loans.

At TADB’s pavilion, the Prime Minister interacted with the bank’s beneficiaries including TANICA café, from Kagera and JND Polybags Company, from Iringa, a cereal packaging manufacturer supporting post-harvest management of grains.’