Tanzania eyes 2bn/- annual revenue from carbon trading

KAGERA: TANZANIA is eyeing at least 2bn/- in annual revenue from carbon trading as the government pushes to scale up the emerging sector as part of its long-term economic strategy.

Permanent Secretary in the Vice President’s Office Richard Muyungi said the carbon business is among the key areas targeted to boost the economy by 2050, with strong potential to benefit both farmers and the nation.

He made the remarks during a visit to farms owned by investor Leonard Kachebonaho in Kyerwa District, Kagera Region, where carbon trading activities are underway.

ALSO READ: Tanzania urged fast-track construction of ICT backbone linking it with DR Congo

More than 100,000 farmers have already been registered and are benefiting from the initiative, which combines agricultural production with carbon credit generation.

Dr Muyungi said the government is expanding revenue sources through innovative sectors such as carbon trading, describing it as a high-potential global opportunity that directly benefits individual farmers.

For his part, Mr Kachebonaho said the farm also serves as a training centre, where farmers learn modern mixed farming techniques that enable them to earn income both from crop yields and carbon credit harvesting.