Thanks to a recent pledge from Tanzania Commercial Bank (TCB), small and medium-sized farmers can anticipate better funding for their operations.
By facilitating small- and medium-sized farmers’ access to loans, the top lender has reiterated its commitment to assist President Samia Suluhu Hassan’s administration throughout its sixth phase.The objective of this program is to increase agricultural output and enhance the quality of produce for both domestic and foreign markets.
Greetings on Tuesday, August 20, from Daniel Mbotto, Director of Loans at TCB.The event was coordinated by TCB in association with Aceli Africa and AFC GOPA.
Mr. Mbotto gave an overview of the bank’s plan to increase its involvement in the agribusiness industry, saying that TCB was concentrating on preparing its employees to promote value addition along the entire agricultural supply chain and effectively issue loans.
Mr. Botto expressed optimism that TCB, with its vast network of 82 locations, was dedicated to making sure that its staff members had a thorough understanding of agricultural loan providing in order to promote sector growth.”We will continue to offer loans while fostering innovation through our experience to effectively support farmers by providing solutions and growing their capital,” Mbotto stated.
Farmers have responded well, he said, especially in Kibondo where they are growing cassava and have experienced notable gains in the last few harvest seasons.Farmers are currently getting ready for the approaching harvest season.
TCB’s primary objective is to assist the government in empowering residents economically and in connecting with and supporting farmers and their families.This assistance will increase capital, revenue, and production, enabling farmers to launch new ventures and advance their careers ” he added
Some cassava growers have started to set up tiny processing plants to add value to their output and enable them to export to European and American markets in support of government initiatives to increase farmer productivity.
