Bashe’s take on Tanzanian banks in agriculture

Simiyu. Deputy Minister for Agriculture Mr Hussein Bashe says as the government now prepares for major agricultural policy reforms, the country's financial institutions would be included in commenting on how they can fully participate in agriculture.

Mr Bashe said this when he visited the NMB Bank pavilion during the National farmers (Nanenane) in Nyakabindi, Simiyu region.

He said that the government through the ministry of agriculture has planned to create a friendly environment for financial institutions to invest in the sector, including looking at the proper lending system for farmers.

The deputy minister said "there has been a problem with inputs especially in cotton farming, where the government through the cotton board has spent a lot of money on importing and exporting to farmers but the results have not been clear."

He asked financial institutions to discuss how to provide credit to farmers. Country and went further to ask the financial institutions to stop using agents instead; go directly to the industry to spend their money and it will be returned to farmers as soon as possible after harvesting.

For his part, the Head of the state Department of Commerce Vicky Bishubo from NMB said through the bank, agri-business will be the right time in ensuring farmers and entrepreneurs in the country are more empowered through their groups so that they can increase productivity.

The Senior Manager in NMB Agricultural Business Relations, John Mchunda said that the bank allocated Sh500 billion in agribusiness for five years from 2015 to support the value chain in the agricultural sector and the farmers themselves.

And after the funding expired last year, NMB has added another $ 500 billion to help promote the Agricultural Value Chain for farmers, herders and fishermen and their businesses.