NMB Bank disburses 1.5bn/- to cashew nuts farmers

19Nov 2018
The Guardian Reporter
The Guardian
NMB Bank disburses 1.5bn/- to cashew nuts farmers

IN response to President John Magufuli’s order to have all cashew nuts purchased and processed by Tanzania People’s Defence Forces, NMB Bank Plc has already paid a 1.5b/- to farmers for their commodities.

New Agriculture Minister, Japhet Hasunga.

NMB Bank’s Southern Zone Manager, Janet Shango said the money has been paid directly to the first batch of verified cashew nuts farmers in Lindi and Mtwara regions.

“After verification of names, accounts and weight of the commodity purchased as per Tanzania Agriculture Development Bank’s authorization, we were able to make payments on Friday last week. We are now in the process of working on another list of names whose accounts were missing,” Shango said.

She further said noted that the bank has also been mobilizing farmers who have no bank accounts to open one to facilitate smooth payment of their money. “In the verification process, we also have attached our officials with Tanzania Agriculture Development Bank teams to make help with instant opening of accounts by farmers,” the Southern Zone Manager added.

Last Friday, new Minister for Agriculture and Cooperatives, Japhet Hasunga said payments for verified cashew nuts submitted by farmers to warehouses through primary cooperative unions, were ready and due to be released by banks including NMB.

Minister Hasunga confirmed about the payments when he spoke to reporters during a press conference held at the Mtwara Regional Commissioner’s conference room on Friday.

“Until Thursday, a total of 35 primary cooperative unions had met payment conditions. The task that is going on now at NMB Bank is to list farmers names and open them bank accounts for those who don’t have them before depositing their payments,” Hasunga noted.

 According to the minister, 10 primary cooperative Unions are under Tandahimba – Newala Cooperative Union (TANECU), six under Tunduru Agricultural Marketing Cooperative Union (TAMCU), 15 under Masasi, Mtwara and Nayamba Cooperative Union (MANGU), and Four under Lindi-Mwambao cooperative Union.

Adjourning an ordinary session of parliament last Friday, Prime Minister Kassim Majaliwa assured the public that this year’s cashew nut buying season is on course following reluctance by private traders to buy the commodity at a minimum price of 3,000/- per kilogram.

Majaliwa who had given traders up 4pm on Friday to table their orders or risk being deregistered, managed to lure 13 companies which however were dismissed by President Magufuli’s decision to use TPDF commercial wing on JKT National Service to buy and process the nuts before releasing them into local and foreign markets.

Dr Magufuli’s dismissed his Agriculture Minister, Dr Charles Tizeba and Industry and Trade Minister, Charles Mwijage while dissolving Cashew nut Board of Tanzania over the cashew nut buying saga.

Top Stories