Shinyanga RC salutes bank for lending over 650bn/- to agriculture

10Feb 2020
The Guardian Reporter
The Guardian
Shinyanga RC salutes bank for lending over 650bn/- to agriculture

​​​​​​​THE lending of over 650bn/- to the agriculture sector last year by CRDB Bank plc has attracted the attention of Shinyanga Regional Commissioner, Zainab Tellack.

Shinyanga Regional Commissioner, Zainab Tellack addressing cotton stakeholders at a meeting organized jointly by CRDB Bank and Private Agriculture Support System held in the region last week. Photo courtesy of CRDB.

Tellack told a cotton stakeholders meeting for Geita, Kigoma, Shinyanga and Tabora regions on Friday that CRDB’s commitment to support the agriculture sector aligns well with government’s plans to revolutionize the sector.

She told participants of the CRDB cum Private Agriculture Support System organized meeting that smallholder farmers need financing and training to become commercial farmers hence the bank’s initiative is very important.

“I am very happy to learn that last year you offered over 650bn/- credit to the agriculture sector which is very important for our industrialization agenda,” she noted.

She said the government through its Vision 2025 has cleared stipulated that in order for the economy to be semi industrialized and attain middle income status by then, agriculture has to be revolutionized.

Tellack said the government is already taking a number of measures to resuscitate the struggling sector by improving input supply chain, availability of commodity markets and introduction of insurance cover for agro-produce.

“I am also impressed with CRDB’s services to the agriculture sector which address challenges that have held back growth of the sector,” the Shinyanga RC added.

Tabora RC, Aggrey Mwanri urged cotton stakeholders to make use of CRDB services and products to commercialize agriculture instead of holding on to peasantry.

Mwanri urged farmers to modernize their farms by making use of science and technology so that they can increase productivity and quality of produce made.

“CRDB officials have just told us here all types of loans available to improve agriculture production, make use of such an opportunity,” he noted while paying tribute to the bank for such initiatives.

The bank’s Credit Director, Xavery Makwi said through its slogan, ‘We are ready,’ CRDB is fully equipped to work with the government and farmers to revolutionize agriculture.

“CRDB loans to the agriculture sector account for 40 percent of the market’s share in the country which clearly shows our commitment to improve the sector which accounts for about 25 percent of gross domestic product,” Makwi said.

He said through FahariKilimo Account which has over 30,000 farmers enrolled countrywide, the bank offers agro-inputs, credit, market access and training on modern crop husbandry practices and business management.

“This FahariKilimo Account is specific to farmers and is free from any maintenance costs,” he added.

The bank’s Western Zone Manager, Saidi Pamui urged the cotton farmers to join FahariKilimo Account so that they can access all products and services aimed at modernizing farming.

“Our aim is to work directly with Amcos (agriculture and marketing cooperative societies) so that we can easily give credit to cotton farmers,” Pamui said.

PASS Lake Zone Manager, Langelika Kalebi invited the cotton farmers to seek the organisation’s support in adding value to their commodities before getting to markets.

“But we also assist farmers to meet lending conditions as demanded by financial institutions,” Kalebi noted. Over 400 participants attended the meeting both from the public and private sectors.