Z’bar Finance minister praises Tadb operations

26Jul 2021
The Guardian Reporter
Zanzibar
The Guardian
Z’bar Finance minister praises Tadb operations

ZANZIBAR Finance and Planning minister Hamadi Masauni has hailed the operations of Tanzania Agricultural Development Bank (TADB) and called upon it to mobilise the community to invest in the agricultural, livestock and fishing sectors to spur the country’s economic growth.

Addressing reporters at the weekend soon after holding discussion with the bank’s officials in Dar es Salaam, Masauni said there is need to educate the public about opportunities in the farming, livestock and fishing sectors for their own financial enhancement.

“Many people have been investing their money in the government bond system and takes too long to realise profits, as compared with agriculture,” he said.

He said TADB has a huge task in providing education to the public in the value chain investment in the three sectors.

“The statement that agriculture is bankable should reach the people and abandon investing in government bonds,” he stressed.

He added that education and reliable loans in agricultural activities will mobilise in spurring many people to invest in these important sectors that produce industrial raw materials.

Meanwhile, Masauni said he had received reports on TADB operations as since its establishment up to now it has dished out more than 300bn/- on loans to farmers in the country towards value chain investment in the farming, livestock and fishing sectors.

For his part, TADB Board Chairman Ishmael Andulile Kasekwa, apart from thanking Masauni for his visit, he assured him that the bank will continue implement itd aims by adhering to procedures and guidelines of its establishment.

He said TADB will continue putting in place friendly environment to farmers to enable them benefit from low interest loans that would spur achievements in the farming sector.

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