Bank hands over 50 tractors to marketing cooperative societies

08Nov 2018
The Guardian
Bank hands over 50 tractors to marketing cooperative societies

THE Tanzania Agricultural Development Bank (TADB) yesterday handed over 50 tractors worth 2.7bn/- to 50 primary marketing cooperative societies (AMCOS) to boost productivity in the Lake Victoria cotton growing zone.

The tractors have been secured on loan by the cooperatives in order to bolster cotton husbandry in conformity with requirements outlined in the agricultural sector development programme, phase two.

Handing over the tractors, the acting TADB managing director, Japhet Justine, said the tractors are part of the mechanisation package in the bank’s strategy to support agricultural modernisation in Tanzania.

“These tractors will enable farmers increase acreage with ease and efficiency. If cotton husbandry will be observed yields will correspondingly go up,” he said.

He said helping farmers access requisite tractors on loan is the bank’s duty in implementation of the ASDP-II so that farmers get bumper harvests to sell to local industries, adding that Tanzania’s agro-industries will work efficiently when they will receive continually good raw materials from Tanzanian farmers.  Tanzania mainland wants to become the middle-income nation with an industrial

economy by 2025.

Justine said TADB is tasked to improve agricultural efficiency by giving loans and loan equipment to farmers in time and gradually make farmers abandon traditional cultivation of using hoes.

Hoes are the main agricultural implements of Tanzanian small holder farmers.

Farmers, he said, must unite in primary cooperatives to enable the bank to coordinate well and safely repayment of loans given to farmers.

A member of the Tanzania Cotton Board Marco Mtunga said TADB credit facility offered to 600,000 cotton growers in the current season explains the 221,600 tonnes of cotton harvested in the present harvesting season, representing a 67 per cent rise from the 2017/18 harvesting season in which farmers harvested 133,000 tonnes.

‘We appreciate the support cotton farmers are getting from the TADB and we are thankful for that support.  That support is making the needed difference,” he said.

Amina Makoma, a cotton grower, thanked the government for the current push to raise productivity in cotton growing areas.  She said the grower’s income is going up every season.

TADB has been praised by farmers and top government leaders for working very closely with stakeholders. The bank has been following the farmers and has first- hand experience.





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