Speaking to reporters here yesterday PASS Trust acting managing director Anna Shanalingigwa said that the week-long event was made possible in collaboration with Dodoma City Council. The week-long event kicks off today at the Nyerere Sguare grounds in Dodoma.
Shanalingigwa said the week will bring together farmers, agronomists, financial institutions, input suppliers, government officials, and processors to discuss financial issues as a catalyst for agribusiness and business growth.
"Through this event farmers and other stakeholders will get unique opportunities including talking to different experts on various challenges they face in the search for capital where also various financial institutions will talk about access to credit," she said.
"Stakeholders and beneficiaries of PASS Trust will have the opportunity to express their views on our services as well as meet and exchange ideas to improve agribusiness in the country," said Shanalingigwa.she further said on the summit on July 24 this year, the Minister for Agriculture, Prof. Adolf Mkenda is expected to launch a new company PASS Leasing Company LTD owned by PASS Trust aimed at providing agricultural implements loans without any guarantee.
"The new company has already started offering its agricultural equipment loan services enabling small, medium, large, and various farmers engaged in all agricultural-related activities in the entire value chain, to own the equipment without any guarantees," she said.
Shanalingigwa said that it was established by the Government of Tanzania and Denmark 20 years ago with the aim of facilitating access to financial and commercial services for entrepreneurs of goods and services in the agricultural, livestock, and fisheries sectors in the country.
She said that the PASS Trust is meant to reduce poverty in the country by facilitating access to capital for farmers through sponsorship.
"PASS provides credit guarantees from 20 -60 percent (up to 80 percent for women) to participating banks as a way to increase sufficient securities to enable customers to access loans," said Shanalingigwa.
Shanalingigwa said: “In order to fulfill this responsibility and reach more Tanzanians, PASS works with 14 banks in the countries with which they have entered into contracts.”
She added: "PASS also provides business growth services such as various entrepreneurship training, feasibility study of relevant projects, assists clients in preparing documents for better investment projects and facilitates access to financial services to facilitate investment in such projects.”
Dodoma District Commissioner Jabir Shekimweri thanked PASS Trust for organizing the showcasing event in the country’s capital, saying the move will build capacity for farmers, hence increase crop productivity.
DC Shekimweri urged farmers and pastoralists to seize the opportunity as collateral is the property.