The agreement was signed in Dar es Salaam recently by the bank’s acting managing director, Augustino Chacha and the board acting chairman, Lucas Malunde who described the agreement as panacea for the sector’s growth.
Speaking shortly after the signing ceremony, Chacha said the agreement among other things would help to strengthen the dairy sector in Tanzania with major focus on increasing dairy value chains.
“This agreement meant a lot for increasing productivity, sustainable production in dairy sector, capacity building for stakeholders including training and technology,” Chacha explained.
He described the dairy sector as lucrative and that has a good contribution to the national economic growth. The support for the sector would enable it contribute significantly into the government coffers.
“We have agreed to enhance the capacity building for stakeholders in the dairy value chains through training and capital. TADB is committed to see the sector contribute dearly in the economy,” Chacha said.
Speaking at the same venue, Malunde congratulated the agreement, saying that it would help in addressing the challenges facing the sector in Tanzania.
“My board will work very closely with TADB in the provision of training and technology, Malunde said, noting that increase of production was a top priority of TDB and that capacity building for stakeholders was of paramount significance as well.
Malunde said the main purpose of agreement should remain to expose stakeholders in the sector from all stages of production, processing and marketing of products falling under the dairy value chains.
“If this sector is going to be supervised well, will stimulate production, industries and finally boost the national incomes. The board has the role of registering stakeholders in the dairy sector in Tanzania.
Earlier, the acting Registrar of TDB, Dr Sophia Mlote said the agreement would help the availability of capital that was highly needed to stimulate growth and development of dairy sector among stakeholders.
“The availability of modern equipment needed at all stages of production will play a significant role in the sector. We are optimistic that the agreement with TADB was meaningful,” Dr Mlote said.
She said in ensuring the government’s efforts to build the mid-sized and industrial base economy by 2025. She also commended the government for waiving nuances taxes in the sector to encourage and attract more investments.