Tabora, 23 February, 2024 The Minister for Agriculture Hussein Bashe has inaugurated Tanzania Agricultural Development Bank’s (TADB) Western Zone Office in Tabora, aiming to expand financial inclusion and availability of preferential loans for farmers, livestock keepers, and fisheries in Tabora, Kigoma and Katavi regions.
Presiding at the launch, the Minister hailed TADB for the good work done in the development of agriculture, livestock, and fisheries sectors and for expanding financial inclusion in the country.
“The government recognizes the vast importance of these sectors, and continues to give top priority to agriculture as a sure means to raise the country’s GDP and standards of living of individuals, to strengthen food security, to create jobs by taking active steps to ensure timely and affordable availability of agricultural inputs and to support markets for agricultural produce both locally and internationally,” he said.
He called on the residents of Tabora, Kigoma, and Katavi regions to actively utilize the services offered by TADB’s Western Zone office by applying for loans and utilizing the financial services correctly to improve their projects and pay back the loans on time.
Speaking at the event, the Managing Director of TADB, Mr Frank Nyabundege revealed that from January 2020 to December 2023, the Bank has provided loans worth of TZS 516.18 bn through direct lending in the agricultural, livestock and fisheries value chains while up to February 2024 the western zone has disbursed a total of TZS 19.59 bn whereby TZS 7.209 bn was disbursed to Kigoma region, TZS 2.394 bn to Katavi, and TZS 9.996 bn was issued to Tabora farmers & Livestock keepers.
The Managing Director also thanked the sixth phase government led by H.E. Dr. Samia Suluhu Hassan, for supporting agricultural transformation by increasing TADBs capital to TZS 268 bn and through other strategic capital injection projects aimed at increasing availability of low-interest loans to the agriculture, livestock, and fisheries sectors.
TADB now boasts seven zonal offices; namely Lake Zone office in Mwanza serving Kagera, Mara, Shinyanga, Geita, and Simiyu regions; the Southern Highlands Zone office in Mbeya serving Songwe, Iringa, Njombe, and Rukwa; Eastern Zone office in Dar es salaam serving Coast and Morogoro regions; Western Zone office in Tabora serving Katavi and Kigoma regions; Northern Zone office in Arusha serving Tanga, Manyara and Kilimanjaro regions; Central Zone office in Dodoma serving Singida region & Southern Zone office in Mtwara serving Lindi and Ruvuma regions.
The government launched TADB Bank in 2015 with two main goals facilitating food self-sufficiency and security in the country and supporting agriculture transformation from subsistence farming to commercial farming.
