Tanzania: Agriculture Bank to Boost Farming

THE financial sector is an essential player in agriculture development, playing a facilitating role of bolstering the necessary capital for farming activities like storage, processing, packaging, transport, insurance and marketing of the produce.

Unfortunately so far, only six per cent of Tanzanians have access to financial loans from banks, with the agricultural sector accounting for only one per cent of the loans. The banking sector attributes high risk in lending to farmers as the main bottleneck. According to a recent Fin- Scope survey, the proportion of adult population using banks and other formal financial institutions is around 12.4 per cent only.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.