11 July 2018

Tanzania: This Is What Azania Bank Chair Advises On Agriculture Growth

Dar es Salaam — Azania Bank board chairman Godius Kahyarara has called on the lender to invest in agriculture by issuing loans to farmers to enable them practice quality farming.

The sector employs a majority of Tanzanians but is little financed.

Prof Kahyarara who visited the bank's pavilion at the ongoing Dar es Salaam International Trade Fair, stressed that investing in agriculture would also speed up the realisation of Tanzania's industrialisation drive.

Prof Kahyarara noted that agriculture holds a special place in the growth of the national economy, underscoring the need for financial institutions to support it.

To underpin the importance of agriculture he said, the bank had decided to invest in a sugar production plant located at Mkulazi in Morogoro Region.

"Agriculture is such an important sector to our economy that we cannot afford to ignore it. It will be difficult to attain our goal of becoming a semi-industrial country if we are not investing enough in this sector which employs a large section of our people," Prof Kahyarara said.

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