Posted on May, 9, 2019 at 09:57 am
FINANCIAL support to women engaged in farming and entrepreneurship continued to receive a boost during fiscal year 2017/2018, with reports showing that a total of 29,190 women in 2,919 groups were issued with loans amounting to 15.633bn/-.
The loans were provided through the Women Development Fund (WDF), a brainchild of the National Economic Empowerment Policy of 2004. WDF receives four per cent of revenues generated in all local government authorities countrywide.
In response to a basic question by Special Seats MP, Ms Esther Mmasi (CCM), Deputy Minister for Agriculture, Mr Omary Mgumba, told the National Assembly that women make 90.4 per cent of the labour force in the agriculture sector and they contribute 70 per cent of food production in the country.
The Special Seats MP had complained that many women involved in agriculture are held back due to lack of access to credit facilities to improve productivity, and yet they are the leading participants in the sector which is the country’s backbone.
Mr Mgumba told the assembly that due to realization of the important role played by women in agriculture, the government has issued directives to the Tanzania Agricultural Development Bank (TADB) to allocate 20 per cent of the loan portfolio for women.
“As of January this year, the bank has dished out 33 per cent of the loan portfolio to groups of women countrywide. There are also two banks, NMB and Azania which have opened special windows to provide credit to groups of women engaged in agriculture and entrepreneurship,” he explained.
The Deputy Minister also urged women to form groups and establish Savings and Credit Co-operatives Societies (SACCOS) and Village Community Banks (VICOBA) to enable them access funds to boost their working capital.
Mr Mgumba also explained that the Agricultural Input Trust Fund (AGITF) has been instructed to give priority to women groups which seek loans in the agriculture sector.
Source: Daily News