Posted on August, 1, 2019 at 10:36 am
THE country’s subsistence farmers have full backing from NMB Bank Plc which is committed to graduate them into large scale commercial farmers.
The bank’s Western Zone Manager, Sospeter Magesse said here this week at the ongoing annual agriculture trade fair popularly known as Nane nane that because of the lender’s commitment to develop the agriculture it has bankrolled the fair through 30m/- grant.
“We understand the importance of the agriculture sector to the economy of our country hence allocate funds to the sector as priority area,” Magesse said while pointing out that the bank has since invested over 600bn/- in the agriculture sector.
He said the bank is attending the fair which is being held here at national level, as part of measures to extend its services and products to broader public including smallholder farmers who constitute the bulk of the country private farming industry.
Magesse pledged to sensitize farmers on the need to run their farms as businesses, borrow from the bank and grow their production to become large scale commercial farmers capable of owning small agro-processing industries.
“Our presence here this year is targeting small scale farmers and pastoralists with various products including sensitising them of modern farming practices relating to cotton, coffee and tobacco. We are also going to inform the farmers that we have loans that will enable them mechanise their farms with tractors,” the NMB Western Zone Manager added.
Speaking after receiving NMB’s dummy cheque, Simiyu Regional Administrative Secretary, Jumanne Sagini said NMB has shown its true commitment to work with the government in transforming the agriculture sector from subsistence farming to commercial.
“Through this generous support to the fair which gathers farmers and experts in the field together, NMB is the second main sponsor of the show this year which is an important aspect to the government that’s working tirelessly to modernise agriculture,” Sagini noted.
He said the government will continue working closely with NMB and other commercial banks to ensure that small scale farmers and businesses assess financing to develop them into big businesses as government targets industrialization and middle income status by 2025.
“The government also appreciate your support to education, health and disaster relief financing which serves our people through better social services,” he stated.
Source: IPP Media