NSSF lends cereals board Sh9bn for reviving factory
What you need to know:
The factory which closed production in the early 1990s, will be able to grind 250 tonnes of corn per day and a further 96 tonnes of rice per day as well as increase production of livestock foods for local and international markets once the revival completes, according to a statement issued yesterday.
Dar es Salaam. The National Social Security Fund (NSSF) has issued a Sh8.99 billion loan to the Cereals and Other Produce Board of Tanzania to purchase maize and rice milling machines for reviving the board’s factory in Mwanza.
The factory which closed production in the early 1990s, will be able to grind 250 tonnes of corn per day and a further 96 tonnes of rice per day as well as increase production of livestock foods for local and international markets once the revival completes, according to a statement issued yesterday.
The Minister of State in the Prime Minister’s Office (Policy, Parliament, Labour, Youth, Employment and Disabled), Ms Jenista Mhagama handed the cheque for the sum at the weekend in Mwanza and said the loan will be repaid in six years after a one-year grace period.
She appealed to Ministry of Agriculture, Livestock and Fisheries, which supervises the board, to make sure that it repays on time.
“My request also goes to Mwanza top leaders as they should know that the efficiency of this factory depends largely on the availability of raw materials. So it is their responsibility to ensure that the rate of raw material production balances with that of the factory’s production,’’ she insisted. She commended the NSSF for investing for industrialization. Nearly a year ago, NSSF invested in various industries in the country including the Biolarvicide plant in Kibaha.
