Tanzania Agricultural Development Bank devises strategy to boost Kigoma palm oil output
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During his June, 19 2018 meeting with top management of TIB Development Bank, TIB Corporate Bank and TADB, Mr Majaliwa asked the institutions to play a role in revolutionising Tanzania’s agriculture.
Kigoma. Tanzania Agricultural Development Bank (TADB) is devising a strategy that will help to boost palm oil production in Kigoma.
Speaking before the Prime Minister Kassim Majaliwa here on Tuesday, the TADB acting managing director, Mr Japhet Justine, said the bank was working with the Tanzania Tree Seed Agency (TTSA) in ensuring that farmers have the right seeds and other inputs.
“That way, we are confident that TTSA and other stakeholders will be able to get enough seeds that will be sold on affordable prices to farmers in Kigoma Region,” he said.
Kigoma is the main source of palm oil in Tanzania where palm trees date back to 1920s, according to a report titled ‘The Assessment on the Potential of Edible Oilseeds Produced in Tanzania’, which was conducted by the Tanzania Edible Oil Actors Association (Taosa) in 2012. It is estimated that Tanzania imports at least 400,000 tonnes of palm oil annually despite its potential to grow different oilseeds. For now, Tanzania grows groundnuts, sunflower, sesame, cotton and palm oil but almost 50 per cent of the country’s edible oils are imported and mainly from Malaysia. According to Mr Japhet, by helping TTSA and other stakeholders in ensuring that the palm seeds are readily available and at affordable prices to farmers, the bank will be directly playing a role in boosting production of the crop He said TADB has identified some small scale farmers’ associations in Kigoma and Uvinza in the region who may increase their production if they are given financial boost.
During his June, 19 2018 meeting with top management of TIB Development Bank, TIB Corporate Bank and TADB, Mr Majaliwa asked the institutions to play a role in revolutionising Tanzania’s agriculture.
