SAGCOT and IFC Partner to Accelerate Agricultural Transformation in Tanzania

Dar es Salaam, October 10, 2024 — In a strategic move to accelerate agricultural transformation in Tanzania, SAGCOT Centre Ltd. and the International Finance Corporation (IFC) have formalized a new partnership to boost the country’s agricultural sector. The collaboration was launched on October 7, 2024, with the signing of a Letter of Engagement between Mr. Geoffrey Kirenga, CEO of SAGCOT Centre Ltd., and Ms. Martin Valcin, IFC Country Manager for Rwanda, Tanzania, and Uganda.

The signing ceremony, held in Dar es Salaam, was attended by key stakeholders, including Ms. Paramita Dasgupta, Manager for Country Advisory and Economics, Eastern and Southern Africa at IFC, and Mr. Gilead J. Teri, Executive Director of the Tanzania Investment Centre (TIC). Also present were Mr. Leopold Shayo, Director of Research and Information Systems at TIC, and Ms. Maria Ijumba, Head of Cluster and Partnership Development at SAGCOT, who engaged in discussions on advancing Tanzania’s agricultural development.

The partnership aims to tackle critical barriers in Tanzania’s agricultural sector by improving access to finance for agribusinesses and facilitating investments in infrastructure and value chains. This initiative aligns with the country’s national agrarian goals, focused on enhancing productivity and sustainability. The collaboration aims to support Tanzanian agribusinesses in adopting sustainable farming practices, expanding market linkages, and attracting further investments to the sector through better financing options.

Mr. Geoffrey Kirenga, CEO of SAGCOT Centre Ltd. “With IFC’s extensive experience in finance and SAGCOT’s unwavering commitment to agricultural development, we believe this collaboration will significantly impact the sector, benefiting smallholder farmers and agribusinesses alike.” or.