Tanzania: GOVERNMENT SET TO ESTABLISH COOPERATIVE BANK – MAJALIWA

Prime Minister Kasim Majaliwa has announced that the government is in the final stages of establishing the National Cooperative Bank. A total of 15.7 billion shillings has already been collected from shareholders.

He stated that this amount represents 78.5% of the required capital of 20 billion shillings, emphasizing that establishing this bank will enable cooperative societies to access affordable loans and conduct their operations efficiently.

He made these remarks today (Wednesday, April 17, 2024) while addressing stakeholders at the Tenth Stakeholders’ Conference on Agriculture, Livestock, and Fisheries Sector held at the General Venance Mabeyo Hall in Dodoma.

“The Sixth Phase Government continues to take specific measures to strengthen cooperatives in the country. These measures include improving the operational systems of cooperative societies to enhance efficiency.”

He mentioned that the government has undertaken institutional reforms to increase productivity and efficiency by merging the Tea Research Institute of Tanzania, the Tobacco Research Institute of Tanzania, and the Coffee Research Institute of Tanzania into the structure of the Tanzania Agricultural Research Institute (TARI).

The government has also merged the Tanzania Tea Board and the Smallholder Tea Farmers Association to form a single board. Additionally, it has transferred the activities of the Pareto Board Tanzania to the Authority for the Regulation of Cereals and Mixed Crops.

“In the livestock and fisheries sector, the government is finalizing the process of merging the Meat Board and the Dairy Board, establishing the Fisheries Management and Aquatic Organisms Development Authority, as well as the Livestock Products and Infrastructure Authority.”

He emphasized that these improvements are part of the deliberate efforts of the Sixth Phase Government to enhance efficiency and promote economic growth through these sectors. Therefore, he called upon stakeholders at the conference to discuss ways to empower Tanzania to participate sustainably in agricultural development.

He noted that the world is discussing climate change, food systems, agriculture, and technology issues.

“During these three days of the conference, ensure you deliberate on these issues and develop proposals on how to improve our policies and systems in these sectors. Bring forward suggestions so we can move with the times, increase productivity, and enhance investment in these vital sectors of our economy.”

Earlier, the Minister of Agriculture, Hussein Bashe, stated that in improving the agriculture sector, especially seed production, the government has initiated a process to empower private seed producers by identifying them and providing them with farms to increase the production of quality seeds.

“The government is working on a strategy to provide subsidies to seed producers so that our country can become self-sufficient in producing quality seeds.

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ISSUED BY:

OFFICE OF THE PRIME MINISTER,

P.O. BOX 980,

41193 – DODOMA.

WEDNESDAY, APRIL 17, 2024.