Equity Bank Tanzania, in strategic collaboration with the Ministry of Livestock and Fisheries, has unveiled a landmark initiative aimed at revitalising Tanzania’s livestock and leather sectors.
The initiative seeks to increase the value of livestock products, open up new markets, and improve the livelihoods of livestock keepers, particularly in rural areas.
Speaking during a stakeholders’ forum held in Dodoma, the Deputy Permanent Secretary in the Ministry of Livestock and Fisheries, Dr Edwin Mhede, said the government has directed Equity Bank and its board to form a joint technical task force.
The team will oversee coordinated investment in the livestock sector to ensure sustainable development and enhanced productivity.
“This partnership is designed to improve livestock husbandry and leather production systems. Our goal is to raise product quality and turn the livestock sector into a significant source of income for Tanzanians,” said Dr Mhede.
He noted that the government has already vaccinated over 16 million animals as part of a national campaign to control livestock diseases a move that will enhance product quality and ensure hides and skins meet both domestic and international standards.
The vaccination programme is expected to be completed by October this year.
Equity Group Holdings CEO Dr James Mwangi said the collaboration aligns with the bank’s continental vision of supporting strategic economic sectors, including agriculture and livestock.
“Our goal is to empower livestock keepers to benefit from the full value chain, not just from selling raw animals or unprocessed hides,” said Dr Mwangi.
“Equity Group is prepared to invest in technology and provide financial solutions that will modernise Tanzania’s livestock and leather industries.”he added
Equity Bank Tanzania’s Managing Director, Ms Isabela Maganga, said the bank has developed a comprehensive investment plan in collaboration with government institutions and other stakeholders.
“We are focused on delivering affordable financial products, technical support, and value chain development for smallholder livestock farmers, especially those in rural areas,” she said.
The bank aims to support processing initiatives, facilitate access to markets, and offer tailor-made loans to livestock keepers and cooperatives. According to Ms Maganga, this approach will increase earnings and build resilience within the sector.
Equity Bank Board Chairperson Mr Florens Turuka urged livestock keepers to engage with the bank and leverage available financing and advisory services. He emphasised the vast economic potential of the livestock and leather industries.
“By working together, we can increase the production and quality of livestock products and add value to hides and skins, which remain largely underutilised,” said Mr Turuka.
Tanzania currently has an estimated 34 million cattle, 24.5 million goats, and 8.5 million sheep. The livestock sector contributes approximately 7.4 percent to the country’s Gross Domestic Product (GDP).
Presenting at the event, Equity Bank’s Director of Business, Mr Prosper Nambaya, said the planned investments are a long-term solution to key challenges, including the export of raw hides and skins without value addition.
“With the application of modern technology and better market linkages, Tanzania can double or even triple the quality and value of its livestock and leather exports,” Mr Nambaya explained.
“This will translate to more jobs, higher incomes, and increased contributions to national revenue.”he added
Stakeholders at the forum raised common challenges facing the sector, including lack of modern animal husbandry knowledge, inadequate access to water and pasture, poor infrastructure, limited financing options, and insufficient market access.
Nevertheless, they welcomed Equity Bank’s initiative, describing it as a critical step toward transforming the sector.
The partnership is expected to create new employment opportunities, especially for women and youth, across the entire livestock and leather value chain from rearing and collection to processing and marketing. It is also projected to strengthen the sector’s contribution to the national economy.