By Meleka Kulwa, Dodoma
The Tanzania Agricultural Development Bank (TADB) has issued a total of TZS 1.129 trillion in low-interest loans to farmers over the past decade, in a move aimed at transforming agriculture into a viable and commercial sector.
Speaking ahead of the national Nanenane exhibitions in Dodoma, TADB Managing Director Frank Nyabundege said the bank’s lending has focused on enabling farmers to access finance under affordable terms to boost productivity and support the government’s agriculture reform agenda.
“Our mandate is clear, facilitate access to finance for farmers to move from subsistence to commercial farming. Over the past ten years, we’ve worked closely with stakeholders to build an inclusive agri-financing system,” said Mr. Nyabundege during a press briefing on July 31.
He explained that since President Samia Suluhu Hassan took office, TADB’s capital has increased significantly, from TZS 60 million to TZS 442 million.
The government also injected TZS 1 trillion into the Bank of Tanzania to support commercial banks in lending to farmers at an interest rate of 3 percent, which has helped bring down loan rates to below 10 percent.
Previously, many farmers were borrowing at rates ranging between 20 and 30 percent, which was unsustainable for small-scale producers.
The reduction in lending costs has opened the door for more farmers to invest in improved inputs, mechanization, and value addition.
This year’s Nanenane exhibition will mark TADB’s 10-year anniversary.
According to Mr. Nyabundege, the event will serve as a platform to showcase the bank’s impact and continued commitment to agri-financing.
Meanwhile, the Permanent Secretary in the Ministry of Agriculture, Mr. Gerald Mweli, said the 2025 exhibition has been enhanced to offer practical learning opportunities for farmers.
It will focus on new technologies, modern farming techniques, and economic opportunities within the agricultural sector.
“Nanenane is more than just an annual event. It’s an educational forum that brings together farmers, researchers, input suppliers, and financial institutions to share knowledge and innovations,” Mr. Mweli said.
The exhibition will officially open on August 1, with the Vice President expected to officiate. Stakeholders from across the agriculture value chain are set to participate.