Finance Minister, Ambassador Khamis Mussa Omar, has directed the Tanzania Agricultural Development Bank (TADB) to align its financing with the government's priority areas in agriculture, saying the sector will be central to achieving Tanzania’s long-term economic development ambitions.
Speaking after touring TADB’s pavilion at the 33rd National Nane Nane Agricultural Exhibition at the Dr John Samuel Malecela Grounds in Nzuguni, Dodoma, on Sunday, the minister said targeted investment in agriculture is essential for accelerating growth in a sector that employs the majority of Tanzanians.
Ambassador Omar said government support has enabled TADB to significantly expand its financial capacity, with the bank’s capital increasing from TZS 60 billion to more than TZS 400 billion within a relatively short period.
He noted that the strengthened capital base has enhanced the bank’s ability to provide financing to farmers, livestock keepers and fishers, supporting efforts to modernise agriculture and advance the implementation of Tanzania’s Vision 2050.
“The agriculture sector remains a key pillar of our economy and its performance will be crucial in achieving the country’s development aspirations,” he said.
The minister stressed that Tanzania’s ambition to build a one-trillion-dollar economy will depend heavily on the contribution of agriculture and related subsectors, including livestock, fisheries and forestry.
He said the government is continuing to invest in initiatives aimed at increasing productivity, reducing poverty and improving livelihoods, with the broader goal of raising the country’s per capita income to 7,000 US dollars annually.
Ambassador Omar also praised exhibitors at the Nane Nane exhibition for producing high-quality goods with strong commercial potential, noting that many local entrepreneurs are creating products capable of competing in regional and international markets.
He called on the Ministry of Agriculture to strengthen efforts to promote locally produced goods and support producers to scale up operations in response to growing market demand.
“I congratulate the Ministry of Agriculture for the work it is doing. We must continue working together to accelerate the development of this important sector,” he said.
On livestock development, the minister said increased investment is needed to unlock the sector’s full potential, describing it as a profitable industry capable of delivering substantial returns while creating employment opportunities across the value chain.
He also highlighted the fisheries subsector as an important area for growth, noting its increasing participation levels and contribution to income generation.
According to him, greater investment in fisheries would help improve food security while creating new economic opportunities for Tanzanians.
