By Our Reporter
Cashew farmers in Mtwara are being encouraged to increase their savings and use formal banking services under a new campaign by NMB Bank and CMC Agri Limited, which offers tractors and motorcycles as incentives during the 2026/27 cashew marketing season.
The campaign, branded Korosho Yangu, Benki Yangu (My Cashew, My Bank), will see five primary cooperative unions compete for tractors, while Agricultural Marketing Cooperative Societies (AMCOS) compete for motorcycles. Individual farmers will also have a chance to win cash prizes by increasing their bank deposits.
Launching the campaign, Mtwara Regional Commissioner Colonel Donald Msengi said the tractors could help address transport challenges affecting the movement of farm inputs and harvested cashew nuts, particularly in areas with poor road infrastructure.
He urged NMB to provide farmers with clear information about the campaign’s eligibility requirements and loan conditions to ensure they understand the opportunities and obligations involved.
Colonel Msengi also advised the bank to explore ways of helping farmers access loans to pay for health insurance before harvesting, when many depend on proceeds from cashew sales to meet household expenses.
The call highlights the financial pressures farmers can face before their crops generate income, including the cost of healthcare and agricultural inputs.
NMB’s Head of Agribusiness, Nsolo Mlozi, said the tractors would support several farming activities, including transporting cashew nuts, spraying crops and preparing farmland.
He said winners would be selected based on their deposit levels, banking transactions and compliance with the campaign’s conditions.
The arrangement is intended to encourage farmers and cooperative societies to increase savings and conduct more transactions through the banking system, while offering agricultural equipment as an additional incentive.
CMC Agri Limited Tanzania manager Stuart Leishman said modern agricultural equipment was important in improving productivity, while MAMCU chairman Alhaji Azam Mfaume said the campaign could encourage competition among cooperative societies to increase deposits and improve agricultural services for their members.
The campaign combines financial incentives with access to equipment that could help farmers and cooperatives improve agricultural operations. Its practical impact will depend on the campaign’s terms, the distribution of the prizes and the ability of beneficiaries to use the equipment effectively to reduce costs and improve productivity.