In an effort to promote and support the transformation of agriculture from subsistence to a commercial undertaking, the Tanzania Agricultural Development Bank (TADB) and the Tanzania Horticultural Association (TAHA) are in the process of developing a partnership to safeguard the horticultural industry.
TADB's Acting Managing Director, Mr Francis Assenga said that the Bank wants to address limited financing challenges that face the horticultural industry in the country, mainly by addressing issues such as commodity trading, high interest rates, short-term loan maturities and rigid repayment terms without the flexibility to accommodate the seasonal and/or cyclical nature of agriculture.
TADB's Acting Chief added that his Bank acknowledges the importance of TAHA and the horticultural industry as a whole in a country that largely depends on smallholder farmers, with the export of fruits and vegetables alone being 70 per cent dependent on farmers with land holding less than two (2) hectares.
"We aim to make an arrangement with TAHA that believes in the spirit of public and private partnership in realising TADB's role in increasing access to non-finance support services, like business case development, market information, business management and good agricultural practices (GAP) training as well as contract negotiation for horticultural farmers in the country," he said.
