Africa-Press – Tanzania. DEPUTY Minister for Agriculture Hussein Bashe has said it is important to invest in agribusiness, with a view to ending unemployment challenges facing the youth, who are the majority in the population.
Mr Bashe said this over the weekend at Cereals and other Produces Board (CPB) in Dodoma, during a visit and accompanied by the Minister of State in the Prime Minister’s Office responsible for Policy, Parliamentary Affairs, Labour, Employment, Youth and the Disabled, Ms Jenista Mhagama.
While hailing the National Social Security Fund (NSSF) in the way it participates in investing in the agriculture sector in a bid to add value of farming products, he said the sector employs majority of Tanzanians.
In 2017, NSSF issued a loan of 3.6bn/- to CPB to support it revive the sunflower and flour factories and as well create jobs to the youth, which ultimately gives revenues to the government.
On his part, NSSF Chairman of the Board of Trustees, Ambassador Ali Iddi Siwa, said NSSF has invested a lot in development including issuing a loan to the industry after being satisfied by the way it has been creating jobs to the youth.
“We are satisfied with their business plan, which shows hope and they have started paying back the loan,” he said.
Elaborating, Amb Siwa hailed the government for supervising the industry and enabling it to be sustainable in business, besides paying back its loans and most importantly produce flour, oil, and other cereals that have nutrients and ensure malnutrition is ended in the country.
Earlier, Minister Jenista directed the Board to continue collaborating with NSSF to identify areas that are good for investment.
“Today, we have visited the Cereals and other Produces Board (CPB) and have seen the way work being done through investments especially this 3.6bn/- provided by NSSF in 2017, and therefore, contributing to employment in the country,” she said Commenting, NSSF Director General, William Erio, said they aim to continue investing in industries sustainably and hence, invite stakeholders interested to collaborate and look for opportunities likely to end unemployment in the country.
On his part, CPB Director General, Dr Anslem Moshi said they received the loan in 2017 to put up the industry which started operations December last year 2020.
He noted that the loan has enabled them reach the government’s vision of a middle income country and hence, they started paying it back to a tune of 400m/- in September 2020.
He said the industry has been a bridge between farmers and ensures them markets for their products at competitive prices.