NBC backs govt plan to double agriculture share

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NBC backs govt plan to double agriculture share
NBC backs govt plan to double agriculture share

Africa-Press – Tanzania. THE National Bank of Commerce (NBC) has launched a campaign aimed at supporting sesame farmers in southern Tanzania, aligning with the government’s target of increasing agriculture’s contribution to GDP from 5.0 to 10 per cent by 2030.

The two-month initiative, branded ‘Wekeza NBC Shambani Ushinde’, was launched in Lindi over the weekend.

Lindi District Commissioner Victoria Mwanziva presided over the event, which drew farmers and cooperative leaders from Lindi Region and the Masasi and Nanyumbu districts in Mtwara.

NBC Head of Finance and Business Division Joseph Lyuba said the bank aimed to offer tailored financial services that directly benefit farmers and other actors in the agricultural value chain.

“We are not just launching a campaign; we are investing in the future of agriculture,” Mr Lyuba said.

He said the initiative integrates financial literacy, access to capital for tools and inputs, crop and health insurance and digital banking solutions to improve access and efficiency.

He said these efforts were designed to promote inclusion and boost productivity. Lindi Regional Assistant Registrar of Cooperatives Kenneth Shemdoe, alongside representatives of agricultural marketing cooperatives (AMCOS), attended the event.

Their participation underscored the need for joint efforts between banks, government and farmer groups to modernise the sector.

Ms Mwanziva said the bank’s support would help farmers in the south raise productivity and financial literacy, particularly in key crops like cashew and sesame.

“NBC has earmarked over 30m/- in rewards for farmers, including essential agricultural tools,” she said.

“This not only supports the government’s job creation goals, but also improves farmers’ understanding of finance and modern practices.”

NBC Head of SMEs and Agriculture Raymond Urassa said the campaign was part of the bank’s broader drive to formalise agricultural financing and support inclusive economic growth.

“The ultimate goal of this campaign is to help sesame farmers in Lindi and Mtwara secure their finances in trusted banking institutions,” he said.

Local farmers Bakari Salumu and Hawa Rashidi welcomed the campaign and urged others to participate. They said access to financial education, loans and insurance was critical to modernising farming in the region.

“This campaign is more than just prizes,” Mr Salumu said “It’s about improving our practices and financial knowledge.”

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