AfricaPress-Tanzania: FINANCIAL Sector Deepening Trust (FSDT) in collaboration with some stakeholders has brought onboard over 1million cashew nut and coffee farmers in financial inclusion, thanks to a project dubbed ‘Mfumo Jumuishi’ coordinated by FSDT.
According to FSDT Operation Director, Ms Irene Mlola, ‘Mfumo Jumuishi (literary meaning All Inclusive) is a model borne from the need to overcome constraints to financial and economic progress for smallholder farmers.
“This initiative was designed to address and to overcome economic inefficiencies faced by smallholder farmers in Tanzania, because these inefficiencies make financial inclusion become inconceivable and hamper the economic progress of farmers,’’ she said.
Ms Mlola was speaking here during the stakeholders’ meeting to discuss challenges facing smallholder farmers and as well as assess progress made in the implementation of ‘Mfumo Jumuishi Project.
The meeting was attended by FSDT officials, representatives from different financial institutions and officials from the National Health Insurance Fund (NHIF), among others.
During the meeting, Ms Mlola said Mfumo Jumuishi proved that coffee and cashew nut farmers can now access financial services after opening bank accounts as well as registering for mobile money services.
