{"id":106624,"date":"2024-03-11T18:07:47","date_gmt":"2024-03-11T18:07:47","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials"},"modified":"2024-03-11T18:39:39","modified_gmt":"2024-03-11T18:39:39","slug":"nmb-zasco-partner-to-unlock-seaweed-farming-potentials","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials","title":{"rendered":"NMB, ZASCO partner to unlock seaweed farming potentials"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>NMB Bank has signed a Memorandum of Understanding (MoU) with state-owned Zanzibar Seaweed Company (ZASCO) that seeks to unlock the potential of seaweed farming in the island.<\/p>\n

NMB Chief Retail Banking, Mr Filbert Mponzi, said at the weekend that the move aligns with the bank\u2019s ambitious strategy of supporting sustainable economic development in Zanzibar.<\/p>\n

\u201cThis MoU reaffirms our commitment to support Zanzibar\u2019s Blue Economy agenda. Our biggest role will be to increase the efficiency of smallholder seaweed farmers in Zanzibar by providing tailor-made banking products, financial literacy as well as technical training right at grassroots level,\u201d Mr Mponzi said.<\/p>\n

NMB, one of the leading banks in the country, has been at the forefront in supporting Zanzibar\u2019s Blue Economy agenda, adding that the signed MoU with ZASCO won\u2019t only help in value addition but also increase the Isles foreign exchange earnings.<\/p>\n

Earlier, ZASCO Director General Dr Masoud Rashid Mohammed said the MoU had come at an opportune time as the company is embarking on its strategy to boost value addition in seaweed farming.<\/p>\n

\u201cWe believe this MoU will be a game-changer. We will do everything possible to implement all the terms stipulated on time,\u201d Mr Mohamed said.<\/p>\n

Mr Mohamed said his company has already commenced construction of an 8.0bn\/- seaweed processing plant in Zanzibar that will ensure that all the seaweed is processed before export so as to enable farmers to fetch better prices at the world market.<\/p>\n

\u201cThis will be the biggest seaweed processing plant not only in Tanzania but also in Africa,\u201d he said.<\/p>\n

The Zanzibar Trade and Industrial Development Minister, Mr Omar Said Shabani, during the event expressed optimism that seaweed is poised to overtake cloves as Zanzibar\u2019s biggest foreign exchange earner within a few years to come.<\/p>\n

\u201cThe price of seaweed is higher than that of cloves at the world market. With ample investment, espcially in value addition for seaweed, Zanzibar will be in position to get more foreign exchange,\u201d he said.<\/p>\n

Latest statistics showed that Zanzibar is producing 23,000 tonnes of seaweed per annum with 90 per cent of the out growers being women.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. NMB Bank has signed a Memorandum of Understanding (MoU) with state-owned Zanzibar Seaweed Company (ZASCO) that seeks to unlock the potential of seaweed farming in the island. NMB Chief Retail Banking, Mr Filbert Mponzi, said at the weekend that the move aligns with the bank\u2019s ambitious strategy of supporting sustainable economic development […]<\/p>\n","protected":false},"author":84,"featured_media":106623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,711],"class_list":["post-106624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nNMB, ZASCO partner to unlock seaweed farming potentials - Tanzania<\/title>\n<meta name=\"description\" content=\"NMB Bank has signed a Memorandum of Understanding (MoU) with state-owned Zanzibar Seaweed Company (ZASCO) that seeks to ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NMB, ZASCO partner to unlock seaweed farming potentials\" \/>\n<meta property=\"og:description\" content=\"NMB Bank has signed a Memorandum of Understanding (MoU) with state-owned Zanzibar Seaweed Company (ZASCO) that seeks to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-11T18:07:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-11T18:39:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1710169519.916411.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"780\" \/>\n\t<meta property=\"og:image:height\" content=\"470\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"NMB, ZASCO partner to unlock seaweed farming potentials\",\"datePublished\":\"2024-03-11T18:07:47+00:00\",\"dateModified\":\"2024-03-11T18:39:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials\"},\"wordCount\":372,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1710169519.916411.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-zasco-partner-to-unlock-seaweed-farming-potentials\",\"name\":\"NMB, ZASCO partner to unlock seaweed farming potentials - 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