{"id":35720,"date":"2021-08-27T16:06:55","date_gmt":"2021-08-27T16:06:55","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=35720"},"modified":"2021-08-27T15:14:22","modified_gmt":"2021-08-27T15:14:22","slug":"tadb-inks-deal-with-agricom-to-support-farmers","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-inks-deal-with-agricom-to-support-farmers","title":{"rendered":"TADB inks deal with Agricom to support farmers"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>TANZANIA Agricultural Development Bank (TADB) and Agricom Africa Limited (AAL) have signed a Memorandum of Understanding (MoU) that will allow farmers in the country to purchase tractors and other agri-equipment at affordable costs.<\/p>\n

TADB\u2019s Director of Finance and Resource Mobilisation, Mr Derick Lugemala, said that the use of modern and innovative farming tools such as tractors is a great step towards transforming the agriculture sector in the country.<\/p>\n

\u201cOur partnership with Agricom provides customers with two unique options that make it affordable for farmers to purchase the equipment,\u201d Mr Lugemala said after signing the MoU yesterday.<\/p>\n

The loan attracts an interest rate of 9.0 per cent a year. \u201cThis is a significant relief for farmers as some charges 18 per cent at normal commercial rates,\u201d said Mr Lugemala.<\/p>\n

TADB with collaboration with other banks had issued 370bn\/- in loans to farmers. The amount financed over 128 mechanisation units, including; tractors, combine harvesters, sprayers and implementers.<\/p>\n

\u201cWith this new partnership TADB expects to achieve even better results according to him,\u201d he said. Agricom\u2019s Group Chairperson Ms Angelina Ngalula said the major thrust of the MoU is to provide innovative solutions at all levels of agribusiness supply chain, contribute towards increased food and nutrition security in the country and ultimately improve farmers\u2019 lives.<\/p>\n

\u201cOur main objective is to transform the way Tanzanians do agriculture, from subsistence farming to commercial farming, for the betterment of the farmer, and betterment of the country\u2019s economy,\u201d Ms Ngalula said.<\/p>\n

Under the MoU TADB and Agricom will be able to loan farmers with Suraj tractors and Kubota combine harvesters, sugarcane loaders, maize threshers and balers. Agriculture employs nearly 70 per cent of the population.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. TANZANIA Agricultural Development Bank (TADB) and Agricom Africa Limited (AAL) have signed a Memorandum of Understanding (MoU) that will allow farmers in the country to purchase tractors and other agri-equipment at affordable costs. TADB\u2019s Director of Finance and Resource Mobilisation, Mr Derick Lugemala, said that the use of modern and innovative farming […]<\/p>\n","protected":false},"author":84,"featured_media":35719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-35720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nTADB inks deal with Agricom to support farmers - Tanzania<\/title>\n<meta name=\"description\" content=\"TANZANIA Agricultural Development Bank (TADB) and Agricom Africa Limited (AAL) have signed a Memorandum of Understanding ...\" \/>\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\/tadb-inks-deal-with-agricom-to-support-farmers\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TADB inks deal with Agricom to support farmers\" \/>\n<meta property=\"og:description\" content=\"TANZANIA Agricultural Development Bank (TADB) and Agricom Africa Limited (AAL) have signed a Memorandum of Understanding ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-inks-deal-with-agricom-to-support-farmers\" \/>\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=\"2021-08-27T16:06:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/08\/img-61290115bbedd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\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=\"1 minute\" \/>\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\/tadb-inks-deal-with-agricom-to-support-farmers#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-inks-deal-with-agricom-to-support-farmers\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"TADB inks deal with Agricom to support farmers\",\"datePublished\":\"2021-08-27T16:06:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-inks-deal-with-agricom-to-support-farmers\"},\"wordCount\":288,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-inks-deal-with-agricom-to-support-farmers#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/08\/img-61290115bbedd.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-inks-deal-with-agricom-to-support-farmers#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-inks-deal-with-agricom-to-support-farmers\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tadb-inks-deal-with-agricom-to-support-farmers\",\"name\":\"TADB inks deal with Agricom to support farmers - 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