Tanzania Agricultural Development Bank pays 8.4bn/- dividend
Parliamentary committee commends TADB for improved efficiency and increased dividend payment to government.
The Parliamentary Standing Committee on Public Investments (PIC) has commended the Tanzania Agricultural Development Bank (TADB) for increasing its dividend payment to the Government from 500m/- to 8.4bn/-. PIC Chairperson Ojambi Didas Masaburi announced the commendation in Dar es Salaam, citing improved efficiency in managing public capital.
Masaburi stated that TADB has safeguarded the government's 60bn/- capital investment and strengthened its capacity to contribute to state revenue. The bank has also opened eight zonal offices in Kagera, Ruvuma, and Kigoma regions to bring financial services closer to farmers, enabling smallholder farmers to secure loans.
TADB Board Chairman Ismail Andulile confirmed the committee directed the bank to ensure loans reach rural smallholder farmers. TADB will continue collaborating with commercial banks to improve agricultural lending efficiency across Tanzania.
Why it mattersTanzanian farmers will have improved access to loans for expanding agricultural activities, potentially increasing production and their economic well-being.