Africa’s productivity in the Agricultural sector and ability to feed itself depends on the modernisation of local industries.
These remarks were made by Hailemariam Dessalegn former Ethiopian Premier and Former President of Tanzania Jakaya Mrisho Kikwete on Tuesday.
The two leaders made these remarks while touring Joydons (T) Limited in Bagamoyo, a maize flour processing factory owned by two women entrepreneurs, Joyce Donald Kimaro and Joyce Donatikimaro who are also cousins and beneficiaries of TADB’s loan facility.
Dessalegn is currently visiting Tanzania in his capacity as the Chairperson of Alliance for Green Revolution in Africa (AGRA).
According to him, Tanzania and Africa’s productivity in the agriculture sector and ability to feed itself depends on the modernisation of local industries.
“Agriculture transformation can only take place if there is in the value chains processing plants like these ones that help small-holder farmers to increase their productivity, and supply to these kind of factories so that it is processed and sold with high value,” said Dessalegn.
He explained that AGRA is trying to bring Africa agricultural transformation at the centre of Africa’s renaissance and, “we are happy that it is in the making, and that Tanzania is leading this process.”
On his part, former President Kikwete doubling as a board member of AGRA, said that Tanzania has many projects that are being funded by AGRA. “After this visit, we are very happy to witness for ourselves how the Tshs1.2billion loan facility from TADB has managed to revolutionarise and impact the production of maize flour in this factory. I would therefore like to wish TADB all the best, because if the bank prospers, entrepreneurs in the Agricultural sector also prosper,” Kikwete explained.
The Joydons project is among the 11 other projects financed under a partnership agreement with AGRA. It tackles post-harvest loss by adding value to maize, it has been able to get the technology that also removes aflatoxins in maize flour.
Apart from that, matching grant with AGRA has enabled TADB to finance 11 SMEs with loans worth U$4.4 million of which U$600,000 grant has been offered by AGRA.
“This strategic partnership has enabled us to stimulate SME’s financing in the value addition of food crops. Joydons a female owned and led company is on of the SME’s we have been able to finance through this agreement,” explains TADB’s Acting Managing Director, Derick Rugemala.