TWB, SUMA JKT TEAMS UP TO INTRODUCE MODERN IRRIGATION FARMING

Tanzania Women Bank (TWB) in cooperation with the National Service through SUMA JKT, have signed an agreement to make major transformation agribusiness irrigation on land owned by the army.

Managing Director for TWB, Ms. Margareth Chacha, said recently that the joint venture will also greatly benefit small growers who reside around the JKT surrounding areas since their products will be sold to JKT.

“This agreement is an important step in the transformation of agriculture in the country due to the fact that small-scale farmers living around JKT will have a guaranteed market for crops like corn, peanut, sunflower and pulses,” she said.

According to the MD, all payments relating to the ambitious project will be made or will pass through TWB.

The partnership will enable JKT be the largest producer of food in the country and sell into the domestic market and abroad.

She said that the financial feasibility analysis on the project for one season, will enable SUMA JKT receive more than $ 200 million.

“If many Tanzanians will decide to get involved seriously with agribusiness, it is my hope that Tanzania shilling will improve greatly against the U.S. dollar,” she said, adding that Tanzania has abundant opportunities in agriculture.