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| The Registrar of Cooperative Societies, Dr. Benson Ndiege (center), hands over a symbolic car key to the Chairman of the Board of Tandahimba and Newala Cooperative Union (TANECU), Karim Chipola (right), marking the official handover of five (5) trucks facilitated through a low-interest loan from the National Bank of Commerce (NBC). The trucks aim to improve crop transportation, increase the efficiency of cooperative operations, and boost farmers' incomes. Witnessing the event are NBC officials, led by the Head of Retail and Agribusiness Banking, Raymond Urassa (front left). |
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| The Registrar of Cooperative Societies, Dr. Benson Ndiege (left, in a suit), hands over a symbolic car key to the Vice Chairman of Kahama Cooperative Union (KACU), Simon Ntemi Nzengo (center), marking the official handover of ten (10) trucks facilitated through a low-interest loan from the National Bank of Commerce (NBC). The trucks will bring greater efficiency to crop collection and transportation, strengthen cooperative operations, and increase farmers' incomes. Witnessing the event are NBC officials, led by the Head of Retail and Agribusiness Banking, Raymond Urassa (front, third from left). |
DODOMA, Tanzania, August 4, 2026 – The National Bank of Commerce (NBC) has strengthened its support for Tanzania's agricultural sector by handing over 15 trucks financed through a low-interest loan facility to two of the country's leading agricultural cooperative unions, reinforcing efforts to improve agricultural logistics, enhance market access and empower farmers.
The fleet, comprising 10 trucks for the Kahama Cooperative Union (KACU) and 5 for the Tandahimba and Newala Cooperative Union (TANECU), is expected to enhance crop collection and transportation, lower logistics costs and improve efficiency across the agricultural value chain, benefiting thousands of farmers.
The symbolic handover took place during the 2026 Nanenane Agricultural Exhibition at the Dr. John Malecela Grounds in Dodoma. The event was attended by the Registrar of Cooperative Societies, Dr. Benson Ndiege, senior officials from both cooperative unions, farmers and NBC executives led by the Head of Retail and Agribusiness Banking, Mr. Raymond Urassa.
Speaking during the ceremony, Mr. Urassa said the investment reflects NBC's long-term commitment to driving Tanzania's agricultural transformation through affordable and innovative financing solutions.
"Agriculture remains at the heart of Tanzania's economy, and NBC is committed to providing financial solutions that enable farmers and cooperatives to become more productive and competitive," he said.
He noted that the newly acquired trucks will improve the movement of agricultural produce from farms to markets, reduce transportation costs and strengthen the country's agricultural value chain.
Mr. Urassa added that NBC will continue collaborating with cooperative unions and other stakeholders to develop financial products that boost agricultural productivity, create commercial opportunities and improve the livelihoods of farmers across Tanzania.
Government Commends NBC's Commitment
Registrar of Cooperative Societies, Dr. Benson Ndiege, praised NBC for its continued investment in the cooperative movement, describing the bank as a strategic partner in modernising Tanzania's cooperative sector.
"Today's cooperatives are increasingly operating as commercial enterprises," Dr. Ndiege said. "These trucks will not only solve transportation challenges but will also strengthen the business capacity and revenue-generating potential of the cooperative unions."
He further highlighted NBC's broader support to the agricultural sector through long-term financing, crop insurance, housing finance, digital banking services and other tailor-made financial solutions aimed at accelerating agricultural development.
Cooperative Leaders Welcome the Investment
TANECU Board Chairman Karim Chipola revealed that the union's five trucks were financed through an NBC loan approved in November last year, with repayments commencing in February this year.
According to him, the cooperative has remained up to date with its loan repayments while already experiencing significant operational benefits from the investment.
"We have already started servicing the loan and remain on schedule," he said. "The trucks have significantly improved our ability to collect and transport members' produce efficiently."
Mr. Chipola also disclosed that NBC financed the construction of two warehouses for the union, while plans are underway to establish six additional storage facilities across the Mtwara Region to strengthen post-harvest handling and storage capacity.
Meanwhile, KACU Vice Chairman Simon Ntemi Nzengo said the union received 10 HOWO trucks valued at more than TZS 2.1 billion, which will support cotton and tobacco collection, transportation of crops, distribution of agricultural inputs and operations at the union's cotton ginning plant.
"We are committed to managing these assets professionally to ensure they generate sustainable commercial returns for our members," Mr. Nzengo said. "We sincerely appreciate NBC for its confidence in our cooperative and for providing financing that will significantly transform our operations and improve the livelihoods of our members."
Driving Agricultural Growth
The latest investment further strengthens NBC's position as one of Tanzania's leading financiers of the agricultural sector through integrated financial solutions that support farmers, cooperative societies and agribusinesses across the entire agricultural value chain.
By investing in critical agricultural infrastructure and logistics, NBC continues to contribute to improved productivity, enhanced market access, inclusive economic growth and sustainable national development.
Source: NBC Bank Tanzania
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