The Minister of Finance of the Government of the United Republic of Tanzania, Mr. Ambassador Khamis Mussa Omar (Mb.) has praised the Tanzania Agricultural Development Bank (TADB) for its effective operation and fostering inclusive and sustainable development that stimulates reforms in the agricultural, livestock, fisheries and agro-processing industries in the country.
Mr. Ambassador Omar made the commendations when he met and held talks with the Bank’s delegation led by its Executive Director, Mr. Frank Nyabundege and received a report on the implementation of the Bank’s responsibilities, at the Ministry of Finance Offices, Treasury Squire, in Dodoma.
Mr. Ambassador Omary commended TADB for a good report that showed the Bank’s successful journey, the good trend of the financial balance sheet and significant results in developing the agricultural sector, especially in its investment in the development of agricultural, livestock and fisheries industries.
He advised the Bank to direct its plans and strategies towards developing other food and commercial crops with higher value in the international market so that farmers can benefit more from the agricultural, livestock, fisheries and forestry sectors, including beekeeping.
Mr. Ambassador Omary promised to continue to work closely with TADB in the implementation of its medium-term strategy to increase the productivity of the agricultural sector in the country’s economy.
Presenting his financial statements and the Bank’s medium-term strategy (2025-2030), the Bank’s Managing Director, Mr. Frank Nyabundege, said that TADB has grown rapidly from having deposits of 362.8 billion shillings (in 2021) to 1.3 trillion shillings (in 2025).
He said that through this operational efficiency, TADB has successfully provided loans worth over 1.3 trillion shillings, benefiting over 1.9 million farmers, pastoralists and fishermen since its establishment in 2015.
He thanked the Government through the Ministry of Finance, for enabling the Bank to achieve its goals by providing it with capital, which shows the political will and commitment of the Sixth Phase Government in developing the agriculture, livestock and fisheries sectors.
Mr. Nyambudege requested the Government through the Ministry of Finance to continue to enable the Bank with capital through the Government’s main budget as well as guaranteeing it so that it can access international markets that lend money to lend to farmers.
The session was also attended by the Deputy Minister of Finance, Engineer Mshamu Ally Munde, and other senior leaders of the Ministry of Finance and the Tanzania Agricultural Development Bank-TADB.
