The minister of Agriculture, Hon. Hussein Bashe (Mb) has congratulated NMB Bank for continuing to collaborate with farmers in the country in raising the Agricultural Sector, especially building an insurance system for each crop due to its producers.
Bashe said this at the NMB Bank Headquarters, in Dar es Salaam on November 13, 2024 when he was handing over a check worth 117 billion shillings as compensation to tobacco farmers in Tabora Region.
“Approximately 2,226 farmers from 22 AMCOS will go to get compensation after experiencing the challenge of rain accompanied by stones and affecting the Tobacco crop in the farming season for the year 2023/2024,” explained Hon. Bashe.
He added that NMB Bank in collaboration with UAP Insurance have continued to do good work for farmers in the country in ensuring that farmers continue with safe farming activities without worry. The compensation given to those farmers will continue to make farmers have the confidence to join agricultural insurance.
And the Chief Executive Officer of NMB Bank, Ms. Ruth Zaiguna has said that for this farming season in 2024/2025, the NMB Bank has allocated more than 290 billion shillings to tobacco farmers in the country and urged farmers to continue cooperating with the bank to get low interest loans that enable the farmer to continue farming guaranteed through agricultural insurance.
In addition, the Commissioner of the Tanzania Insurance Management Authority, Mr. Baghayo Sakware has explained that the Government has a plan for an agricultural insurance scheme as well as agricultural insurance regulations to be able to fully manage insurance issues in terms of agriculture in the country. Similarly, the representative of UAP Insurance, Mr. Nelson Rwihula has urged farmers in the country to join agricultural insurance that will help them get compensation when they experience environmental disasters such as rain and floods.
Speaking on behalf of the farmers of the Inspection AMCOS, Mr. Ally Mrisho has thanked NMB Bank through insurance and promised to continue solidarity to promote the Agriculture Sector in the country.
SOURCE: Ministry of Agriculture
