TANZANIA – The Tanzania Agricultural Development Bank (TADB) has joined forces with the Ministry of Livestock and Fisheries to embark on a transformative initiative aimed at revitalizing the nation’s fisheries sector.
In a move to empower local fishermen, TADB will provide 14 modern fibre fishing boats, valued at US$480,000 1(1.2bn/-), to fishermen in Tanga.
Dr Kaanael Nnko, the Finance Director of TADB, announced the partnership, emphasizing that the initiative is aimed at benefiting Fishing Cooperative Organizations (FICOs), women and youth community groups (CBOs), individuals, and companies engaged in fishing activities.
“In this first phase of the project, a total of 160 boats valued at US$4.436 million (11.09bn/-) will be provided to fishers across the country. These boats come in various sizes, ranging from five meters to fourteen meters,” Dr. Nnko explained.
The Minister for Livestock and Fisheries, Abdallah Ulega, highlighted the significance of TADB’s collaboration in increasing access to credit for sustainable fisheries projects.
He revealed that, in the current year alone, TADB has been allocated a total of US$10.068 million (25.17bn/-) to be disbursed at a zero percent interest rate to various beneficiaries within the fisheries sector.
Minister Ulega expressed gratitude towards President Samia Suluhu Hassan’s efforts to boost the country’s economy and highlighted that these zero percent interest loans were unprecedented in the fisheries sector.
He commended TADB’s management for their precision and collaboration with the Ministry.
“The government will continue to work with all key stakeholders in implementing its mandate, to ensure the availability of adequate tools, resources, financing and technical expertise contributing to livestock and fisheries sub-sector transformation in the country,” he said.
Zanzibar’s fishing industry thrives under President Mwinyi’s leadership
Meanwhile, in Zanzibar, the fishing industry has been on a positive trajectory, with President Hussein Mwinyi’s leadership showing remarkable progress over the past three years.
According to Dr. Aboud Suleiman Jumbe, the Permanent Secretary in the Ministry of Blue Economy and Fisheries fish production in 2020 amounted to 38,107 tons, with a value of US$82.160 million and by September 2023, it had increased to 61,794 tons, with a value of US$156.54 million.
“President Mwinyi’s commitment to improving the fisheries sector has been instrumental in driving these positive changes, and the government continues to work with development partners to further enhance the industry,” he stated.
“The sector is set to benefit from new processing facilities, research initiatives, and various agreements with development partners aimed at supporting fishery development in the region.”
