The Tanzania Agricultural Development Bank has increased its dividend payment to the government from 500 million shillings to 8.4 billion shillings, according to the Parliamentary Standing Committee on Public Investments (PIC). The committee's Chairperson, Ojambi Didas Masaburi, commended the bank for strengthening its operations during a meeting in Dar es Salaam, saying the higher payout reflected improved efficiency in managing and using public capital.
Masaburi noted that the PIC has a responsibility to ensure institutions that receive public funds protect and grow those investments while generating greater returns for Tanzanians. He pointed out that TADB has made significant progress since 2015, when it faced serious challenges that threatened its survival. Despite those difficulties, the bank has safeguarded the 60 billion shillings capital invested by the government while building its capacity to contribute to government revenue.
To expand financial services for farmers, TADB has opened eight zonal offices in Kagera, Ruvuma and Kigoma regions. TADB Board Chairman Ismail Andulile said the committee directed the bank to ensure loans reach smallholder farmers, particularly in rural areas. The bank's leadership acknowledged that extending financial services to farmers at grassroots level would help improve agricultural activities, increase production and strengthen their economic well-being.
The bank's management said it has received various recommendations from the committee and pledged to implement them. Reaching smallholder farmers and other citizens seeking agricultural loans was identified as a key priority. TADB said it would continue collaborating with commercial banks as important partners in extending financial services to farmers while strengthening communication and cooperation to improve the efficiency of agricultural lending across the country.