Tanzanian billionaire Rostam Aziz lobbies AfDB to increase agriculture funding

Tanzanian billionaire Rostam Aziz has encouraged the African Development Bank (AfDB) to provide appropriate funding to help Tanzania’s $12.7 billion agriculture sector adapt, according to a report by The Citizen.

The tycoon’s appeal was intended to assist the country in becoming a major food exporter, as well as to help the globe meet its food needs.

While the transition of Tanzania’s agriculture industry from subsistence to commercial farming remains the country’s biggest issue, the Agriculture Ministry has announced intentions to invest up to Ksh1.2 trillion ($10.3 billion) yearly in irrigation farming.

Tanzania’s goal is to increase irrigated farming by more than 50 percebt in the next 10 years, as part of the country’s agricultural reform program, according to the government.

During their discussion in Washington, Aziz reminded AfDB President Akinwumi Adesina that Tanzania had significant potential for producing both food and cash crops for domestic consumption and export.

Aziz, who is part of Tanzanian President Samia Suluhu Hassan’s U.S. mission, stated that Tanzania’s agriculture needed major investment to improve crop output and rebuild the sector’s value chain.

“It is high time we stopped singing about Tanzania’s potential, and invest to transform the country’s agricultural value chain,” he said.

Agriculture Minister Hussein Bashe reacted to the news by saying he had a productive meeting with Adesina in Dar es Salaam last month.

“We discussed priority areas of cooperation such as extending credit facilities to farmers, strengthening irrigation, reducing post-harvest losses, and scaling up conservation of traditional seed crops,” he said.

Other high-priority areas include the government’s ambitious intention to invest Ksh1.5 trillion ($12.9 billion) in irrigation agriculture over the next ten years.

Despite the fact that the country has an average food surplus of 25 percent, Bashe claims that post-harvest losses are above 30 percent due to a lack of suitable crop preservation facilities.

“The government has reviewed its investment in storage facilities, and has shifted from investing in regional multibillion-shilling storage facilities to building rural storage facilities in order to bring the facilities closer to farmers,” said Bashe, who is also the Nzega Urban MP.

Traditional seed varieties may become extinct as a result of technical advancements, he said, adding that the government was working with the AfDB to increase the number of traditional seeds and ensure proper commercialization.

Aziz signed multiple investment agreements, including a $1-billion arrangement to manufacture wheat and soya between Taifa Group and Northern Feed & Company, an American investment firm.