Tanzanian minister urges cooperatives to finance production
By the AFREEQUE newsroom, based on Mwananchi
Tanzanian Agriculture Minister Daniel Chongolo has called on savings and credit cooperatives to invest more of their members’ funds in productive sectors rather than limiting themselves to loans. The approach is intended to support agriculture, livestock, fishing, industry and trade, according to Mwananchi, which reports his remarks at a congress in Dar es Salaam.
Tanzanian Agriculture Minister Daniel Chongolo has called on savings and credit cooperatives, known by the acronym SACCOs, to direct their members’ savings towards productive investments rather than focusing solely on loans. He asked them to create financial services suited to productive sectors to boost employment, incomes and sustainable economic growth, Mwananchi reports.
According to the minister, affordable financial services tailored to farmers’ needs should enable them to invest in inputs, modern technologies, agricultural machinery and crop processing. This approach echoes the call made to African cooperatives to invest savings and create jobs in Tanzania.
The rest of this article is for subscribers.
Try AFREEQUE!
12,000+ readers already get the AFREEQUE newsletter
- Every article in full: all the news from Africa, summarised and easy to read
- A local source in 52 of the continent’s 54 countries
- 100% independent: no advertising, no shareholders
- The satisfaction of supporting an independent African news outlet that serves its readers
Discovery offer
€1
for 15 days
then €9.99/month
Try it for €1No commitment · cancel in one click
New subscribers only
🔒 Secure payment with:
Already a subscriber? Log in
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
