Browsing: Africa Continental Free Trade Agreement (AfCFTA)

Tanzania beekeeping industry alone is estimated to generate about US$ 1.7 million each year from sale of honey and beeswax. Photo/bee&bloom

Factors for the low adoption rate surround the lack of sector information. For example, the researchers point out that there is ‘uncertainty among potential adopters with respect to potential gains vis-à-vis the cost of adoption.’

Other factors include the cost of adoption and use of modern agriculture technology and lack of adequate knowledge on how to use modern agriculture technology when it is available.

Introduction of modern agriculture technologies in beekeeping is expected to enhance efficiency along with beekeepers’ earnings and welfare in Tanzania. This is because about 99%, beekeeping in Tanzania is done by small scale beekeepers who use traditional beehives made of logs, barks and guards.

Even the harvesting process is very rudiment using fire and smoke to keep bees away, a hazardous trade especially considering that most traditional beehives are kept high on trees.

A statement posted by Equity Bank on its website indicated the plan hopes to revive the economy in the continent following the COVID-19 pandemic that halted operations in different sectors leading to the loss of jobs.

In this, AfCFTA and Equity will work on the private sector economic recovery and resilience stimulus plan where the lender has seeded with a $ 6 billion (Sh 678 billion) fund focusing on food and agriculture, extractives, manufacturing and logistics, trade and investments, social impact, health and environmental investments.

Equity plans to finance over five million micro, small and medium-sized businesses (MSMEs) and 25 million vulnerable households by 2025 to support the creation of 50 million jobs.