Browsing: Farming in Tanzania

Yara Tanzania, Crop Insurance, Agriculture in Tanzania

Can crop insurance transform farming in Tanzania?

Industry and Trade
  • The project, launched in 2022, cuts across multiple services offering farmers a cushion to be stable and profitable.
  • The project aims to support over 300,000 farmers in 2023 with the partnership.
  • At least $140 million of loss is faced by Tanzania due to drought annually.

Ground-breaking crop insurance has been introduced in Tanzania to cover crop loss and safeguard farmer earnings. The crop insurance was introduced by a fertilizer manufacturing company, Yara Tanzania, in collaboration with Jubilee Insurance.

The transformative solution dubbed ‘AfricaConnect’, leverages technology to offer farming solutions as farmers in Africa grapple with the challenges of climate change.

The project, launched in 2022, cuts across multiple services offering farmers a cushion to be stable and profitable.

According to Yara Tanzania, Managing Director, Winstone Odhiambo, AfricaConnect has enrolled at least 83,000 so far, accessing crucial funding solutions, high-quality and dependable fertilizer, extension services, and a ready market for their …

Agriculture in Tanzania

Can Tanzania’s agriculture industry feed East Africa?

Countries

The CRDB alone offers at least 40 per cent of all loans issued to the sector and also unveils a vast opportunity package for local farmers via financing climate-resilient and adaptation projects in Tanzania, making available $200 million in agri-loans for the taking.

According to The Citizen, the adaptation projects target six million beneficiaries in Tanzania’s agriculture industry.

Top bankers are now taking agriculture as a viable product to invest in and develop. Tanzania’s best-performing retail bank, NMB, has set up a specialised agri-business department to serve and effectively attend to all farming financial aspirations.

Tanzania’s agriculture ministry has ramped up funding in research and development from $3.15 million to $4.86 million in the financial year 2022/2023. Further, irrigation is taking a new shift in Tanzania. According to the ministry, the area irrigated has increased from 695,045 hectares in 2020/2021 to 727,280 hectares in 2021/2022.…

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