Tanzania has been named one of the top ten African countries with the largest investments in Mozambique over the past ten years.
The President of Mozambique, Filipe Nyusi, revealed this on Wednesday, July 3, 2024, while officiating the 48th International Trade Fair (DITF), famously known as Sabasaba.
Highlighting the economic partnership, President Nyusi noted that between 2018 and 2023, the total external trade between the two countries in imports and exports reached $250 million, with a cumulative flow of $143 million from 2013 to 2023.
Explaining the role of DITF, President Nyusi emphasized that the exhibition will stimulate entrepreneurial growth, fostering economic development for both nations through business investments and private sector participation from both countries, along with foreign capital.
Also read: Nyusi commends Tanzania, SADC
On her part, President Samia Suluhu Hassan lauded the exhibition, attributing its success to the government’s efforts in strengthening national, regional, and international cooperation, which has boosted the inclusive economy.
Tanzania’s President said that in 2023, the Tanzania Investment Centre (TIC) registered 504 projects worth 5.68 billion/-, with exports increasing to 17.38 trillion/- last year from TZS 12.3 trillion in 2019.
Dr. Samia also promised to continue developing and completing infrastructure projects to facilitate business operations and transportation while encouraging local businesses to seize the exhibition opportunity to learn and prepare to serve larger domestic, regional, and international markets.
Source: allafrica.com
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Tanzania: Samia Hands Over NBC’s 354m/ – Crop Insurance Compensation to Farmers Affected By Hailstorms
President Samia Suluhu Hassan, has handed over a cheque of 354m/- from the National Bank of Commerce (NBC) as compensation to tobacco farmers, who were affected by hailstorms during the previous farming season in various regions across the country.
Handing over the cheque in Dodoma, the compensation is part of the crop insurance service provided by NBC in collaboration with the National Insurance Corporation (NIC).
Furthermore, President Samia has also handed over health insurance coverage to members of the Lindi Mwambao Cooperative Union based in Lindi Region, through the Farmers’ Health Insurance service provided by the bank in partnership with Assurance Insurance Company.
While visiting the bank’s pavilion at the Nanenane Agricultural Exhibition and being received and briefed by the bank’s Managing Director, Mr. Theobald Sabi, she said: “This crop insurance is one of the crucial solutions in ensuring farmers have a reliable income, without fear of challenges such as natural disasters, including hailstorms.
“I call upon all farmers in the country to make the best use of this important opportunity by accessing these kinds of insurance services. I also highly commend NBC and all the stakeholders participating in this programme.”
Elaborating further on the crop insurance service, the Minister of Agriculture, Hussein Bashe, stated that it will help to recover the loss farmers incurred, especially in various calamities beyond their control.
Citing them as floods, fires, and hailstorms, which have significantly affected the well-being of farmers and caused some to be reluctant to invest in the crucial sector, Mr Bashe added: “However, our President, this step by NBC is just the beginning, as this is the second year since they started offering this service, and the results are already visible.
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“As the government, we promise to continue supporting the wider implementation of this service, with the goal of ensuring that this crop insurance service reaches more farmers.”
ALSO READ: NBC participates in TFF 2023/24 awards, promises to enhance competition
On his part, Mr Sabi said that the farmers who benefited from the compensations are from 23 primary cooperative unions in the regions of Shinyanga, Geita, Tabora, Mbeya, Katavi, and Kigoma.
He added: “In addition to these insurance services, as a bank, through this exhibition, we have continued with our programme of providing financial education and various banking opportunities to farmers, alongside offering them various loans, including loans for agricultural equipment, particularly tractors, to eligible farmers.:
At the NBC booth, President Samia also had the opportunity to be briefed on the various services offered by the bank to the farmers namely crop insurance and health insurance services.
There, the President had the chance to speak with some of the beneficiaries of the services, including the Vice-Chairman of the Lindi Mwambao Primary Cooperative Union, Mr. Hassan Mnumbe, whose union has been provided with a health insurance card from the bank.
Source: allafrica.com
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