Tanzania’s new latexglove factory to save Sh20 billion

Tanzania’s new latex glove factory to save Sh20 billion

Njombe, Tanzania: 

The government will save about Sh20 billion that it spends on importing surgical and examination gloves each year when a Njombe-based factory starts production five months from now. 

Construction of the latex glove plant, which is located in the Idofi area of Njombe, has reached 70 percent of its completion, and the project developer is optimistic that it will be completed and ready for production by June this year.

The factory is owned by the Medicine Store Department (MSD).

The Chief Pharmacist, Mr Saudi Msasi said during a visit to the factory by MSD board members and officials from Njombe Regional Commissioner’s office here yesterday, that the remaining tasks include fixing some machinery as well as getting accreditation and quality standards.

The factory, being built at a total investment of Sh16.7 billion, will have the capacity to produce at least 20,000 gloves per hour, which is equivalent to 10,000 pairs.

This, according to Ms Msasi, is equal to 83.4 percent of the estimated demand for gloves in the whole country.

“This factory is basically completed. The remaining issues are very minor and involve the issue of standards. We currently import 100% of our glove needs, so once completed, it will greatly help to reduce the money spent on importation,” he explained.

During its first year of operations, the glove factory is expected to collect Sh14.5 billion in revenue and the invested amount will be recouped after a period of not more than eight years.

The ctual construction of the factory started in 2020.

Speaking during the event, Njombe Regional Commissioner, Mr Anthony Mtaka urged MSD to complete the factory within the specified time, saying the factory would make it easier for people access medical supplies like gloves.

The MSD board chairperson Ms Rosemary Silaa said the factory will provide 200 direct and indirect jobs for Njombe residents.

She said the delay in executing the project was mainly due to the fact that the developer had to start with securing the necessary accreditation and standards requirements for putting up such a facility.

Njombe District Commissioner, Ms Kissa Kasongwa said residents in the area were eager to see the factory become operational sooner than later.

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Tanzania: Samia Hands Over NBC’s 354m/ – Crop Insurance Compensation to Farmers Affected By Hailstorms
Tanzania Foreign Investment News
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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.

“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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