Tanzania Urges Financial Institutions to Support Young Agripreneurs

The Tanzanian government has called on banks, local authorities, and the private sector to increase support for young agribusiness entrepreneurs, citing the potential for job creation, income growth, and economic development. This appeal was made during the distribution of 40 million Tanzanian shillings in grants to 40 young entrepreneurs from Dodoma and Singida under the Generation Food Accelerator initiative. The initiative aims to transform agricultural potential into successful enterprises by providing access to capital, skills, technology, business advice, and markets.

Eng Athumani Kilundumya, Deputy Permanent Secretary in the Ministry of Agriculture, emphasized that agribusiness encompasses more than just farming, including seed production, machinery services, input supply, storage, processing, and marketing. He noted that opportunities exist not only in farming but also within the entire value chain. Agriculture contributes approximately 26.4 per cent of the country's GDP and sustains over 65.5 per cent of the population through employment. Kilundumya encouraged banks to enhance financial literacy and improve accessibility to loans for young entrepreneurs with promising business ideas.

The Generation Food Accelerator initiative is part of the Vijana Kilimo Biashara project, executed by Rikolto in partnership with the World Food Programme and funded by the Mastercard Foundation. The project targets individuals aged 18 to 35 engaged in sorghum, sunflower, vegetable, and fruit value chains. In this latest phase, 100 entrepreneurs were selected out of 731 applications, with 40 successful applicants receiving grants to establish or expand their businesses. An additional 10 were awarded for innovation and growth.

Isaac Mathe, Supply Chain and Logistics Officer at the WFP, reported that the programme has provided young entrepreneurs with crucial mentorship and networking opportunities. He noted that 53 per cent of participants were women and that 38 businesses had formalised their operations, resulting in the creation of 43 new jobs. This development indicates a positive impact on the lives of young people and the overall economy.

Mr Shukuru Tweve, Project Coordinator for Rikolto East Africa, highlighted the importance of ongoing collaboration between the government, financial institutions, the private sector, and development partners. He emphasized that this programme aims to establish resilient food systems where young people are not just beneficiaries but also innovators and leaders of economic transformation. Collaboration is crucial to ensure access to capital and technology for young people.

The programme's conclusion in Dodoma saw Kilundumya urging young people to take action and not just be active on social media platforms. He called on local government leaders to assist youths in accessing loans earmarked for women and young people, cautioning against bureaucratic hurdles that may discourage applicants. By doing so, the government hopes to encourage more young people to participate in agribusiness.

The Tanzanian government's efforts to support young agribusiness entrepreneurs are expected to have a positive impact on the country's economy. With the right support and resources, young people can play a significant role in driving economic growth and development. Key points include:

Key points

• The Tanzanian government has urged banks and private sector to enhance support for young agribusiness entrepreneurs.
• The Generation Food Accelerator initiative has provided grants to 40 young entrepreneurs from Dodoma and Singida.
• The programme aims to establish resilient food systems where young people are innovators and leaders of economic transformation.