Locals ‘to own’ Tanga Fresh

Tanga Fresh HQ in Tanga.
The annual meeting of the Tanga Dairy Farmers Cooperative Union (TDCU) has declared its intention to become the majority shareholders in the milk processing facility, Tanga Fresh, by 2015.

The meeting held on Tuesday at the Kola Prieto Hotel conference hall, in the city of Tanga directed the TDCU governing board to prepare a plan for raising the required funds to buy the shares from the current majority shareholder, DOB Foundation of the Netherlands.

TDCU holds 35 per cent of shares while the DOB Foundation holds 45 per cent of shares in the milk processing and marketing facility, registered in the Companies’ Directory since 1997. Company director Lut Zylstra and Al-noor Hussein share the remaining 20 per cent equally.

According to an existing agreement signed by all shareholders, TDCU would be given the first refusal in buying shares of the DOB Foundation if the latter wants to pull out. Tanga Fresh Limited has been a reliable market for dairy farmers in Tanga Region for many years.

The meeting, which also ushered in a new governing board led by a new chairman, Mr Salim Rajab, instructed the Board to work out strategies for mobilising dairy farmers to contribute towards the purchase of the shares by setting conditions that they would afford to raise the fund and grab the opportunity.

The members attending the annual general meeting in principle agreed that they should strive to reach the majority share of 60 per cent in the milk processing facility.

The adviser on cooperatives for the Tanga Regional Secretariat, Mr Gerald Mhina advised the TDCU to form a Savings and Credit Cooperative Society, which would be used to access to credit that could be used for the intended purpose.

A Dutch Cooperative and Dairy Experts Mission Team recently undertook a critical assessment after which it expressed its confidence that the TDCU and its 15 members could take up the responsibility of being the majority shareholders in the Tanga Fresh.
Source: The Citizen,www.thecitizen.co.tz, reported by George Sembony
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