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| 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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