NMB to bankroll Tarime coffee farmers

Coffee farmer
NMB Bank intends to offer 800m/- to 10 Agriculture Marketing Cooperatives Societies (AMCOS) for buying coffee from several villages in Tarime District, Mara Region.

The bank plans to dish out the money during this coffee buying season that runs from May to March next year through its Warehouse Receipt System of Finance (WHRF) initiative that aims to enable farmers fetch good prices for the crop.

“Some 365m/- has already been allocated for four societies and they will start getting part of it for mobilisation any time from now,” NMB Lake Zone Value Chain Agribusiness Manager, Mr Samuel Mshote, said.

“Our aim is to provide 800m/- support to 10 societies to buy coffee from their members and other neighbouring farmers,” Mr Mshote told the ‘Daily News’ shortly after facilitating a seminar organized by NMB to educate targeted societies.

Participants discussed and laid out strategies against challenges that hampered the societies from spending 500m/- allocated for them by the bank last season.

“This is the second time we are giving societies funds to buy coffee. Last season we allocated 500m/- but they used 200m/- of it due to a number of challenges and that is why we are here to address them so that they can this time use the whole money to make good money,” Mr Mshote said.
Source: The Daily News,http://www.dailynews.co.tz, reported by Mugini Jacob in Mara
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