M a r k e t N e w s

Tanzania: Danish Envoy Urges More Investment in Agriculture

Posted on : Tuesday, 12th April 2016

Dar es Salaam — Proper investment in agriculture using creative and innovative techniques can bring about the desired economic changes in the country.

This, however, requires stakeholders to identify factors that can be used to attract more youth to engage in the sector.
Denmark evoy to Tanzania, Mr Einar Jensen, gave the advice yesterday while launching the youth agrifood companies incubated at the Sokoine University Graduates Entrepreneurs Cooperatives (Sugeco).
The firms that were launched were Wylo Food and Company and Solartunda Food Enterprise.
He said Tanzania was a country blessed with huge agricultural opportunities, but the challenges included the length of time it took to realise profits from invested capital.
Mr Jensen urged financial institutions to explore possibilities of supporting entrepreneurs in agri-business so that they make quick gains from engagement in the sector.
"Banks should support creation of agri-business start-ups, increase the rate of their survival and ensure their growth," he said.
The envoy noted that it would be difficult for Tanzania to transform its economy and become a middle income nation by 2025 as per its Development Vision 2025 without fully developing the agricultural sector.
Rufiji Basin Development Authority (Rubada) acting director general Dr Deogratius Lwezaura said since last year they have partnered with Sugeco in developing its youth centre located at Mkongo Village in Rufiji District.
Sugeco executive director Revocatus Kimario told reporters that about 900,000 youth enter the labour market annually and complicating matters because there were only a few job openings.
"Sugeco calls upon graduates from different universities to consider going into agriculture. This sector offers immense opportunities compared to the formal sector. Using agriculture, we can multiply our fortunes," he explained.

Source : allafrica.com
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