Tag: agricultural financing

Tanzanian meat distributor acquires US$1.9m financing from TADB to boost production

Frank

TANZANIA – The Meat King Fish Distributor factory in Tanzania has clinched Tz4.5bn (US$1.9m) loan financing from Tanzania Agricultural Development Bank (TADB) to boost production and promote the welfare of farmers, herders and fishermen. The meat company suffered business loss between March and June due to the Covid-19 pandemic after the government ordered closure of hotels and other facilities in the hospitality industry. It is currently working hard to raise production in order to meet clients’ demands following reopening of the hotels and restaurants, reports Daily News. The loan, according to the…

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Ghana procures 1,300 outboard motors worth US$3.4m for fishers funded by ADB

Frank

GHANA – The Agriculture Development Bank (ADB) has pre-financed the purchase of 1,300 outboard motors for the Coastal Development Authority (CODA) and the Ministry for Fisheries and Aquaculture Development in Ghana at a cost of GH¢19.8million (US$3.4m), aimed to support the country’s fisheries sector. The outboard motors used to propel the boats will be sold to the local fishers at highly subsidized prices since ADB absorbed all the related cost which amounted to about GH¢7million (US$1.2m), reports Ghana Web. Japan Motors and Tri-continental Trade Incorporated aided the bank in the importation of…

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