Coast Region, Tanzania - The Tanzania Agricultural Development Bank (TADB) has allocated a substantial sum of 1.70 billion Tanzanian Shillings to the Ruvu Irrigation Cooperative Society (CHAURU), in a move aimed at propelling and enhancing rice production within the cooperative.
Over the period spanning 2018 to the previous year, the Coast region-based CHAURU Cooperative Society has been a recipient of diverse loans from TADB. These funds were strategically utilized to upgrade essential aspects such as infrastructures, the acquisition of tractors, and procurement of agricultural inputs. The results of these investments have been notable, with the yields per acre escalating from 15 sacks of rice to an impressive 30 sacks.
Mr. Kezilahabi Jumanne, the Principal Business Officer at TADB, highlighted the positive impact of the bank's financial support during a press briefing held as part of the lender's tour to engage with its customers. He stated, "The secured loan from the bank has enabled the cooperative to make great strides as they have been able to increase their level of productivity."
The cooperative society's overall cultivation capacity also witnessed a commendable surge, progressing from 4.0 tonnes before the loan to a robust 6.5 tonnes in the current year.
Mr. Sadala Chacha, the Chairman of CHAURU, acknowledged the success achieved through the financial assistance provided by TADB. However, he pointed out existing challenges, primarily revolving around outdated rice drying methods. Mr. Chacha conveyed, "We are still using the traditional method of drying rice that does not guarantee the best quality… Plans are underway to procure modern technology that assures good quality."
In addition to the drying methods, the cooperative faces market outreach limitations, relying predominantly on nearby markets in Coast, Dar es Salaam, and Zanzibar. Mr. Chacha expressed the cooperative's ambition to expand its market footprint nationwide, aiming to be recognized as an exemplary model by 2030.
Notably, the membership of CHAURU has experienced a substantial increase, soaring from 160 to an impressive 900 members, thanks to the financial infusion from TADB. The cooperative looks forward to overcoming its challenges and contributing significantly to Tanzania's agricultural landscape.