The National Bank of Commerce (NBC) in collaboration with Mbogo Ranches Company have officially launched a friendly loan program for livestock farmers for the purchase of quality and modern livestock seeds.
This agreement signed at the 2025 International Livestock Exhibition in Bogo provides an opportunity for livestock farmers to obtain quality cattle, goats, and sheep on favorable loan terms through the bank, a move aimed at stimulating the development of the livestock sector in the country.
Speaking at the signing ceremony, NBC's Director of Retail and Large Clients, Elibariki Masuke, said the initiative is part of the bank's efforts to strengthen the inclusive economy through formal financial services. He explained that livestock farmers interested in any seeds from Mbogo Ranches will be enabled to obtain loans through NBC branches on terms of paying in installments at the same farm gate price.
For his part, Mbogo Ranches Director Naweed Mulla said the program is a solution for livestock farmers who were unable to afford the high cost of these quality seeds due to the challenges of production costs and importing livestock from abroad. He explained that through this partnership, many livestock farmers will now be able to switch from low-yielding indigenous seeds to high-yielding seeds.
Mulla called on pastoralists to start formalizing their activities including opening official bank accounts, obtaining TIN numbers and registering legally to access such opportunities easily. He stressed that formalizing pastoral activities is an important step towards modern pastoralism which requires formal financial and commercial methods and infrastructure.
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Editor | John Mbalamwezi
