PASS Trust gets Recognition for Contribution in the agricultural Sector at

the start of the 2020 NaneNane Celebrations

The Private Agricultural Sector Support- PASS Trust has been recognised for
its immense contribution and support in the agricultural sector.
Vice President Mama
Samia Suluhu Hassan
while opening the 2020
nane nane celebrations
in Simiyu Saturday said
PASS Trust was among
few selected institutions
that the government had
recognized for their
continued support in the
growth of the
agricultural sector in
Tanzania.

PASS Trust whose

objective is to facilitate access to finance and business development services for
agribusiness entrepreneurs in Tanzania, has been assisting clients in developing
solid and bankable investment project write ups as well as facilitating access to
finance through credit guarantee schemes with commercial banks covering the
entire agribusiness value chain.
“I highly recognize the efforts of various private sector institutions among them
PASS Trust for their contribution and support towards the agricultural sector in
the country” Said the vice President.
Over the years, the number of PASS beneficiaries has been increasing with
PASS supporting agribusiness entrepreneurs with upto 60% credit guarantee in
PASS collaborating banks as well as up to 80% guarantee for women
entrepreneurs.

Statistics from the Bank of Tanzania

(BOT) 2020 indicate an upward
growth in PASS’ contribution
towards agricultural lending in
Tanzania.
According to BOT, out of 8,285,831
loans given by the banking industry
to the country’s agricultural sector
between the Board of Trustees Chairman
Prof Andrew Temu

years 2013 to November 2019, a total of 956,298 loans were PASS guaranteed.
Of the 7 years under scrutiny, BOT puts 2018 as the year that saw PASS give
the highest guarantees standing at 217,951 out of 952,884 loans provided by the
entire banking sector in the country, representing 23% of the loans given.

“I am indeed delighted with the performance that PASS Credit guarantee

scheme continues to register with time, contributing significantly to the growth
of the country’s agricultural sector”Said Prof. Anfrew Temu, PASS Board of
Trustees Chairman in a statement delivered through the institutions ‘annual
report.
Since it began its operations in the year 2000, an estimated 1.8Million
agricultural entrepreneurs have benefited from PASS guaranteed loans,
amounting to a total of TZS. 844.9 billion shillings with over 2.5 million jobs
being created over the same period.
“This demonstrates and proves the catalyst
role that PASS is playing in boosting the
sector through credit guaranteeing “Adds
Pro. Temu.
PASS managing director Nicomed Bohay

PASS MD Nicomed Bohay

says that in line with the country’s industrialization agenda, at least 15 sub
sectors have been supported among them the agro processing sector which
composed of the highest value of the total amount of loans approved in the year
2019 only.
“I am glad that PASS Trust has been able to carry out its mission and contribute
towards poverty reduction in Tanzania. We are grateful to the governments of
Tanzania, Denmark and Sweden for the support given to us” Said Bohay in the
report.
Since 2010, PASS has been participating in Nane Nane exhibitions, meeting
key partners and stakeholders. This year, PASS is exhibiting at the National
level Simiyu as well as Mbeya and Morogoro.