THE NATIONAL Social Security Fund (NSSF)
Director General, Prof Godius Kahyarara (right) hands over a dummy
cheque to the National Development Corporation (NDC) Board Chairman Dr
Samuel Nyantahe being an advanced loan of 4bn/-(2.1 million US dollars)
for the expansion of Tanzania Biotech Product Limited located in Kibaha,
Coast Region during a brief handover ceremony held at Kibaha over the
weekend. Witnessing are the Minister of State in the Prime Minister’s
Office (Policy, Parliamentary Affairs, Youth, Employment and persons
with disability) Ms Jenista Mhagama (centre), Kibaha District
Commissioner Assumpta Mshana (second right), Azania Bank Director of
Legal Services Mr Geofrey Dimoso (second left) and the plant’s Acting
General Manager Samwel Mziray. (Photo by Staff Photographer)
NSSF Director General Prof Godius
Kahyarara said the fund offered the loan after taking into consideration
number key issues to determine project’s worthiness and payback.
“We normally consider a number of
criteria, including profitability of the projects, their necessity,
security and the goals of the projects in improving the country’s
economy,” said Prof Kahyarara.
The factory is designed to produce
pesticide that kills malaria mosquitoes and is under National
Development Corporation (NDC). Minister of State in the Prime Minister’s
Office (Policy, Parliamentary Affairs, Youth, Employment and Persons
with disability) Ms Jenista Mhagama said the plant will speed up the
fight against malaria by 90 per cent.
“This company is one of its kind in
Africa and its efficiency will not only benefit Tanzanians, but also the
entire continent. It will also bring in foreign currency,” she said
during the soft ceremony.
On his part, the NDC Board Chairman, Dr
Samuel Nyantahe said the loan will enable the plant, constructed in
collaboration with M/s LABIO-FAM SA of Cuba to increase its production
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