In September, a crucial financial linkage meeting between London Agro Factory and Tanzania Commercial Bank (TCB) was facilitated by TAPBDS in Sumbawanga, aimed at boosting maize milling operations to meet growing market demand.
The meeting was held as part of the Access to Finance support to the SME under the ongoing implementation of the Aceli Africa Technical Assistance program. The funding is intended for procuring a modern maize milling machine and working capital to scale up production.
In this mutual partinership, the factory plans to increase production from 5 to 30 tons per day to cater to both local and regional markets. TAPBDS is also supporting the company in strengthening its financial management systems as well as improving procurement processes through effective smallholder farmer engagement.
Through this program, TAPBDS offers Business Technical Support to Agri-SMEs with annual revenues of at least $400,000. The support is provided on a cost-sharing basis, with beneficiaries contributing 20-30% and the program covering the remaining 70-80%.
TAPBDS encourages similar businesses to seize this opportunity to enhance operations, boost competitiveness, and increase sales.