DODOMA, Aug. 4 -- COOPERATIVE Bank Tanzania (CBT) has unveiled plans to introduce a new financing product, Ghala Pesa, which will enable farmers to use stored crops as collateral and access funds before making actual sales.

CBTs Managing Director, Mr Godfrey Ngurah, said the initiative would help farmers access working capital while waiting for auctions or buyers.

“These warehouses is sue warehouse receipts, which are regulated by the Warehouse Receipts Regula tory Board (WRRB). While waiting for the right market, farmers can access financ ing through us,” Mr Ngurah said.

He added that the bank has also introduced Coop Pesa, a mobile-based plat form enabling farmers to transact from their handsets, easing payment processing...