Tanzania, May 16 -- Dar es Salaam. Azania Bank and an apex cooperative union for tea farmers signed a memorandum of understanding (MoU) on May 16, 2024, that seeks to finance tea production in the country.

The Tea Board of Tanzania facilitated the MoU by allowing the opening and maintaining of a specific consolidated account to be known as the Dunduliza Account for financing tea production in the country.

The account will be opened for the purposes of facilitating tea farming activities in the country.

"The bank conducted research that enabled us to travel across the country to learn and assess the challenges facing the tea farming industry," said Azania Bank head of agribusiness unit, Mr Augustino Matutu.

"We identified that one of t...