The Southern Agricultural Growth Corridor of Tanzania (SAGCOT) has announced a plan that will produce and estimated USD 2 billion in annual farming revenues while also creating 420,000 new jobs over the next 15 years.
During the first SAGCOT Annual Forum that was held in Dar es Salaam from December 4-5, 2014, the CEO of SAGCOT, Geoffrey Israel Kirenga, indicated that they will be looking to turn 350,000 hectares of land into profitable farmland and turn 100,000 smallholder farmers into commercial farmers.
“We have strategies to make the plans successful by 2030, the plan involves various stakeholders from the private sector in partnership with the government,” said Mr. Kirenga.
To date, SAGCOT has registered more than 70 partners with a number of them have pledging approximately USD 1 billion of sustainable investments in Tanzania to support the initiative while other development partners have also pledged considerable public investments to help implement the plan.
SAGCOT is a public-private partnership that aims to further develop the Tanzania agricultural sector through responsible agribusiness investments in the country’s southern corridor.
The SAGCOT Centre Ltd serves as a broker and vehicle for the development of partnerships between registered partner organizations to encourage the development of inclusive, sustainable and viable agricultural value chain initiatives to engage smallholder farmers.