Dar es Salaam, March 29 -- DODOMA: CONTROLLER and Auditor General (CAG), Charles Kichere has said the government needs to boost the capital of the Tanzania Agricultural Development Bank (TADB) to meet the capital requirement by the regulator.

He said during the handover of the 2022/23 financial year report to President Samia Suluhu Hassan in Dodoma yesterday that the bank is undercapitalised with only 88.12bn/- capital against the requirement of 200bn/- as per the banks and financial institutions guideline for 2020/21.

“The agricultural bank is facing a major challenge of the capital shortage, thus calling for the government to continue injecting more money to improve the agricultural lenders capital,” said Mr Kichere at the...