FSTD stands for Financial Sector Deepening Trust. It is based in Tanzania and focuses on the agriculture market. This Trust has the sole motto of helping farmers with their agricultural activities. It provides rural and agricultural finance to them. The Trust supports farmers that face many financial challenges when it comes to farming activities. It works with a large number of partner donors to help them reach their production targets and meet no constraints when it comes to the bountiful produce of crops.
Providing finance for better agricultural produce
The Trust ensures that farmers receive the finance they need for increasing productivity of crops. It also provides them with a host of financial products that they can choose from. The representatives of the Trust take the onus of spreading awareness and educating these farmers about the benefits of financial products that they can use for better and improved agricultural production.
The welfare of the farmers is also taken into account. The Trust and its representatives work together with their donor partners to ease transactions so that the farmers can make optimal use of them. The primary goal of this intervention is to increase the volume of financial contribution to the agricultural sector in Tanzania.
It is important for people to be aware of the era of digital finance so that they can save time when it comes to banking. The advent of mobile technology has helped people become aware of digital finance in the urban areas. They can make use of their smartphones and buy services and products from a single platform. However, their rural counterparts still lack the knowledge and the resources to focus on the benefits of digital finance and how the use of mobile technology can make life simple for them. FSDT focuses on spreading awareness and knowledge about digital finance and how it can hugely benefit the farmers.
Finance for small to medium scale businesses
It is important for the nation to help small to medium scale industries grow in the market. This is why FSDT also focuses on providing finance to these enterprises that play a significant role when it comes to contribution to the GDP of the nation. The Trust works with banks and other institutions to understand and spread new ideas for better development and faster growth. The concept of innovation management is encouraged to these enterprises so that they can bank on ideas to surge to the next levels of growth.
Insurance is another area that FSDT focuses on when it comes to the management of risk and coping with different mechanisms in the rural sector. The professionals here ensure potential customers understand the benefits of insurance and spread awareness on the need for insurance in the rural and agricultural sector. Most people are not aware of insurance, and there are a few distribution channels in Tanzania. The Trust takes the onus of spreading education about insurance products and achieving the targets of creating the demand for insurance with innovative approaches.