Minerals Minister injects 5.2tri/- to boost business, services in mining sector

MWANZA: THE Minister for Minerals, Mr Anthony Mavunde has encouraged the Tanzanians to grab the existing opportunities in the mining sector, including utilization of the available 5.3tri/- fund for service deliverance and goods supply.

 The amount has been made available by especially foreign investors to have essential services, the Minister has said during the on-going fourth local content implementation Forum here.

“There are lots of opportunities for Tanzanians in the mining sector, be it food, beverage and working equipment supply, as well as transport and sanitation services, to mention a few,” he said.

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Recalling the way majority Tanzanians suffer from lack of capital, Mr Mavunde encouraged financial institutions to provide loans, to smooth local content implementation.

NMB Bank Head of Business Department, Mr Alex Mgeni, said that the institution values the sector’s contribution to Tanzania’s economy, a reason it encourages loans provision to local investors.

According to him, over 200bn/- in loans have been already offered so far since 2021, he said, affirming that the disbursement is on progress through different Bank’s loan products.