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CRDB, STAMICO sign MoU on concessional loans for artisanal miners

CRDB, STAMICO sign MoU on concessional loans for artisanal miners

CRDB Bank has signed a Memorandum of Understanding (MoU) with the State Mining Corporation (STAMICO) which will help Artisanal Miners to have access to concessional loans.

The deal was inked by CRDB's Director of Corporate Banking, Prosper Nambaya, on behalf of the bank’s Managing Director and STAMICO Acting Director General, Dr Venance Mwasse, during the 24th Annual General Meeting for Tanzania Women Miners Association (TAWOMA) held in Dodoma.

The TAWOMA meeting was attended by women Miners from across the country as well as other stakeholders from the mining sector.

Speaking after the signing of the MoU, CRDB's Director of Corporate Banking said the financial institution was was well committed to empowering artisanal Miners especially women through concessional loans so as they can boost their income as well as contributing to the country's economy.

“We have also complemented the government's efforts in executing flagship projects as well as ensuring that artisanal miners are identified in the country,” said the Director.
Speaking at the event, the Minister for Minerals Dotto Biteko asked small scale Miners to use proper mining methods in order to add value in the mining sector.

The minister noted that it was high time for the Miners in the country to abide by all laws governing the sector so as to contribute to the country's Gross Domestic Product (GDP) as well as boosting individual income.

He further asked women Miners to shun outdated myth that mining activities were specially for men, insisting that they had the rights to conduct their mining activities without facing bottlenecks.

“In ensuring that women are conducting their mining activities, the government has put up proper plans to empower women so that they do not face financial challenges in the course of exercising their duties.

In her remarks, TAWOMA Secretary General, Salma Ernest, said that one of the challenges that women Miners were facing was frequent power woes at different mining centres.

She said that there was also a challenge of limited market for Minerals as well as inadequate modern equipment for mining activities.

According to Ms Ernest TAWOMA was well committed to uniting all women miners in the country so that they can help the government in attaining economic development

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Author: DAILY NEWS Reporter

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