CRDB, STAMICO ink loans deal to help miners

CRDB, STAMICO ink loans deal to help miners

CRDB Bank has signed a Memorandum of Understanding (MoU) with the State Mining Corporation (STAMICO) that will help artisanal miners access concessional loans.

The deal was inked by CRDB's Director of Corporate Banking, Mr Prosper Nambaya, on behalf of the bank’s Managingdirector and STAMICO Acting Director General, DrVenanceMwasse 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 CorporateBanking said his bank was well committed to empower artisanal miners, especially women through concessional loans so as they canboost their income as well as contribute to the country's economy.

“We have also been complementing the government's efforts in implementing flagship projects as well as ensuring that artisanal miners are identified in the country,” said

Speaking at the event, the Minister for Minerals,DrDottoBiteko asked small scale miners to use proper mining methods in order to add value in the mining sector.

The minister said it was high time forminers in the country to abide by all laws guiding the sector so as to contribute to the country's Gross Domestic Product (GDP) as well as boosting individuals’ income.

He further asked women miners to shun outdated myth that mining activities are special for men, insisting that women have the rights to conduct their mining activities without facing bottlenecks.

“In ensuring that women are conducting their mining activities well, the government has put up proper plans to empower them so that they do not face financial challenges in the course of exercising their duties.In her remarks, TAWOMA Secretary General, MsSalma Ernest, said that one of the challenges that women miners are facing is frequent power woes at different mining centres.

She said that there is also a challenge of limited market for minerals as well as inadequate modern equipment for mining activities.According to Ms Ernest, TAWOMA is well committed to unite all women miners in the country so that they can help the government in attaining economic development.



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