Youths told to seize investment opportunities in mining

DAR ES SALAAM: THE Tanzania Mining Suppliers Association (TAMISA) has urged young people and Tanzanians in general to take advantage of the various investment opportunities available in the mining sector, particularly in procurement and service provision, a market estimated to be worth approximately 5tri/-.

Chairman of the TAMISA, Mr Peter Kumalilwa, made the call on Wednesday this week while addressing journalists about the numerous opportunities available in the mining sector.

He emphasised the importance of Tanzanians fully utilising these opportunities for their personal development and for the nation as a whole.

Mr Kumalilwa stated that the procurement and service provision business offers many wealth-creation opportunities for Tanzanians due to the large circulation of money within the segment of the mining industry.

He explained that the situation is driven by the growth of the mining sector in the country and the high demand for goods and services required for daily mining operations.

“For a long time, there was insufficient awareness among Tanzanians about utilising opportunities in the mining sector. However, since TAMISA began providing education to suppliers and service providers in the mining industry, awareness has increased significantly,” said Mr Kumalilwa.

He further called on all stakeholders in the mining sector to join TAMISA to access accurate information, business opportunities, and training that will help improve efficiency, competitiveness and productivity in their economic activities.

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Mr Kumalilwa added that the sixth phase government, under the leadership of President Samia Suluhu Hassan has continued to prioritise the mining sector, particularly by ensuring that local citizens are given fair opportunities in the supply of goods and provision of services in the mining operations, in line with local content policies and laws.

He noted that the government has announced 20 special opportunities reserved for local citizens to help them transition from merely supplying goods to becoming manufacturers of those products.

Some of these opportunities include the manufacturing of construction materials such as cement, steel bars, and electrical cables; production of various lubricants; manufacturing of rock explosives; legal services; as well as cargo and freight transportation services.

On his part, Chief Executive Officer of TAMISA, Mr Japhet Mussa, said that the government recognises the genuine commitment of many Tanzanians to actively participate in the mining business and is ready to support such efforts in order to increase local participation along the mining value chain.