She said the government's intention is to see the small miners economically benefit from the sector by acquiring affordable loans from commercial banks that are willing to support the government's development initiatives.
Mwegelo made the remarks at the meeting that brought together NMB bank officials and small scale miners and other mining stakeholders under the club known as NMB Mining.
She said that the bank leads amongst other banks in extending loans and awareness to small scale miners that helps them to explore financial opportunities thus will put more efforts in achieving the creation of creating more billionaires.
"Small miners are not well informed about market opportunities, sales management and where to acquire funds for purchasing modern mining equipment. Informing them about these opportunities is very important to them," she said.
"In adhering to the government’s directives, Korogwe has established its mineral stock. Sensitizing miners can enable them to explore opportunities. It can also be regarded as a way of facilitating Korogwe residents economically.”
NMB northern zone acting manager, Praygod Mphuru, said that linking the gap between small miners and mining stakeholders creates potential for them to access new markets.He said the bank has been training miners on how to grow their business capitals and how to set up business plans, record keeping, accounting and how to calculate loss and profits.
For her part, NMB Madaraka branch manager who doubles as Tanga NMB branch managers’ chairperson Elizabeth Chawinga encouraged the mining sector stakeholders to explore financial opportunities extended by the bank.
According to her, small miners and other mining stakeholders have all it takes to benefit from the bank’s services by opening saving accounts, accessing equipment loans at low interest rates and helping with mineral sales supervision at domestic and foreign mineral markets.
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