Provides tailored financial solutions for both small- and large-scale miners and facilitates solar energy infrastructure in mines
Stanbic Bank Tanzania has announced its commitment to continue empowering various stakeholders in the country’s mining sector, particularly in Geita, through tailored financial solutions that enable them to grow, invest, and build a sustainable future.
Speaking at the 8th National Mining Technology Exhibition held at Samia Suluhu Grounds in Geita, Stanbic Geita Branch Manager, Ms. Hilda Gwimba, said:
“As we celebrate 30 years of service in the country, at Stanbic we continue to support mining stakeholders by providing unsecured loans to both small- and large-scale miners, loans for heavy-duty vehicles, mining machinery, and equipment, as well as supporting entrepreneurs and offering solar power energy services for miners,” said Gwimba.
She added:“We look at the entire value chain from miners, mine service providers, to gemstone traders.
This initiative is part of Stanbic’s 30-year journey in Tanzania under the theme ‘Tanzania on Our Shoulders – 30 Years of Growing Together.’
By placing people’s needs at the center of its services, the bank continues to affirm its role as a partner in family prosperity, community development, and the country’s economic transformation,” Gwimba concluded.
On his part, the Regional Commissioner of Geita, Hon. Martine Shigella, stated that the availability of geological studies and sales records, which enable miners to access mineral markets, has been a key driver for financial institutions to start offering loans to small-scale miners.
These steps have built financial credibility for miners, Shigella said.
He added:“In the past, when a miner went to the bank with only a license, they were not eligible for loans. But today, when they present geological data or sales records from the mineral market, banks trust them.
These markets keep records of the amount of gold a miner has sold in a month or a year, so if the bank needs to verify, it gets official statistics,” Shigella concluded.
