Musoma. NMB Bank has reaffirmed its commitment to supporting the country’s mining sector, pledging to back government initiatives aimed at enhancing value chains and addressing challenges facing small-scale miners.
The commitment was announced on Friday, June 6, 2025, by the bank’s Regional Manager for the Lake Victoria Zone, Faraja Ng’ingo, during the closing ceremony of the four-day Minerals Conference and Exhibition held in Musoma, Mara Region.
Ng’ingo said the bank has recognized the strategic importance of the mining sector, a move that prompted the establishment of the NMB Mining Club, a platform designed to provide tailor-made financial services and capacity-building support to miners.
“The club also facilitates access to loans for capital, equipment, and machinery, helping miners transition from artisanal practices to modern, scientific mining methods,” she explained.
According to her, the bank’s long-term goal is to empower small-scale miners to graduate into medium and large-scale operators, thereby increasing the sector’s contribution to the national economy.
She cited success stories such as a miner who started with a Sh5 million loan and has since grown to secure financing exceeding Sh1 billion, thanks to the support and guidance provided through the Mining Club.
Through the initiative, NMB also offers business education, networking opportunities, and exposure to modern mining technologies.
Praise from government and stakeholders
Mara Regional Commissioner, Colonel Evans Mtambi, commended NMB Bank for the initiative and called on other financial institutions to replicate such efforts.
He said the mining sector currently contributes about 18 percent to the regional GDP, and the target is to push this to over 40 percent within the next three years.
“The efforts by NMB are timely and in line with our vision to transform the mining sector in Mara,” he said.
On his part, the Minister for Minerals, Anthony Mavunde, reiterated the government’s commitment to advancing the sector through strategic partnerships and investment in technology.
He noted that the sector’s contribution to the national GDP has grown significantly from Sh162 billion in 2015/16 to Sh960 billion as of May 2025.
Meanwhile, the President of the Federation of Miners Associations of Tanzania (Femata), John Binna, hailed NMB Bank as a “lifeline” for small-scale miners, particularly in addressing capital challenges.
“This Mining Club has been a game changer. I remember the bank allocated more than Sh160 billion specifically for small-scale miners. I encourage NMB to continue investing in research to provide more sustainable solutions for our challenges,” he said.
Inclusive financing model
Hamad Kalaye, a representative from the Mara Regional Mining Office, applauded the bank’s inclusive financing model, noting its impact in empowering miners in the region.
He said that previously, access to loans was limited to those holding formal mining licenses. However, NMB has introduced a more flexible approach that also supports miners who own mining pits (maduara), even without formal licenses.
“Most miners struggle with capital. In the past, they were locked out of financing. Today, NMB collaborates with our office to assess miners and provide loans based on ownership of mining pits — a move expected to transform the sector significantly,” Kalaye said.
The Musoma conference brought together key stakeholders from across the mining value chain to showcase innovation, share knowledge, and foster strategic partnerships aimed at improving the sector.
