The Tanzania Mining Commission has signed a financing agreement with CRDB Bank to improve access to financial services for small-scale miners, with the Songwe Gold Family group set to receive a TZS 50 billion loan.
The agreement was signed on February 23, 2026, in Dar es Salaam between the Ministry of Minerals, through the Mining Commission, and CRDB Bank, with the initiative targeting improved capital access, technology adoption, and growth of small-scale mining operations.
The Minister for Minerals, Anthony Mavunde, said the initiative forms part of the government’s efforts to create a more supportive environment for small-scale miners by strengthening production, trade efficiency, and the sector’s contribution to gross domestic product (GDP).
He stated that the agreement also implements directives from President Samia Suluhu Hassan aimed at transforming the mining sector and increasing investor participation.
Mavunde said Tanzania is among the few African countries that legally recognize small-scale miners and noted that the government continues issuing mining licenses, revoking undeveloped prospecting licenses, and reallocating areas to small operators to increase productivity and economic contribution.
He said the Songwe Gold Family group would become the first small-scale mining group in Tanzania to receive a TZS 50 billion loan in a single disbursement, describing the move as unprecedented.
Mavunde also said the government is in the final stages of establishing a guarantee fund to support lending to small-scale miners, with the objective of reducing financing barriers and accelerating sector formalization.
CRDB Bank Managing Director Abdulmajid Nsekela said the program introduces a financial framework designed to reflect the operational realities of small-scale miners, who have driven sector growth for five consecutive years compared to other industries.
He said the main constraints identified include limited access to capital, technology, and professional advisory services, adding that the initiative includes financial education, formalization support, and measures to strengthen sector contribution to GDP.
Nsekela said CRDB has already provided TZS 186 billion in financing to the mining sector, including TZS 136 billion to large-scale miners and TZS 50 billion to small-scale operators.
He added that the financing model introduces flexible collateral requirements that do not necessarily rely on fixed assets, allowing guarantees to include valid mining licenses, gold trading licenses, borrowers’ gold reserves, and contractual agreements.
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