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RCs: Tap capital, tech skills from financial institutions

MWANZA and Geita Regional Commissioners have called upon artisanal miners and Small and Medium Entrepreneurs (SMEs) in the Lake Zone regions to ensure that they make good use of financial skills being provided by financial institutions in the ongoing Gold and Technology exhibitions in Geita region.

They said the move would help them to learn and know how to adhere to principles of financial management and spending in order to protect and boost their capital.

Mwanza Regional Commissioner,  Mr John Mongella and his Geita region  counterpart, Engineer Robert Gabriel made the call over the weekend, while visiting the ten day exhibitions ongoing at Bombambili Grounds in the Geita region.

“Good news has been the positive participation of financial institutions including NBC Bank that in addition to sponsoring the exhibitions, is also conducting training for SMEs and artisanal miners. This is a big step and that’s why I call upon mining stakeholders in the Lake Zone to make sure they make good use of this opportunity  in order to learn how to put up proper strategies so that they can improve their businesses,'' said Mr Mongella.

He further said through the exhibition, various financial institutions have been able to advertise various products and services including loans for mining stakeholders as well as SMEs, while citing the NBCs unsecured loan that aims at supporting SMEs to grow and support the country’s industrialization agenda.

“Further the bank’s training to the two groups would help them create adequate knowledge especially in financial management, while practicing their mining operation in modern ways,” pointed out the RC.

On his part, Geita Regional Commissioner, Engineer Gabriel said through the exhibitions, the region expects a major economic revolution due to the major reforms in the operations of mining and commercial activities expected from the ongoing training by various institutions to the artisanal miners and  SMEs.

"That is why we are very grateful to the financial institutions, especially NBC Bank, the main sponsor of this training for being the catalyst for the change we are looking forward t,” he said.

Apart from NBC, the training is being carried out by experts from Tanzania Trade Development Authority (Tan Trade), Mining Commission, Tanzania Revenue Authority (TRA), Office of the Chief Government Chemist, Geological Survey of Tanzania (GST) and Small Industries Development Organisation (SIDO).

Others are from the National Environment Management Council (NEMC), Tanzania Bureau of Standards (TBS), Occupational Safety and Health Authority (OSHA), National Economic Empowerment Council (NEEC), among other institutions.

Elaborating on the bank's services and products to the RC, NBC Bank Manager Corporate Affairs and Government Relations, Mr William Kallaghe said apart from the training, the bank runs a business clinic for various entrepreneurs to help them benefit fully from the mining business chain.

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Author: DAILY NEWS Reporter in Geita

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