NMB Bank has engaged gold miners and mining service providers from Chunya, Mbeya Region, and Songwe through its Business Executive Network, highlighting guarantee facilities intended to help businesses participate in tenders and execute major contracts.
Speaking at the well-attended event, the bank’s Chief of Retail and Business Banking, Filbert Mponzi, said bid bonds of up to US$11 million without asset collateral, alongside advance payment and performance guarantees of up to TSh11 billion, would help ease financing barriers facing businesses in the mining sector.
Participants called for improved access to mining equipment and financing, with a proposal for NMB to consider accepting mining licences as collateral for loans to small-scale miners.
