Mining is one of the leading sectors in Tanzania, with the value of the mineral exports increasing tremendously each year. The sector is very important to the national economy as it is a source of required foreign exchange. Most activities revolve around gold and gemstones mining as well as in the mining of industrial minerals such as kaolin, coal, and aggregates.
The banks’ mining loans target the promoters of both primary and secondary mining activities
- Financing both startup as well as existing mining projects for corporate and SMEs.
- Loans offered on medium to long term project financing basis.
- Grace period during the project construction/ development period
- Affordable and flexible interest rates
- Loans and available at currency pf projected cash flows to curb exchange rate risk
- Efficient loan processing time
- Enables the construction of necessary project infrastructure as well the installation of required machinery
- Allows for the development and promotion of brandnew projects that are mot yet considered commercially bankable
- Advice from the banks’ technical support unit in order to minimize any engineering oversight.