DAR ES SALAAM, April 1 -- CREDIT to mining and quarrying surged 91.4 per cent in the period ending February, a sharp rebound from the 30.6 per cent decline in the same period last year, driven by government efforts to modernise the sector.

The latest Bank of Tanzania Monthly Economic Review shows that, in addition to government efforts to modernise the mining sector also access to credit for artisanal and small-scale miners was boosted through flexible collateral arrangements.

By reducing financial barriers through flexible collateral, these measures not only support individual livelihoods but also contribute to the growth and formalisation of the mining sector, boosting overall economic development and creating more employment opportun...