DAR ES SALAAM, Aug. 21 -- THE Bank of Tanzania (BoT) has given the green light for the establishment of a bank dedicated to serving the countrys small-scale miners, opening a new financing avenue for the sector.

BoT Governor, Emmanuel Tutuba approved the request noting that the central bank was ready to receive a formal application from the Federation of Small-Scale Miners Associations of Tanzania (FEMATA) and guide them through the licensing process.

Speaking during a special meeting between BoT and small-scale miners in Geita, the Governor said the proposed bank could become a strong financial institution if miners pooled their resources and adhered to regulatory requirements.

“If you unite and pool your resources, you can esta...