Speaking on Thursday, September 25, 2025, at the ongoing eighth National Mining Technology Exhibition in Geita, Regional Commissioner Martine Shigella said miners can now secure loans because banks have access to reliable production data
Geita. The availability of geological surveys directing miners to viable sites, coupled with the establishment of mineral markets that maintain sales records, has been cited as the main reason financial institutions now have greater confidence in lending to miners.
Speaking on Thursday, September 25, 2025, at the ongoing eighth National Mining Technology Exhibition in Geita, Regional Commissioner Martine Shigella said miners can now secure loans because banks have access to reliable production data.
“In the past, a miner presenting only a licence could not secure a loan. Today, if they send survey data or records from the mineral market, the bank trusts them. Mineral markets keep records of gold sold monthly or annually, so if the bank wants verification, it can access official statistics,” explained Mr Shigella.
He added that the increased availability of research equipment and modern soil-testing laboratories has enabled miners to operate based on data rather than guesswork.
“Miners no longer work on assumptions; they know exactly what they are doing. This has built strong trust with financial institutions,” said the RC.
Stanbic Bank’s Geita branch manager, Ms Hilda Gwimba, said the bank has issued loans worth over Sh100 billion to the mining sector to support both small and large-scale miners.
“We consider the entire value chain, from miners and service providers at mining sites to traders of precious stones. We finance mining equipment, heavy machinery, and even service providers, using their contracts with mines as collateral, without requiring traditional security,” said Ms Gwimba.
However, the Geita Region Miners Association (Gerema) Secretary Misana Jeremia noted many miners still struggle to access loans because they lack banking records.
“Most of us keep money in cash or through mobile phones, making it difficult for banks to access financial information. With education on the importance of banking transactions, this challenge will be overcome, and more miners will become creditworthy,” said Jeremia.
Stakeholders believe strengthening information systems through surveys and mineral markets will further enhance collaboration between miners and financial institutions, thereby boosting the growth of both the mining sector and the national economy.
Statistics show the mining sector has grown by 10.6 percent, contributing 10.1 percent to the Gross Domestic Product (GDP), with Geita Region leading in gold production.
Between 2021 and 2025, the sector in Geita created over 35,000 jobs for youth and women, while small-scale miners produced 22,000 kilogrammes of gold worth more than Sh3.4 trillion.
During this period, the government collected over Sh235.5 billion in royalties and taxes.
Large-scale mines, meanwhile, produced 76,500 kilogrammes of gold valued at Sh11.8 trillion, generating about Sh793 billion in government revenue.
In the past four years alone, small-scale miners in Geita produced 22.5 tonnes of gold, compared to 74 tonnes from large-scale mines.
