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Grace Nyoni Midlands Reporter

Metbank says it has set aside an initial $10 million as part of its partnership with the Zimbabwe Miners Federation towards capacitating small-scale miners.

Speaking during a signing ceremony in Gweru, Metbank executive director (banking) Mr Ephraim Chawonekwa said the bank has set aside an initial $10 million as part of its partnership with the Zimbabwe Miners Federation towards capacitating small scale miners.

He said the financial package, which could be revised upwards, covers a 10-year period.

“The amount is not yet fixed, it can be changed and we had $10 million towards small scale miners. However, our fact finding mission will enable us to know the actual figure depending on how big are the works on the ground,” he said

Mr Chawonekwa said the bank will ensure the loans are easily accessible.

“Mostly in our bank a loan takes at least five working days and we hope to be very quick in responding to the application. The loans will be easily accessible to the miners since most mines are sited kilometers away,” said Chawonekwa.

Zimbabwe Miners Federation president Ms Henrietta Rushwaya said the funding will be used to acquire equipment.

“Metbank is going to give us loans in form of machinery and if a miner defaults the bank will repossess the machinery. The miner’s collateral will be purely only the machinery which they would have received from the bank,” said Ms Rushwaya.

She added that under the deal, Metbank will also be giving small scale miners financial literacy and business management skills.

Meanwhile, Mashonaland West Small Scale Miners’ Association regional chairperson Ms Chiedza Chipangura said small scale miners are prone to attacks, especially women.

Speaking at a Zimbabwe Miners Federation meeting in Gweru recently Ms Chipangura said: “Violence in artisanal mining has been a common feature where miners fight over mining claims, with some of the turf wars resulting in fatalities. Women are mostly the victims and a number of people died this year following a war of machetes over ownership of gold claims.”