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ZMF and Metbank strike a $10 million mining deal

By Denzel Serima

The Zimbabwe Miners Federation (ZMF) signed a decade long alliance worth over 10 million dollars with Metbank last week to curb mining challenges faced by small scale miners.
The deal will offer loans to artisanal and small scale miners in form of equipment to improve mining production in the country.
“The loans will be in form of equipment not monetary and the equipment will act as collateral in the event that a miner defaults in payments and can be recovered at any given moment,” said ZMF President Henrietta Rushwaya (PICTURED).
This came after ZMF Midlands Chairperson for mining Nomalanga Dube highlighted problems faced by miners in which, chief among them include, funding and mining equipment.

“The people here do not have mining equipment to extract various minerals that fill Midlands’s province. We have a lot of minerals and mines but proper funding,” Dube said.

Ephraim Chawoneka Executive Director at Metbank said for miner to access loans they must open bank account with Metbank.

“One does not need to bank with us for a period of time in-order to access the loan but only needs to open an account with them and become affiliated with ZMF,” he said.

Chawonekwa added that, the meeting was meant to be a research program as the loan packages are yet to be made to suit miners and address their problems directly.

“This has been done as a research program where we do not have a product to sell as of now but we want to tailor-make a package that will address all your problems as a miner. This meeting is of paramount importance to both Metbank and Miners as we will come up with something conducive to both of us,” he said.

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