DODOMA, Nov. 27 -- THE Tanzanian government is set to establish an Export Guarantee Scheme (EGS) to enable local miners to secure capital domestically, a strategic move designed strengthen the domestic economy and expand mining operations.

Minister for Minerals, Anthony Mavunde, announced the plan during a recent two-day working session with the ministrys management in Dodoma.

The EGS is intended to unlock local bank financing for miners and ensure that profits generated from the countrys mineral wealth remain within its borders.

The Minister highlighted that Tanzanian miners currently struggle to secure large loans from local banks because their main revenue source—exports—involves inherent risks (such as political risk, e...