By The Respondent reporter
Tunduru, Ruvuma: The President of the United Republic of Tanzania. Samia Suluhu Hassan has officially inaugurated the Gemstone and Gold Market in Tunduru District, marking a key highlight of her 6-day working tour in the Ruvuma Region.
"I wholeheartedly commend the Tunduru District Council for implementing the Public-Private Partnership (PPP) policy in practice. The government contributed a portion of the funds for this market, while local gemstone traders generously provided the rest," said the President.
She emphasized that this state-of-the-art market will not only simplify the trade of minerals in the district but also boost government revenue collection while curbing fraud and smuggling.
President Samia expressed her delight with the successful collaboration between the Council and the private sector, stressing that effective implementation of the PPP model is a catalyst for development in districts across the country.
The President also praised Ruvuma’s impressive revenue collection, revealing that over 6.5 billion Tanzanian shillings were collected in July and August of 2024, a positive sign for continued growth.
In her address, President Samia acknowledged the vital contribution of small-scale miners to the national economy and directed the Minister of Minerals to ensure that STAMICO (the State Mining Corporation) continues to support and empower them, enabling these miners to benefit from the country’s natural resources and further boost their contribution to the national GDP.
Earlier, the Minister of Minerals, Anthony Mavunde, highlighted that due to the favorable policy changes and the 2017 Mining Law, the sector contributed 753 billion Tanzanian shillings to the national treasury in the last financial year, compared to only 161 billion in 2015/2016.
"Your directives, Madam President, have resulted in over 1.7 trillion Tanzanian shillings circulating through 43 mineral markets and 102 buying centers nationwide in 2023/2024. This growth has not only expanded the mining sector but also significantly raised incomes for local communities," Mavunde stated.
"In the first 84 days of the current financial year, 2024/2025, the mining sector has already contributed 225 billion Tanzanian shillings to the national coffers – a tremendous milestone for both the sector and our nation’s economic growth," he added.
Meanwhile, Hassan Zidadi Kungu, the Member of Parliament for Tunduru North, lauded the government for its ongoing development projects in his constituency. He urged the government to continue supporting small-scale miners and proposed the construction of a multi-story mineral market in the future to accommodate the increasing number of buyers.