• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    Nigeria Launches National Domestic Payments Card Program
    In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
    $30 Billion has been pledged by the African Development Bank and Development Partners to Finance Food and Farming in the Next Five Years
    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing
    Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report
    Growers in Uganda to succeed from Nigeria’s AFEX’s Tech-Enable Products having expanding its Products Exchange Business in Nigeria’s AFEX from Kenya
    Nigeria Sets Quality Control and Assurance Laboratory for the Oil and Gas Industry

    $4 Billion endeavored to be bestow by Small Scale Miners towards the consummation of $12 Billion Economy, divulged Wellington Takavarasha – Zimbabwe Miners Federation Chief Executive Officer

    Posted On 15 Sep 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 16

    By Abdul Rahman Bangura–

    Photo Credit: Depositphotos

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Wellington Takavarasha in a consultation told, small-scale and artisanal miners have a crucial position to influence towards the culmination of the $12 billion mining economy.

    “Statistics of production indicate that, the $12 billion mining economy is being achieved in various sectors, it’s across all the mining sectors. $4 billion has to come from ASM. Fidelity printers receipts of small-scale miners indicates that the sector is producing 60% of the total gold output. The role of ASM is very important. Currently 70% of the
    minerals being mined is gold while 30% constitutes other minerals,” he explained.

    He similarly accentuated that, formalization of ASM is long delayed.

    “As long as government is benefiting from the artisanal small-scale mining sector operations, there is need to formalize. There have been some engagements at Mines and Finance Ministries and they are going to meet and come up with a Statutory Instrument that legalizes policies that have a framework for the ASM sector. This has been on the cards,” he admitted.

    The ZMF CEO let out, the Novel Coronavirus (Covid-19) pandemic has adversely influenced the ASM sector.

    “Covid-19 has greatly created on the ASM sector. We have had challenges such as cash shortages. The cash shortages are emanating from the fact that the commercial flights that have been coming into the country and the international flights were being restricted. Therefore, this impacted on Fidelity Printers having cash. There were acute shortages at Fidelity Printers and Refineries because of the pandemic,” he explained.

    Accordingly, the circumstance oversaw to a substantial decline in output. “Production during Covid-19 dropped drastically. Statistics indicates that we went from 22 tons to 9.8 tons,” he announced.

     

    Subscription
      We are Subscription media online newspaper. Unlimited Access  for $1.99 per Month. To Subscribe email: info@newafricabusinessnews.com. Thank you for the support 

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Development Bank of Southern Africa to Partner with Invest Africa

    Next Story

    Zimbabwe bells for the Adoption of Digital Moolah in Remittances

    16 Comments

    1. Joseph September 15, 2021 at 1:20 am Reply

      Great report, Journalist Bangura. Africa is going back to be great as before. Kampala in Uganda. Joseph

      • New Africa Business News, Staff Correspondent September 15, 2021 at 1:27 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Samuel September 15, 2021 at 1:22 am Reply

      The free trade is lifting millions out of poverty. Samuel in Lagos NIGERIA

      • New Africa Business News, Staff Correspondent September 15, 2021 at 1:27 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. George September 15, 2021 at 1:24 am Reply

      Thank you for the report. Investing in Africa is the solution. Lusaka ZAMBIA. George

      • New Africa Business News, Staff Correspondent September 15, 2021 at 1:27 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Fred September 15, 2021 at 1:25 am Reply

      Great newsletters and thank you. Oslo, Norway. Fred

      • New Africa Business News, Staff Correspondent September 15, 2021 at 1:26 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. James September 16, 2021 at 3:26 pm Reply

      Am an annual subscriber for the unlimited access of new Africa business news. Great timely news. You are the best. Berlin in Germany

      • New Africa Business News, Staff Correspondent September 16, 2021 at 3:42 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Lindy September 16, 2021 at 3:28 pm Reply

      Love the unlimited access and you all. We love the contents. Luanda ANGOLA. Lindy

      • New Africa Business News, Staff Correspondent September 16, 2021 at 3:41 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    7. Kim September 16, 2021 at 3:33 pm Reply

      New Africa business news should have did pay online subscription many months ago. Other online newspapers have being doing it for many years. Thank you. Oslo, Norway. Kim

      • New Africa Business News, Staff Correspondent September 16, 2021 at 3:41 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    8. Ahmed September 16, 2021 at 3:39 pm Reply

      Am extremely happy that globally readers are subscribing for the pay subscription. I have no doubt is going to be a great great success. Am a happy subscriber. My love for Afrika is pure. Afrikan in France. Paris in France. Ahmed

      • New Africa Business News, Staff Correspondent September 16, 2021 at 3:41 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    Posted On 06 Feb 2023

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Posted On 03 Feb 2023

    Nigeria Launches National Domestic Payments Card Program

    Posted On 02 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Facebook

    Latest Posts

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Nigeria Launches National Domestic Payments Card Program

    Recent Posts

    • A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    • $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    • Nigeria Launches National Domestic Payments Card Program
    • In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
    • $30 Billion has been pledged by the African Development Bank and Development Partners to Finance Food and Farming in the Next Five Years

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.