By KENNEDY MUPESENI
THE Mine Workers Union of Zambia (MUZ) has urged Government and cooperating partners to establish a special micro loan facility for miners, to make economic diversification in mining areas feasible.
Chibuluma branch chairperson Raphael Phiri said high interest rates by micro lenders were making it difficult for miners to start other economic ventures.
“Interests rates are very high, making it difficult for us to engage in other ventures like farming.

YALUMA

“Government has put emphasis on the need to diversify, I think there is need to come up with mechanisms to support diversification such as coming up with a micro loan facility which can offer low interest rate loans to our members,” Mr Phiri said.
He said this during the meeting with Mines and Minerals Development Minister, Christopher Yaluma and some officials at Chibuluma Mine this week.
Due to economic changes, Mr Phiri said miners were ready to venture into agriculture provided they had land and capital.
He said Government should also facilitate for more trainings on how to manage various ventures such as agriculture and entrepreneurship  to make diversification a reality.
“There is need to psychologically prepare miners to realise Government’s diversification agenda, most of them  have never farmed or run even a ‘Kantemba’ (small shop) so it is very difficult for them to just wake-up and start running a shop or a farm,” Mr Phiri said.
In response, Mr Yaluma promised to consult with his Labour counterpart to see how miners could be connected to cheaper sources of funds.
“The financial sector is not my territory, I will  talk to my Labour and Finance counterparts to see how you can be connected and as Government, we will continue pushing for economic diversification, that is why we are emphasising that miners start smallholdings while on payroll.”