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AfDB, Liberia govt examine ways to improve artisanal and small-scale mining

The government of Liberia partnered with the African Development Bank (AfDB), to publish a report outlining steps to draw artisanal and small-scale miners into formal sector, boosting economy.

According to the report, potential solutions to support the livelihoods of small-scale miners include setting up enabling regulatory and institutional frameworks and providing efficient extension services. The study draws on broad-based stakeholder consultations and a robust review and analysis of Liberia’s financial ecosystems and the artisanal and small-scale mining value chain.

Road to opportunities

The study further offers a compelling case for greater financial inclusivity as a key enabler for small-scale miners in Liberia and includes a roadmap to formalize the sub-sector. The report posits ample opportunities for financial institutions to engage with the artisanal mining sub-sector, including offering tailored solutions. These interventions align with three pillars: access to financial services, promoting digital financial services and improving consumer protection and financial capabilities.

“Artisanal and small-scale mining is a vital livelihood source for a sizeable and needy population of rural and peri-urban Liberians, as well as millions in sub-Saharan Africa who often travel around their countries in small groups to identify sites where they believe precious minerals or metals can be found,” stated the AfDB Country Manager for Liberia, Benedict Kanu.

The Ministry of Mines and Energy also highlighted its intention to work with development and commercial banks, such as the AfDB, as well as with smaller finance institutions and other partners, to promote socioeconomic development in the country while offering context-specific solutions to enforce mining laws and ensure that miners are properly trained and licensed.

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