ASM Symposium Offer Hope to Malawi economy

ASM Symposium Offer Hope to Malawi economy

The recent Artisanal and Small scale Mining (ASM) Policy Consultation Symposium in Lilongwe has agreed on number of critical issues that if properly implemented would expose ASM into International markets.

The results from the two day conference on Wednesday and Thursday last week has also proposed for further research on stumbling blocks and ways to promote ASM subsector.

The conference has empowered an international organization Pact to work with government in spearheading the research in areas of access to market, finance and information among others.

In order to realize the dream of organizing the ASM subsector so that it moves from informal to formal footing in a view of maximizing their earnings hence contributing to the country’s GDP, the conference has in its first recommendation resolved that there is need to further engage with law makers, law enforcement agencies, Malawi Revenue Authority (MRA) and Reserve Bank of Malawi (RBM).

The other five agreements are empowering an international Organisation PACT to do baseline study, needs assessment, quantify and consolidate other policy plans discussed in the conference on how every point will be achieved.

Such studies will be in areas of market analysis to find out where and who has been a buyer for these ASM and to go further on identifying where and who can be the recommended buyer or markets for ASM products.

To ensure that access to finance is “no more far-fetched dream” every business has been urged to be formalized by getting registered and licensed and must be in groups for easy access to financial institutional loans and some financial literacy will be provided to these ASM.

The conference has noted annual events in Arusha, Capetown and identified countries like Srilanka, Thailand, Rwanda and DRC to be areas that ASM’s needs to regularly visit to learn and access information on markets for their products.

Martha Malumba an ASM who was in the conference said agreements made in the conference will greatly support her once the modified policy is enforced.

“Am excited that I was part of this process. We were missed out several conferences. Am also happy that FDH Bank has pledged a continued commitment to support us” She said

Director for Finance and Administration in Ministry of Natural Resources, Energy and Mining Gusto Patrick Mabvuto at the end of the conference said the agreements in this conference will go a long way to transform ASM and will increase government revenue.

He promised that government will endeavour to apply these agreements to ensure their success.

The next conference of the same nature to look at what has been achieved will be in 2015.

Currently, Artisanal and Small Scale Mining activities employ over 20 Thousand people in the country. And the just ended conference has modified some mining policy in order to organize the ASM subsector by moving from informal to formal footing in a view to maximize earnings and revenue to contribute to the country’s GDP.