Business

Tanzania: Kenya Borrows a Leaf From Stamico Success


KENYA has been greatly impressed by the successes of the State Mining Corporation (STAMICO) and in turn dispatches a delegation of six to Tanzania for a study tour.

Stamico, a state-owned enterprise under the Ministry of Minerals, in recent days turned from a loss-making entity to a profitable one with revenue generation rising from 1.36bn/- in 2018/2019 to 48.9bn/- in 2021/2022.

Kenya’s Principal Secretary in the Ministry of Mining Blue Economy and Maritime Mr Elijah Mwangi said they chose to come to Tanzania after being impressed by its mining sector and STAMICO has a vast experience in the area.

“STAMICO is in business for a long time, we did not see any reason to choose another country for studying except Tanzania,” Mr Mwangi, the head of the delegation, said in Dar es Salaam on Saturday.

“We are very grateful for [Tanzania] being a good neighbour and opening its doors for our people.”

He said STAMICO is doing well in developing the mining value chain activities and will continue to be a role model for them on how to professionally conduct mining activities in the exploration, mining, processing and trading of minerals.

The Kenyan delegation in their weeklong visit to Dar es Salaam that ended last Saturday, had in-depth discussions with their counterparts on how they would borrow a leaf from Tanzania to modernise their mining activities including reinforcing the laws and procedures, which have made STAMICO to stand out from the rest.