The planetGOLD Zambia Project Moves to Partner with a Financial Institution to Launch $300,000 Revolving Fund for Artisanal and Small-Scale Gold Miners.

Access to finance remains one of the key challenges faced by Artisanal and Small-Scale Gold Miners (ASGM) in Zambia. Limited access to appropriate and affordable financial services can make it difficult for miners to invest in improved mining and processing equipment, adopt mercury-free technologies, formalise their operations and improve productivity. To help address this challenge, the planetGOLD Zambia Project, under the second thematic area: Access to Finance and Formal Markets, is supporting the establishment of a financing mechanism to improve access to finance for ASGM operators.
As part of this effort, the planetGOLD Zambia Project is supporting the establishment of a US$300,000 ASGM Revolving Fund over the project life span. The revolving fund is intended to provide an avenue through which eligible Artisanal and Small-Scale Gold Miners can access financial resources to support their mining operations and contribute to the transition towards more formal, responsible and mercury-free gold mining practices.

Financial Management Committee Established
To support transparent and accountable management of the revolving fund, the planetGOLD Zambia Project supported the establishment of a Financial Management Committee (FMC).
The FMC is responsible for providing oversight and guidance on the management and performance of the financing mechanism. Its objectives include ensuring transparent and accountable financial management of resources and ensuring the effective performance of the fund.

The Committee will also review compliance with cooperative governance requirements, mining regulations and financial institution requirements. In addition, it will support efforts to strengthen internal controls within the selected financial institution to help prevent the misuse or misallocation of funds.
The FMC will further provide recommendations to the Project Steering Committee (PSC) of the planetGOLD Zambia project on the financial sustainability of the mechanism.
The Committee is chaired by the Ministry of Mines and Minerals Development's Artisanal and Small-Scale Mining Department, helping to ensure that the financing mechanism remains aligned with Government priorities and policies.

Broad Stakeholder Representation
The Financial Management Committee brings together representatives from key government institutions, financial and academic institutions, the private sector and the ASGM sector.
Members of the Committee are drawn from:
•    Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH)
•    Ministry of Finance and National Planning
•    Zambia Revenue Authority
•    University of Zambia
•    Copperbelt University
•    Miner Representation
•    Bank of Zambia
•    Ministry of Small and Medium Enterprises Development
•    Minerals Regulation Commission
•    Ministry of Mines and Minerals Development
•    Bankers Association of Zambia
•    The planetGOLD Zambia Project Secretariat
The broad representation is intended to bring together financial, technical, regulatory, policy and mining-sector perspectives to support effective oversight of the seed fund.
Financial Institutions Thoroughly Vetted

On 6 October 2026, the Financial Management Committee held its meeting to thoroughly vet the financial institutions that responded to the Expression of Interest (EOI) issued by the planetGOLD Zambia Project, with the aim of selecting a suitable financial institution to host and manage the US$300,000 ASGM revolving fund with an initial $50,000 Seed Fund set as a guarantee against the proposed Loan Facility.
The financial institutions that responded to the EOI included ABSA Bank Zambia and Migodi-Auric Limited, Micro Finance Zambia, Oranji Solutions, and Ethaleni Solutions Limited.

The vetting process is intended to identify a suitable financial institution with the capacity to manage the fund and provide appropriate financial services to eligible Artisanal and Small-Scale Gold Miners.
Once selected, the financial institution will host the US$300,000 revolving fund, which will be made accessible to eligible ASGM operators.
Supporting Access to Finance for ASGM
Through the establishment of the revolving seed fund, the planetGOLD Zambia Project seeks to help address the financial barriers that limit the ability of Artisanal and Small-Scale Gold Miners to invest in their operations and adopt improved technologies and practices.
Improved access to finance can help miners make investments in areas such as mercury-free processing technologies, equipment, production and other activities that support the formalisation and responsible development of the ASGM sector.

The financing mechanism forms part of the planetGOLD Zambia Project's broader efforts to support the transformation of Zambia's Artisanal and Small-Scale Gold Mining sector through formalisation, access to finance and formal markets, uptake of mercury-free technologies, and information and knowledge sharing.
By bringing together Government, financial institutions, mining-sector representatives, academia and other key stakeholders, the initiative seeks to establish a financing mechanism that is transparent, accountable and responsive to the needs of Zambia's Artisanal and Small-Scale Gold Miners.