TMB joins the Public-Private Alliance for Responsible Minerals Trade (PPA)

06.07.2023, Lubumbashi, DRC – TMB becomes the first commercial bank to join the PPA.

The Public-Private Alliance (PPA) for Responsible Minerals Trading is a joint initiative of governments (including the US State Department), businesses (such as Apple, Intel, Microsoft and Sony) and civil society to support supply chain solutions to the challenges and opportunities of responsible minerals trading in the DRC and the wider Great Lakes region.

TMB is proud to announce its acceptance of an invitation to join the prestigious organisation, and in doing so becomes the first commercial bank in the world to gain membership.

During the past three years TMB has been working with the PPA on developing financial inclusion responses to the needs of the artisanal and small-scale mining sector. David McEvoy explains that “The largely informal artisanal ASM sector is estimated to employ some 1 million people in the DRC, and over 40 million worldwide. The sector plays a crucial role in income generation, in particular in a number of the most underdeveloped regions of the Congo and yet to date has been entirely excluded from the banking system (as is the case globally). In what we understand to be a world first, TMB has developed a specialised ASM Financial Inclusion unit. TMB has developed an ASM risk framework to help the Bank identify, eliminate, and minimise compliance and reputational risks associated with the ASM sector” .

Multi-stakeholder representation is one the primary strengths of the PPA and key attribute of decision-making. TMB is looking forward to actively participating in PPA discussions and initiatives.

For more information on the PPA please see: https://www.resolve.ngo/site-ppa/whoweare.htm

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