As Uganda moves to turn its mineral wealth into greater industrial and economic value, dfcu Bank has stepped up support for players across the mining value chain, offering financing, insurance and foreign exchange risk management solutions.
The bank says its interventions are targeting some of the key challenges limiting investment and productivity in the sector, particularly among artisanal and small-scale miners who struggle to access productive equipment, insurance and affordable capital.
Speaking ahead of the 15th Annual Mineral Wealth Conference and Expo 2026 at the Uganda Media Centre, Moses Malinga, the Sector Head for Infrastructure and Energy at dfcu Bank, said the bank’s approach was informed by direct engagement with mining operators.
“We have actually been to the field. We have gone and met with some of these artisanal miners. We know their concerns,” Malinga said.
He said lack of capital was only one of the challenges facing miners, with access to appropriate equipment, insurance and protection against currency fluctuations also affecting businesses.
To address some of these challenges, Malinga said dfcu had partnered with insurance firm Minet to provide medical and accident covers for artisanal operators.
The bank is also offering structured asset financing to enable miners acquire equipment, while exploring foreign exchange risk management solutions to help businesses manage exposure to fluctuations in the shilling.
He said the interventions were intended to help businesses transition from small-scale and informal operations into more productive commercial enterprises.
“Our solutions give artisanal and small-scale miners an opportunity to combine access to productive assets with insurance and other services, while larger businesses can benefit from solutions designed to manage financing and currency risks,” he said.
Malinga said dfcu was seeking to provide solutions tailored to the needs of businesses across the value chain rather than relying solely on conventional lending.
The bank’s intervention comes as government pushes for increased investment in mineral processing, refining and manufacturing to ensure Uganda earns more from its mineral resources.
The Minister of State for Energy and Mineral Development (Minerals), Phiona Nyamutoro, said Uganda’s ambition should go beyond extracting and exporting raw minerals.
“Our ambition must go beyond just knowing what lies beneath our soil. We must translate our mineral potential into productive investments, employment, industrial capacity, value addition, and sustainable national wealth,” Nyamutoro said.
She said unlocking the sector’s potential would require investment in technology, skills, infrastructure, finance and geological knowledge, supported by appropriate regulatory frameworks.
Nyamutoro urged investors, financial institutions and technology providers to participate across the mineral value chain, from exploration and extraction to processing, refining and manufacturing.
Uganda has identified more than 58 mineral categories, including gold, iron ore, rare earth elements, cobalt and lithium.
Uganda Chamber of Energy and Minerals chairperson Aggrey Ashaba said predictable regulatory policies were critical to attracting long-term investment into the sector.
“Having mineral potential is not enough. We must develop that potential in a way that creates jobs, attracts investment, builds local businesses and contributes meaningfully to Uganda’s socio-economic transformation,” Ashaba said.
Ashaba said access to capital remained vital if local enterprises were to participate meaningfully in the transition from raw mineral extraction to domestic processing, refining and manufacturing.
He added that unlocking the sector’s potential would require increased private-sector investment supported by specialised financial and risk-management tools to enable operators to acquire modern machinery, expand their operations and move further up the value chain.
The 15th Annual Mineral Wealth Conference and Expo 2026 will be held on September 29 and 30 at Speke Resort Munyonyo under the theme, “Beneath the Surface: Africa’s Next Mining Powerhouse.”
The conference is expected to bring together government officials, mining companies, financial institutions, investors, technology providers and other stakeholders to discuss investment, value addition and the development of Uganda’s mineral sector.
