Uganda’s Gold Industry is Next frontier of Economic Transformation
By Debbra Mugaga Muyinza, Vice President, Diversified Industries Uganda’s gold story has reached a defining moment. The question is no longer whether the country has gold, or whether the mineral can earn foreign exchange. It is whether Uganda can turn a valuable natural resource into a wider engine of productive
Government registers 9,187 artisanal miners
The government has registered 9,187 artisanal miners across the country as part of efforts to formalise Uganda’s artisanal mining sector and bring operators into the regulated system. Minister of State for Mineral Development, Hon. Phiona Nyamutoro, said the ministry has also gazetted 39 areas for artisanal mining and issued three
BoU turns to Gold to Fortify Uganda’s Reserves
The Bank of Uganda (BoU) has unveiled a three-year pilot programme to buy domestically mined gold, marking astrategic shift aimed at strengthening the country’s foreign exchange reserves while bringing order to the largely informal gold sector. The central bank said it had already begun test purchases under the Domestic Gold
Gold as a weapon of war
By Harold James Countries have historically turned to gold in periods of instability, and today’s environment is no different Since the start of 2026, the price of gold has climbed by more than 22%, reaching above $5,000 per troy ounce for the first time. Unpredictable US policy-making and a weakening
Central Banks Pivot to Gold as Confidence in Dollar Wavers
The global economic order is under strain, and public investors are responding. Just a year ago, central bank reserve managers overwhelmingly favored the U.S. dollar. Many were also prepared to take on more risk to boost returns. Today, that narrative has shifted: the dollar’s dominance is being questioned, and gold
