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INSIDE STORY: Bank of Uganda moves to purchase gold from Ugandans as exports hit UGX 514 billion in three months

Bank of Uganda Deputy Governor Micheal Atingi- Ego

Ugandans are set to earn big from gold sales as the Bank of Uganda (BOU) initiates a Domestic Gold Purchase Programme which is aimed at building the country’s foreign reserves and minimizing associated risks on reserves investments in the international financial markets.  The gold purchase programme will involve purchasing gold directly from the artisanal and small scale miners, which also in part, is to support the miners’ livelihoods with a positive spill-over effect on other sectors of the economy in line with the Bank’s mission to support socio-economic transformation.  BOU in consultation with relevant key stakeholders, released the details of…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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