Artisanal miners Archives – CEO East Africa

Tight Rules, Big Money: Energy Ministry Restricts Gold Trade to Licensed Operators as Central Bank Enters a UGX 20 Trillion Market

Paul MurungiEnergy, Oil & Gas The Big StoryDecember 19, 2025December 20, 2025

The Ministry of Energy and Mineral Development has tightened control over Uganda’s gold trade, unfolding against a backdrop of record-breaking export earnings, a planned entry of the central bank into domestic gold buying, and persistent concerns over transparency and conflict-linked supply chains. The Energy Ministry today issued a detailed public notice restricting gold trade to licensed players. Under the new directive, trading in gold may only take place between holders of valid mineral dealers’ licences for precious metals, gold mining licences, or refining licences, as provided for under the Mining and Minerals Act, 2022. The notice, issued through the Ministry’s…

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Bank of Uganda to Begin Buying Gold After Year-Long Wait

Paul MurungiBanking & Financial Services The Big StoryJuly 30, 2025July 30, 2025

Uganda’s central bank is set to commence buying gold almost a year after announcing its domestic gold purchase programme, marking a significant shift in the country’s approach to reserve management and mineral sector policy. “We will soon begin buying gold,” said Bank of Uganda Governor, Michael Atingi-Ego, during a brief interview with CEO East Africa on the sidelines of the Annual Bankers Conference held yesterday at the Kampala Serena Hotel Conference Centre. Although the Governor, who appeared pressed for time, did not delve into the specifics of how the gold buying process would be rolled out, his remark signal a…

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