{"id":522184,"date":"2026-04-09T21:47:11","date_gmt":"2026-04-09T21:47:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/522184\/"},"modified":"2026-04-09T21:47:11","modified_gmt":"2026-04-09T21:47:11","slug":"uganda-strikes-strategic-deal-to-keep-160-million-of-gold-revenue-at-home","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/522184\/","title":{"rendered":"Uganda strikes strategic deal to keep $160 million of gold revenue at home"},"content":{"rendered":"

\n The Bank of Uganda (BoU) finalised agreements with EuroGold Refinery Ltd and Feldstein Trading Limited, marking a major step toward retaining more value within the country\u2019s gold industry and reducing reliance<\/a> on re\u2011exports to foreign markets.\n <\/p>\n

\n The Monitor reports that under the deal, the BoU plans to begin purchases with 100 kilograms of gold valued at roughly $160 million (about Shs592 billion), which it will acquire from companies that refine gold within Uganda rather than sending raw materials abroad.\n <\/p>\n

\n This is part of a broader Domestic Gold Purchase Programme aimed at promoting value addition, enhancing transparency, and supporting local refineries.\n <\/p>\n

Strengthening Uganda\u2019s local gold industry<\/p>\n

\n EuroGold, based in Kampala and regarded as the first fully Ugandan\u2011owned gold refinery, has been involved in efforts to formalise the sector and work with small\u2011scale miners, helping refine their gold to international purity standards.<\/a>\n <\/p>\n

\"GOLD-MARKET-IN-UGANDA-\" <\/p>\n

\n Feldstein Trading, also contracted to supply gold, joins the initiative as part of the push to strengthen local supply chains and ensure consistent, high-quality domestic production.\n <\/p>\n

\n The move comes as Uganda\u2019s gold export earnings reach record levels, with the commodity contributing billions to the country\u2019s export receipts in recent years. Historically, much of this value has flowed out through the export of unprocessed gold.\n <\/p>\n

\n Gold exports accounted for 37% of Uganda\u2019s total export revenue in 2024, generating $3.4 billion, while early 2025 data points to even stronger growth, with $1.91 billion recorded in the first five months alone.\n <\/p>\n

\n This surge in earnings is supporting infrastructure development<\/a>, job creation, and broader economic expansion, with GDP growth projected to exceed 10% in the 2025\/2026 fiscal year, driven in part by global gold prices hovering around $3,300 per ounce.\n <\/p>\n

\n For investors, Uganda presents a compelling opportunity within Africa\u2019s emerging gold belt, combining largely untapped reserves with a gradually improving regulatory and governance framework.\n <\/p>\n

\n By buying refined gold from domestic players, the BoU hopes to keep more of the economic value in Uganda, boosting the national economy<\/a> and supporting local businesses.\n <\/p>\n

\n Uganda\u2019s strategy mirrors a wider trend across Africa, where countries are increasingly nationalising value chains in core minerals insisting on local processing and refining to maximise jobs, revenue, and economic resilience.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The Bank of Uganda (BoU) finalised agreements with EuroGold Refinery Ltd and Feldstein Trading Limited, marking a major…\n","protected":false},"author":2,"featured_media":522185,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-522184","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/522184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=522184"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/522184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/522185"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=522184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=522184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=522184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}