Uganda’s Gold Trade Set for Major Overhaul with New Tracking and Sales Regulations
Kampala, Uganda – Uganda’s gold trade is poised for a significant transformation as the government moves to introduce stricter regulations on the buying and selling of the precious metal.
According to Eng. Irene Batebe, Permanent Secretary of the Ministry of Energy, the government is collaborating with the Attorney General’s office to draft a new law that will require all gold sales to be recorded, tracked, and restricted to approved trading hubs.
The proposed regulations aim to bring transparency and oversight to Uganda’s gold trade, which has faced scrutiny over illegal smuggling and revenue losses. By centralizing transactions through licensed hubs, authorities hope to curb illicit trade, ensure proper taxation, and strengthen the country’s mineral sector governance.
“This new framework will ensure that every ounce of gold traded in Uganda is accounted for,” said Eng. Batebe. “It will also streamline the sector, attract legitimate investors, and boost revenue collection.”
The move comes as Uganda seeks to position itself as a key player in Africa’s gold market while addressing concerns over unregulated exports. Industry stakeholders, including miners and traders, are expected to undergo stricter compliance checks under the new system.
Further details on the implementation timeline and approved trading hubs will be announced once the bill is finalized and presented to Parliament.
