Bank of Uganda’s domestic gold purchase programme a big boost to artisanal miners

Uganda has an estimated 90 percent of its gold production mined by the over 31,000 miners in the artisanal sector, and for a long time, artisanal miners have been exploited by middlemen who take advantage of their lack of access to markets and fair prices. 

However, the trend could change following the Bank of Uganda’s introduction of the Domestic Gold Purchase Programme in which it will be purchasing gold directly from artisanal miners hence supporting their livelihoods.

Uganda joins a list of other countries in Africa that purchase gold locally to boost their foreign reserves;…