Smugglers Take Sheen From Uganda’s Bright Gold Refinery

Jul 19, 2017 | Joseph Burite
View Original

African Gold Refinery, a Ugandan company, expects to process $1 billion worth of gold a year but is battling would-be smugglers turning to the precious metal to make easy money.

Gold is lucrative in this part of the world. Gold shipments by East Africa’s third largest economy surged to $204 million in the 2015/16 financial year, from $230,000 a year earlier, according to the Bank of Uganda.

“For the first time the country registered an increase in exports just on account of that one unit,” said Richard Kaijuka, Chairman of African Gold Refinery, in April in the capital Kampala. “It’s certainly a game-changer for the region. The outlook is looking good – without doubt.”