Sunday, July 13, 2025
UG Standard - Latest News
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us
  • Login
UG Standard - Latest News
ADVERTISEMENT

Uganda’s mining sector sees stunning growth, but transparency concerns linger

by Juliette Namakula | Assistant Editor
24/12/2024
in Business, News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter
Gold exporters now have to pay billions of shillings in arrears to the taxman. Uganda's mining sector has seen a significant surge in revenue, with gold being one of the key minerals driving growth.
Uganda’s mining sector has seen a significant surge in revenue, with gold being one of the key minerals driving growth.

Kampala, Uganda – Uganda’s mining sector has witnessed a remarkable surge in revenue, with the value of mineral production skyrocketing from 19.92 billion Ugandan shillings to 202 billion Ugandan shillings in just one year.

The stunning growth, highlighted in the country’s third Extractive Industries Transparency Initiative (EITI) report, has been driven by a significant increase in the production of key minerals such as limestone, iron ore, and gold.

Related posts

NARO Director General Dr. Yona Baguma delivering his presentation at the CPA Economic Forum in Entebbe

NARO Director Unveils New Crop Varieties, Livestock Tech at Economic Forum

11/07/2025
160
Mercy Kainabwiso from URSB and Dr. Aminah Zawedde launching the

Thousands of Ugandan Trademarks Face Deletion as Deadline Nears

11/07/2025
165
Kampala to get a major infrastructure boost! KCCA and COLAS sign a €250M deal to upgrade over 118 city roads, funded by UK Export Finance. The project includes new walkways, drainage, and street lighting, promising a transformed, sustainable Kampala.

FULL LIST: KCCA, COLAS Ink €250M Deal to Transform Over 118 Kampala Roads

11/07/2025
175
Pearl Tower One, part of the new Pearl Business Park, stands illuminated in the Kampala night skyline.

Ruparelia Group completes first phase of Kampala business park

11/07/2025
191

However, despite the impressive revenue growth, concerns over transparency and accountability in the industry continue to linger. The EITI report notes that the government has yet to fully disclose contracts signed with mining, oil, and gas companies, a critical step in ensuring transparency and curbing corruption.

“The lack of transparency in the contracts is a major concern,” said Gloria Mugambe, head of Uganda’s EITI Secretariat. “We need to ensure that the contracts are made public so that Ugandans can see how their natural resources are being managed.”

Mugambe explained that while much of the data comes from government agencies like the Uganda Revenue Authority (URA), verifying these figures with companies has proven difficult due to incomplete or delayed submissions.

Mark Robinson, Executive Director of the EITI Board, emphasized the importance of contract disclosure, stating that it is a critical step in ensuring transparency and curbing corruption in the sector.

“Contract transparency is essential for ensuring that the extractive industries contribute to sustainable development,” Robinson said.

Civil society organizations have long been advocating for greater transparency in Uganda’s extractive industries, arguing that it is essential for ensuring that the country’s natural resources are managed in a way that benefits all Ugandans.

“Transparency is key to ensuring that the mining sector contributes to Uganda’s economic development in a sustainable and equitable way,” said Siragi Magara from Oxfam-Uganda.

The government faces increasing pressure to address the transparency concerns and ensure that the industry is managed in a way that benefits all Ugandans.

Share this:

  • Share
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on X (Opens in new window) X
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on X (Opens in new window) X
  • Click to share on Pinterest (Opens in new window) Pinterest
  • Click to share on Telegram (Opens in new window) Telegram
  • Click to share on WhatsApp (Opens in new window) WhatsApp

Like this:

Like Loading...

Related

Tags: economic development.EITIExtractive Industries Transparency InitiativeGoldmineralsmining sectornatural resourcesRevenue GrowthTransparencyUganda

Related Posts

 Abbas urges U.S. to compel Israel to stop violations against Palestinians
News

 Abbas urges U.S. to compel Israel to stop violations against Palestinians

05/11/2022
0
308

Abbas urges U.S. to compel Israel to stop violations against Palestinians RAMALLAH, Nov. 4 (Xinhua) -- Palestinian President Mahmoud Abbas...

Read moreDetails
Equity ranked 4th strongest banking brand globally on brand strength, scoring 92.4 points out of 100

 Equity Bank Under Scrutiny for Alleged Role in UGX.3bn Fake Gold Scam

09/07/2024
625
Minister of Health Dr. Ruth Aceng and Permanent Secretary Dr. Diana Atwiine pay their respects at the burial of Dr. Joshua Musinguzi, a champion in the fight against HIV/AIDS in Uganda. Their presence honors his legacy and dedication to improving healthcare in Uganda.

 FULL LIST: Health Service Commission Shortlists Applicants for Key Roles

18/06/2025
1.4k
Kabuleta and other opposition politicians have teamed up to put an end to Museveni's leadership

 Kabuleta, other opposition politicians team up to put an end to Museveni’s leadership

27/02/2024
504
Load More

Popular Articles

  • Check out the top schools with pupils who scored 6 in 4 aggregates in the 2024 PLE results, as released by UNEB

    PLE 2024 Results: Top Schools with 6 in 4 Aggregates

    4378 shares
    Share 1751 Tweet 1095
  • How to Renew Your National ID Online: NIRA Pre-Registration Portal 2025 Guide

    4066 shares
    Share 1626 Tweet 1017
  • NIRA unveils high-tech National ID, mass enrollment set to begin

    2667 shares
    Share 1067 Tweet 667
  • FULL LIST: Ministry of Education, NCDC publish self-study workbooks amid COVID-19 lockdown

    3323 shares
    Share 1348 Tweet 823
  • How to Check PLE Results 2024 on Phone, Online

    1785 shares
    Share 714 Tweet 446
  • PLE 2024 Results: UNEB Clarifies on Release Date

    1651 shares
    Share 660 Tweet 413
  • MPs clear govt to cancel 2020 academic year

    2796 shares
    Share 1150 Tweet 686

Recent Articles

President Museveni assesses the Parish Development Model in Mpigi, highlighting Rashida Namubiru's life-changing journey from hardship to prosperity through a UGX 1 million PDM grant

Reprieve as Museveni Halts NEMA’s 21-Day Eviction Order for Katabi Farmer

13/07/2025

Traders decry lack of education on tax matters, call for greater sensitization

12/07/2025

Graduates Urged to Innovate as Over 1,000 Complete Training at Nakawa Vocational Training College

12/07/2025
The IGG Beti Kamya urged Ugandans to help expose suspicious wealth, such as high-rise apartments owned by public officials.

How the Office of the IGG is Turning the Tide in Uganda’s Fight Against Corruption

11/07/2025

betPawa Makes History with Africa’s Biggest Aviator Win — UGX 3,582,370,00 in One Round

11/07/2025
Herbert Achai

Transfers: Herbert Achayi Returns to KCCA FC

11/07/2025
The accused persons at Court on Friday.

Gomba District Commission Members, charged with extortion and Soliciting Bribes for Jobs

11/07/2025

Recent CommentsRecent Comments

  • The Journey of Ibrahim Traoré on How President Ibrahim Traoré’s ambitious vision is driving Burkina Faso’s economic growth push
  • Ugandan Scientists Finalists For European Inventors Prize — Press Uganda on Ugandan scientists finalists for European inventors prize
  • Government Pumps UGX1 Trillion Into UDB To Drive Industrialization, SME Growth — Press Uganda on Government pumps UGX1 Trillion into UDB to drive Industrialization, SME growth
  • PS Ggoobi Tips On Building USD 500b Economy — Press Uganda on PS Ggoobi tips on building USD 500b economy
  • Museveni Meets German Envoy Matthias Schauer After Subversion Claims — Press Uganda on Museveni meets German envoy Matthias Schauer after subversion claims

UG Standard - Latest News

UG Standard, published via www.ugstandard.com isa publication of Sahel Media Solutions Ltd, a professional Digital/New Media company in Uganda info@ugstandard.com

Follow us on social media:

Latest News

  • Reprieve as Museveni Halts NEMA’s 21-Day Eviction Order for Katabi Farmer
  • Traders decry lack of education on tax matters, call for greater sensitization
  • Graduates Urged to Innovate as Over 1,000 Complete Training at Nakawa Vocational Training College
  • How the Office of the IGG is Turning the Tide in Uganda’s Fight Against Corruption
  • betPawa Makes History with Africa’s Biggest Aviator Win — UGX 3,582,370,00 in One Round
  • Transfers: Herbert Achayi Returns to KCCA FC

OpED

Equipping Youth with Skills for a Sustainable Future: A Mission We Must All Embrace

Fueling the Future: How Pesapal’s Forecourt Management Solution is Transforming Uganda’s Petroleum Sector

HELLEN MASIKA: From Darkness to Solar Light in Kijumba 

Why de-register a Motor Vehicle in Uganda: and Consequences of Non-Compliance

Challenges of taxing law firms in Uganda

© 2024 Ugstandard - Latest News by Digital/New Media company.

Welcome Back!

Sign In with Facebook
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us

© 2024 Ugstandard - Latest News by Digital/New Media company.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d