Uganda's Gold Sector Losing Millions Through Illicit Trade

To stop illicit gold trading in Uganda the government's new mining policy will streamline mining activities, enforce transparency and improve the safety records in mines. According to the government's audit report for the financial year 2016/17, the country lost over U.S. $16.95 million in undeclared royalties in the exportation and importation of gold in 2016/2017. A number of the companies including Africa Gold Refinery are under investigation on claims of money laundering, under-declaring, tax evasion and flouting registration. 

President Museveni during a tour of the African Gold Refinery in Entebbe on February 20, 2017.


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