Bank of Uganda launches Domestic Gold Purchase Program to buy gold from artisanal miners and boost foreign reserves.
Bank of Uganda launches Domestic Gold Purchase Program to buy gold directly from artisanal miners, supporting their livelihoods and joining other African countries such as Zimbabwe and Nigeria in boosting foreign reserves. The move aims to enhance reserves, reduce debt, and sustain an improved trade balance. This is the first time since the 1980s that Bank of Uganda has purchased gold locally.
July 21, 2024
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