Africa-Press – Uganda. The 14th Annual Mineral Wealth Conference, held on September 24–25 at the Kampala Serena Hotel, marked a significant turning point in Uganda’s mining sector, with entrepreneur and gospel artist Ben Mungufeni taking center stage as the country’s first local investor to own and operate a gold refinery.
Mungufeni, CEO of Euro Gold Refinery, was celebrated as a key figure shaping the future of Uganda’s mineral economy.
His venture—the first 100% Ugandan-owned gold refinery—was a focal point of the conference, which convened over 1,500 stakeholders under the theme “Sustainable Mineral Development through Collaboration, Innovation, and Green Transitions.”
Launched in July 2025 by Minister of Energy and Mineral Development Ruth Nankabirwa, the Euro Gold Refinery located in Kamwokya, Kampala, represents a landmark achievement for local participation in a sector traditionally dominated by foreign entities.
Mungufeni’s refinery, built with an investment of Shs 178 billion, is equipped with advanced Italian technology and is capable of refining gold to 99.9% purity—without producing chemical waste. The facility supports the Bank of Uganda’s Domestic Gold Purchase Programme and strengthens the local market for Ugandan-made gold products, including jewelry.
“This is not just a refinery; it’s a statement that Ugandans can own, operate, and excel in high-value sectors,” Mungufeni told delegates, during a session that drew widespread attention for its emphasis on local content and sustainability.
Euro Gold Refinery says it sources gold from artisanal miners and small-scale operations, creating a supply chain that directly benefits over 400,000 miners and indirectly supports approximately 2 million Ugandans.
In addition to its Kamwokya facility, the company owns a 79.8 square kilometer mining concession in Yumbe District and collaborates with Kakoka Artisanal Mining Association in Abim, Karamoja.
This inclusive model is designed to generate hundreds of direct and indirect jobs while elevating community livelihoods—a vision that aligns with Uganda’s Vision 2040 to industrialize and grow its economy from $50 billion to $500 billion.
Ben Mungufeni , also known for his impactful gospel music, has seamlessly bridged the worlds of culture and commerce. His influence among Uganda’s youth was evident as many young attendees looked to his journey as a source of inspiration during the high-profile event.
Phiona Nyamutoro, the Minister of State for Mineral Development emphasized government’s commitment to value addition and local beneficiation as outlined in the Mining and Minerals Act, 2022.
As the third licensed gold refinery in Uganda, but the first owned entirely by a Ugandan, Euro Gold Refinery is quickly emerging as a benchmark for innovation and responsible resource development.
The company’s environmentally compliant operations and commitment to international quality standards place it at the forefront of Uganda’s push for a green and inclusive mineral economy.
The facility not only contributes to Uganda’s formal gold trade and national reserves but also positions the country competitively in the global precious metals market.
Organized by the Uganda Chamber of Energy and Minerals (UCEM), the Mineral Wealth Conference brought together key stakeholders from government, private sector, civil society, and international partners such as AHK Eastern Africa and NCBA Bank.
In addition to keynotes and panel discussions, the conference featured exhibitions of locally processed minerals—including green cement and polished gemstones—and launched UCEM’s “30 Days of Mining” media campaign aimed at sustaining momentum in public engagement.
Mungufeni’s success story was consistently cited as an example of how strategic investments in value addition can unlock transformative economic growth.
With Uganda sitting on an estimated 31 million tonnes of gold ore, Ben Mungufeni’s rise from gospel artist to industrial pioneer offers a blueprint for homegrown innovation and ownership in the extractive sector.
As the country moves toward building a sovereign and sustainable mineral economy, Euro Gold Refinery is not only refining gold—but also refining what it means to be a Ugandan industrialist in the 21st century.
“This is our time. Uganda’s mineral wealth belongs to Ugandans. We must lead the way in how it is processed, marketed, and shared,” Mungufeni stated.
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