By BigEyeUg Team
In a significant milestone for Uganda’s mining sector, Euro Gold Refinery Limited was officially commissioned in July 2025, marking the establishment of what is widely regarded as the country’s first fully Ugandan-owned gold refinery.
This development comes at a Mme when gold has become Uganda’s top export commodity, contributing nearly 37% of the nation’s export revenue in the 12 months leading up to
February 2025 and accounting for almost 50% of non-coffee export earnings by June 2024.
Owned by Ugandan entrepreneur Feni Bernard, also known as Mungu Feni, the refinery aims to revolutionize the local gold industry by promoting value addition, combating fraud, and fostering sustainable practices.
Euro Gold Refinery is spearheaded by Feni Bernard, an Ugandan businessman and director of the facility, who is also associated with the Mungu Feni Foundation, an organization focused on community development in regions like West Nile.
Prior to Euro Gold, Uganda hosted several gold refineries, including Simba Gold Refinery, part of the Simba Group led by Ugandan entrepreneur Patrick Bitature.
Euro Gold’s emergence as the first entirely Ugandan-owned refinery addresses a long-standing gap, enabling greater local control over the value chain and reducing dependency on foreign entities.
The refinery holds a concession to mine gold across a 79.8 square kilometre area in Yumbe District, as well as sites in the Karamoja sub-region, positioning it to source raw materials directly from local artisanal miners.
The refinery was officially launched on July 29, 2025, in a ceremony abended by key government officials, including Energy and Mineral Development Minister Dr. Ruth Nankabirwa Ssentamu and State Minister for Minerals Phiona Nyamutoro.
Located along Plot 1 Katego Road in Kamwokya, Kampala, the $20 million facility represents a major investment in Uganda’s infrastructure.
The event also received blessings from spiritual leaders, such as Retired Archbishop Henry Luke Orombi, highlighting community and cultural support.
Minister Nankabirwa described the launch as a “catalyst for national prosperity,” aligning it with Uganda’s Vision 2040 goals for industrializing and a $500 billion GDP target.
She urged the refinery to collaborate with the Bank of Uganda’s Domestic Gold Purchase Programme to strengthen foreign reserves and emphasized the need for high environmental and regulatory standards.
Euro Gold Refinery was established to address persistent challenges in Uganda’s gold sector, including widespread scams by fake dealers, loss of tax revenues, and the export of unrefined gold, which diminishes local value capture.
By providing a credible platform for artisanal miners to sell their gold, the refinery aims to formalize the industry, protect livelihoods, and recover revenues for the government.
Economically, the facility is expected to create employment opportuniMes, boost local skills, and support auxiliary industries.
We will keep you posted
