https://en.sputniknews.africa/20260128/ugandas-gold-surge-transforming-economic-prospects-in-the-face-of-a-weakening-dollar-1082899969.html
Uganda's Gold Surge: Transforming Economic Prospects in the Face of a Weakening Dollar
Uganda's Gold Surge: Transforming Economic Prospects in the Face of a Weakening Dollar
Sputnik Africa
As gold prices hit a record high, weakening the US dollar, it establishes that it's more than a precious metal in times of global uncertainty. Uganda's record... 28.01.2026, Sputnik Africa
2026-01-28T15:57+0100
2026-01-28T15:57+0100
2026-01-28T15:57+0100
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Uganda's Gold Surge: Transforming Economic Prospects in the Face of a Weakening Dollar
Sputnik Africa
As gold prices hit a record high, weakening the US dollar, it establishes that it's more than a precious metal in times of global uncertainty. Uganda's record gold export is a strategic shift offering a blueprint for using resource wealth to build a more diversified and sovereign African economy in a new global era.
The surge in gold prices has catalyzed a historic trade surplus and currency appreciation, demonstrating how leveraging natural resources can create immediate macroeconomic stability. As a result, Uganda, long celebrated for its robust coffee exports, with a formalized and booming gold refinery sector, has transformed into a regional trade hub. To explore Uganda’s golden rise, Pan-African Frequency had an insightful conversation with Dr. Peter Babyenda, the policy engagement coordinator at the College of Business and Management Sciences, Makerere University, Uganda, as he explains what this boom means for the broader African market, regional stability, and the continent’s voice in global finance.Curious to hear more? Tune in to the full conversation on the Pan-African Frequency podcast, brought to you by Sputnik Africa.In addition to the website, you can also catch our episodes on Telegram.► You can also listen to our podcast on Apple Podcasts, Spotify, Deezer, Pocket Casts, Afripods, and Podcast Addict► Check out all the episodes of Pan-African Frequency
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sputnik africa, africa, podcasts, east african community (eac), common market for eastern and southern africa (comesa), uganda, ghana, kenya, gold, de-dollarization, african continental free trade area (afcfta), us dollar, trade, economy, аудио
sputnik africa, africa, podcasts, east african community (eac), common market for eastern and southern africa (comesa), uganda, ghana, kenya, gold, de-dollarization, african continental free trade area (afcfta), us dollar, trade, economy, аудио
Uganda's Gold Surge: Transforming Economic Prospects in the Face of a Weakening Dollar
As gold prices hit a record high, weakening the US dollar, it establishes that it's more than a precious metal in times of global uncertainty. Uganda's record gold export is a strategic shift offering a blueprint for using resource wealth to build a more diversified and sovereign African economy in a new global era.
The surge in gold prices has catalyzed a historic trade surplus and currency appreciation, demonstrating how leveraging natural resources can create immediate macroeconomic stability. As a result, Uganda, long celebrated for its robust coffee exports, with a formalized and booming gold refinery sector, has transformed into a regional trade hub. To explore Uganda’s golden rise, Pan-African Frequency had an insightful conversation with Dr. Peter Babyenda, the policy engagement coordinator at the College of Business and Management Sciences, Makerere University, Uganda, as he explains what this boom means for the broader African market, regional stability, and the continent’s voice in global finance.
“It is true we see a gold surge, and more especially here in Uganda. There are factors to that. As a country, Uganda is endowed with gold reserves, and we have largely been having informal activities on the gold, but now we have a law, that allows even some companies now to formally join gold extraction. So that led to the increase in gold. But two, the value addition. So now we have refineries that have come up [....] Uganda for the first time recorded a trade surplus; that means the surge in gold contributed to that [....] But we also have industrial and trade deals that Uganda may negotiate with other countries, for example, Ghana and Kenya, and start to have joint refineries, as well as joint EAC, COMESA, and African Continental Free Trade Area [initiatives] to favor the local refining,” Babyenda highlighted.
Curious to hear more? Tune in to the full conversation on the
Pan-African Frequency podcast, brought to you by
Sputnik Africa.In addition to the website, you can also catch our episodes on
Telegram.► Check out all the episodes of Pan-African Frequency 
