Uganda Joins Growing Number of African Countries Turning to Gold

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Uganda Joins Growing Number of African Countries Turning to Gold​

Uganda has joined the growing number of African countries turning to gold to support their currencies.

The Ugandan central bank has announced a domestic gold-buying program to buy gold directly from local artisanal miners.

According to a statement on the Bank of Uganda’s website, “The gold purchase program will help in accumulating foreign currency reserves and address the associated risks in the international financial markets."

More:

https://www.moneymetals.com/news/2024/07/12/uganda-joins-growing-number-of-african-countries-turning-to-gold-003314