By Our Reporter
KARAMOJA
Bank of Uganda is to start buying Karamoja Gold directly from the local Artisanal miners.
This was revealed today by the BoU Governor, Dr. Michael Atingi-Ego during a Town Hall meeting held in Moroto today Thursday, 6th March, 2025.
The Governor says Karamoja’s gold has the potential to transform lives, but only if miners have fair market access and financial inclusion.
He says that instead of exporting raw gold, BoU is promoting domestic refining and value addition.
“Through the Domestic Gold Purchase Program, Bank of Uganda is ensuring that Karamoja benefits directly from its mineral wealth.” – Governor Atingi-Ego revealed.
He says Artisanal miners are encouraged to organize into SACCOs, making it easier to sell their gold directly to the Bank of Uganda and access financial services that support growth.
The Governor says BoU is aware that Karamoja is changing and wants to be part of that change.
He cited the emergence of industries like mining, cement production, and trade which he says are reshaping the economic landscape of this region.
“The marble factory in Rupa and the upcoming Ateker cement factory in Nadunget are not just projects; they are signs of hope, promising jobs, revenue, and investment,” he says.
However, for these industries to truly benefit the people of Karamoja, BoU must ensure that financial systems are in place to support miners, traders, and entrepreneurs.
The engagement in Moroto was not just about policy—it was about connection. In a moment of deep appreciation, the elders of Karamoja bestowed upon Governor Atingi-Ego the name LOKUT and dressed him in traditional Karimojong attire – the Akattukok suuka.
Senior Bank of Uganda officials were also adorned in traditional wear, a powerful symbol of respect, unity, and a lasting partnership. This was more than a town hall—it was a reaffirmation that Karamoja has not been forgotten.
