Business 1 April 2026 Daily Monitor (Uganda)
Uganda Youth Encouraged to Enter Gold Trade as Entry Barriers Drop
Experts are pushing young Ugandans, especially fresh graduates facing high unemployment, to seize opportunities in the gold sector, which is becoming more accessible due to easing barriers and government reforms. The industry offers quick-to-learn skills and growth potential amid booming exports. Source: https://www.monitor.co.ug/uganda/news/national/youth-urged-to-tap-into-gold-trade-as-barriers-ease-5410644
Young Ugandans, particularly recent graduates, are being urged to dive into the gold trade as longstanding barriers fade, opening doors for ordinary entrepreneurs.
Speaking at an awarding ceremony at Euro Gold Refinery in Kampala on April 1, 2026, Ben Mungu Feni, the company’s director, emphasized that the sector is no longer reserved for elites. “Any determined young person can join and succeed by starting small, following procedures, and staying transparent,” he stated.
Uganda grapples with youth unemployment at 12.3 percent overall and 42.6 percent underutilization, with over 700,000 graduates entering the market yearly. Fewer than 13 percent land skilled formal jobs, per UBOS data.
The gold industry is booming, with exports surging 76 percent to $5.8 billion last year, fueled by higher production and global prices averaging $2,709 per ounce. Recent reforms have simplified licensing—now costing about Shs10 million annually—making legal entry feasible for youth.
Euro Gold Refinery, a local firm, won a key refining contract and employs mostly Ugandans trained at universities like Makerere and Kyambogo. Experts highlight the sector’s labor absorption potential, as many skills can be learned quickly.
Derrick Kiwanuka, president of the Uganda National Innovative Graduates Association, advised openness to hands-on alternatives like mechanics or crafts amid scarce formal jobs. He stressed practical skilling over rigid career paths.
Mungu Feni warned against illegal dealings, urging mentorship and legal compliance for sustainable success.
Source: Daily Monitor