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Uganda finds $12M (trillion?) worth of gold.

Uganda’s gold industry is evolving rapidly, but not without its challenges. A recent case involving Ham Musoke, who allegedly defrauded the government of $12 million (trillion?) in tax revenue through gold imports from the DRC, highlights ongoing issues with regulatory compliance.

Despite this, Uganda’s gold sector continues to thrive, positioning itself as a key driver of economic growth and a major export. The government’s push to strengthen the mining industry reflects broader ambitions to compete with regional heavyweights like the DRC and Tanzania.

The situation underscores the delicate balance between opportunity and regulation, as Uganda strives to harness its resources for sustainable development.