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In September 2019, Uganda's Finance Ministry increased the amount of protected deposits from UShs3 million (US$830) to UShs10 million (US$2,760). [7] As of that date, the fund covered deposits in 34 contributing financial institutions, including 24 commercial banks, 5 credit institutions and 5 micro finance deposit-taking institutions. [7]
Magnus International Resources (US), Anglo Uganda Corp. (UK), and Grey Crown Resources Ltd. (Canada) are some of the foreign companies working for gold extraction in Uganda. [10] Gold mining is also done by artisans. [1] The first case of gold production was recorded in 1992, and, in 2000 Uganda, produced 56 kilograms (123 lb) of gold. [11]
The Rupa Gold mine of Karamoja, Uganda is an artisanal (informal) mine located approximately 10 km north of Moroto Town in Uganda’s Karamoja region. After years of instability caused by inter-clan cattle raiding and a decade-long military disarmament campaign in Karamoja, many people in the region have been finding alternatives to their traditional semi-nomadic pastoralist lifestyles.
As of June 2019, according to the Uganda Deposit Protection Fund, total banking assets in the country were USh 30.3 trillion (US$8.34 billion), with total customer deposits of USh 22 trillion (US$6.05 billion), held in approximately 14 million deposit accounts.
Test drills near the site’s “peripheral areas” found more gold, suggesting that the deposit could be even larger. In all, there could be over 1,000 metric tonnes of the precious metal at the ...
This is a list of regulated "Microfinance Deposit-taking Institutions" in Uganda. They are supervised and regulated by the Uganda Microfinance Regulatory Authority (UMRA). [1] FINCA Uganda Limited [2] Pride Microfinance Limited [2] UGAFODE Microfinance Limited [2]
Gold coins buried in a small pot and dated to the fifth century B.C. were discovered in modern-day Turkey. Archaeologists believe that the coins—based on their location underneath a Helensitic ...
Since 1995, Uganda has experienced rapid economic growth, but it is not clear to what extent this positive development can be attributed to Structural Adjustment. [25] Uganda is a member of the World Trade Organization, since 1 January 1995 and a member of the General Agreement on Tariffs and Trade, from 25 October 1962. [26]