Source: African Insider

Uganda’s gold exports surged more than 10-fold in 2023 despite U.S. sanctions on a major processor in the East African country, data from the central bank showed on Tuesday. Uganda, which has emerged as a major hub of gold trade in the region, exported gold worth $2.3 billion in 2023, compared with $201 million over the previous twelve months, Bank of Uganda data showed.

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Uganda’s gold exports surged more than 10-fold in 2023 despite U.S. sanctions on a major processor in the East African country, data from the central bank showed on Tuesday. Uganda, which has emerged as a major hub of gold trade in the region, exported gold worth $2.3 billion in 2023, compared with $201 million over the previous twelve months, Bank of Uganda data showed.