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The 14th Annual Mineral Wealth Conference, held on September 24–25 at the Kampala Serena Hotel, marked a historic moment for Uganda’s mining sector.
Among the celebrated figures was Mr Mungufeni Ben, recognised by Mr Andrew Makaka, head of the Uganda Minerals Association, as the sole Ugandan investor to fully own a gold refinery in the country, Euro Gold Refinery Uganda Limited.
Hailed as one of Uganda’s most influential investors, Mungufeni’s venture is redefining the mineral industry, in line with the conference’s theme, “Sustainable Mineral Development through Collaboration, Innovation, and Green Transitions.”
A trailblazer in Uganda’s mineral sector
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Mungufeni Ben, known both as a Gospel artist and as CEO of Euro Gold Refinery, is the force behind Uganda’s first fully locally-owned gold processing facility. Launched in July 2025 by Energy and Mineral Development Minister Hon Ruth Nankabirwa, the Kamwokya-based refinery is a step toward retaining value within Uganda. His achievement as the first local investor to establish a refinery highlights his role in transforming a sector long dominated by foreign entities.
At the conference, Mungufeni spoke on sustainable refining and local ownership. His recognition by Makaka underlined Euro Gold Refinery’s position as a 100% Ugandan-owned enterprise, setting a new benchmark for national participation in a sector key to Uganda’s Vision 2040.
Euro Gold Refinery: a beacon of innovation
Euro Gold Refinery is the third licensed refinery in Uganda, but the first fully owned by a Ugandan. Using Italian technology, it refines gold to 99.9% purity without chemical waste, meeting international environmental and quality standards.
At the conference, Mungufeni spoke on sustainable refining and local ownership
With a Shs 178 billion investment, the refinery supports the Bank of Uganda’s Domestic Gold Purchase Programme by supplying high-purity gold for national reserves. It also creates a local market for Ugandan-made jewellery, including wedding rings.
The impact goes beyond Kampala. Mungufeni owns a 79.8 sq km mining concession in Yumbe District and partners with artisanal miners in Abim through the Kakoka Artisanal Mining Association. By sourcing gold locally, Euro Gold supports more than 400,000 small-scale miners and indirectly benefits about two million dependents. The refinery is expected to create hundreds of jobs, strengthening community development and economic empowerment.
A visionary’s dual legacy
Mungufeni’s journey is as inspiring as his achievements. Known for his Gospel music, he has merged cultural influence with entrepreneurship. His example has made him a role model for youth, many of whom joined industry leaders and policymakers at the conference.
Hon Phiona Nyamutoro, Minister of State for Mineral Development, attended the event, reinforcing the government’s commitment to beneficiation under the Mining and Minerals Act 2022. Euro Gold Refinery aligns with this vision, ensuring that Uganda’s vast mineral wealth—estimated at over 31 million tonnes of gold ore—benefits its citizens.
The 14th mineral wealth conference: a platform for progress
Organised by the Uganda Chamber of Energy and Minerals (UCEM), the conference attracted over 1,500 stakeholders, including government officials, international partners such as AHK Eastern Africa, and banks like NCBA and PostBank Uganda. Discussions focused on value addition, green technologies, and financing.
Phiona Nyamutoro, Minister of State for Mineral Development, attended the event
Euro Gold Refinery was a highlight, showing how local innovation can help Uganda grow its GDP from $50 billion to $500 billion by 2040. The event also showcased Uganda’s mineral potential, with exhibitions of green cement and polished gemstones, and launched UCEM’s “30 Days of Mining Media Campaign.”
For Mungufeni, the conference opened doors to partnerships in refining, trading, and exports, cementing his role as a driver of change.
A bright future for Uganda’s mineral sector
Mungufeni Ben’s recognition at the 14th Mineral Wealth Conference is not just a personal triumph but a milestone for Uganda. His Euro Gold Refinery reflects the nation’s shift towards a locally-owned, sustainable, and competitive mining industry.
As Uganda leverages its mineral wealth for transformation, Mungufeni stands as proof of what is possible when vision meets opportunity. Euro Gold Refinery welcomes partners who uphold ethical sourcing and international standards. Mungufeni’s story is a call to Ugandans: the future of the nation’s mineral wealth lies in their hands.