economy 1 October 2026 Nile Post
Uganda Aims for 7.9% GDP from Minerals by 2030
Uganda's government is intensifying efforts to increase the mining sector's contribution to the national GDP from 2.2% to a target of 7.9% by the year 2030. This ambitious goal is to be achieved through enhanced regulation, formalization of activities, increased investment, and greater value addition to mineral resources. Source: https://nilepost.co.ug/news/375038/uganda-targets-7-9-gdp-contribution-from-mineral-wealth-by-2030
Uganda has set an ambitious target to significantly boost the economic contribution of its mineral sector, aiming for 7.9% of the Gross Domestic Product (GDP) by 2030, up from the current 2.2%. State Minister for Minerals, Phiona Nyamutoro, announced this goal during the 15th Annual Mineral Wealth Conference.
The government is implementing a multi-pronged strategy to achieve this. Key initiatives include tightening regulations, reviewing existing mining licenses, and closing loopholes that facilitate the smuggling of valuable minerals like gold and copper out of the country. Minister Nyamutoro emphasized that such illicit trade deprives Uganda of substantial revenue.
The Annual Mineral Wealth Conference, themed “Beneath the Surface: Unlocking Africa’s Next Mining Powerhouse,” brought together government officials, investors, and industry stakeholders to deliberate on strategies for maximizing the economic benefits derived from Uganda’s mineral wealth. Discussions centered on enhancing investment, promoting value addition, strengthening regulatory frameworks, and fostering overall industry development.
To combat illegal mining operations, the minister issued a stern warning to unlicensed operators, stating that such activities will be shut down. The government is also undertaking a comprehensive review of all issued licenses to weed out unscrupulous investors and ensure greater accountability within the sector.
Beyond stricter oversight, Uganda is actively seeking to attract more investment across the entire mineral value chain, from exploration and extraction to processing and refining. The focus is shifting from exporting raw minerals to adding value domestically, thereby retaining more economic benefits within the country. The ministry is even considering the establishment of an independent authority to oversee mineral resource management, further bolstering accountability and efficiency in the sector.
These efforts are integral to Uganda’s broader development agenda, which identifies the mineral sector as a key driver for economic growth in the coming decade. The conference concluded by recognizing outstanding contributions within the mining industry, with Wagagai Mining being among the awarded companies.