Ecobank urges Uganda to go beyond digging for mineral wealth

What the report says

Ecobank Uganda Managing Director Grace Muliisa used a breakfast event at the 15th Annual Mineral Wealth Conference in Speke Resort Munyonyo to argue that Uganda will gain more from its minerals if it moves beyond exporting raw materials. The Independent Uganda reported that she said the country needs financing, partnerships and stronger links across the value chain so minerals can support processing, manufacturing, jobs and industry.

Muliisa framed Uganda’s opportunity around what happens after extraction, saying value is created further downstream through refining, component production and equipment manufacturing. Her remarks, reported by The Independent, also highlighted regional and continental markets, including East Africa and the African Continental Free Trade Area, as potential outlets for processed mineral products.

The conference was organised by the Uganda Chamber of Energy and Minerals and brought together government officials, mining companies, investors and financial institutions. Muliisa said Ecobank wants to help finance mining and related businesses, and noted the bank has supported mineral-related projects across Africa. She also called for more use of domestic savings, including pension money, in mature projects through structured financing.

The article said the government is considering stronger sector regulation, including a standalone minerals regulator, while the European Union is expanding support for Uganda’s mining sector with additional funding. More broadly, the discussion reflects a common policy debate in resource-rich countries: whether mineral wealth should remain an export business or become a base for industrial development.