For many years, Ugandans saw the gold trade as a foreign-dominated domain. It was often informal and opaque. However, one man has challenged that perception over the last seven years. Benard Feni has turned skepticism into opportunity and informal trading into a credible, regulated business.
He has become a trailblazer in Uganda’s burgeoning gold sector. Through his company, Euro Gold Refinery (EGR), Feni has reshaped the industry narrative. He has proven Ugandans can not only participate but compete internationally.
His journey is built on remarkable consistency and credibility. He has maintained a spotless reputation with no criminal record for seven years. This is rare in a business often clouded by fraud allegations. Instead, he focused on transparency, compliance, and building solid partnerships.
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Euro Gold Refinery, launched in Kampala in 2025, is Uganda’s first fully Ugandan-owned licensed gold refinery. It produces gold refined to 99.9% purity, meeting international bullion standards.
Feni ensured his business was fully documented, licensed, and operationally transparent. This gave confidence to both local artisanal miners and global traders.
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His company did more than just refine gold. It formalized artisanal mining partnerships. Euro Gold signed MoUs with mining associations. It also facilitated safe, traceable gold sourcing from regions like Mubende and Abim.
These agreements helped local miners secure fair compensation. They also provided access to higher-value markets, moving beyond selling raw gold at a loss.
Feni’s strategy extends beyond Uganda’s borders. Euro Gold now connects with international markets, including the United Arab Emirates. This gives Ugandan gold a direct pathway to global buyers.
This development is significant. Uganda’s gold export earnings have soared recently. The sector generated a record US$5.8 billion in the year ending November 2025. Gold is now one of the nation’s top export earners.
By aligning domestic refining with global standards, Feni helped shift the country’s economic approach. Uganda is moving from exporting raw minerals to value-added products. This aligns with strategic government priorities for value addition and industrial growth.
Feni’s influence extends socially as well. He mentors newcomers and partners with artisanal miner groups. He also advocates publicly for legitimate business practices. His work encourages Ugandan youth to enter the gold trade ethically. This transforms perceptions and creates sustainable livelihoods.
By blending entrepreneurship, ethical sourcing, and global connectivity, Benard Feni has built a reputable business. He has also helped elevate Uganda’s gold sector into a formal, credible, and globally competitive industry.
