Mineral Sector set to contribute $20 bn annually
According to projections from the Finance Ministry, Uganda’s mineral-based industrial development has the potential to contribute $20 billion annually to the country’s GDP under the 10-fold strategy. However, despite this promising outlook, the mining and minerals sector attracted only $3 billion in foreign direct investment in the financial year 2023-2024. Vincent Kedi, the Assistant Commissioner for Licensing and Development at the Ministry of Energy, highlights 11 key challenges, including financing, price volatility, and shifting investor focus.
