As Uganda accelerates efforts to turn its mineral wealth into greater economic and industrial value, dfcu Bank has reiterated its support for businesses across the mining value chain with financing, insurance, and foreign-exchange risk-management solutions.
The bank noted that its support addresses key financial and operational needs for operators across the mining spectrum, including artisanal and small-scale miners, helping them acquire productive assets, safeguard operations, and manage exchange-rate exposure as the sector works to overcome barriers to investment, productivity, and growth.
Speaking ahead of the 15th Mineral Wealth Conference at the Uganda Media Centre, Moses Malinga, Sector Head – Infrastructure and Energy, dfcu Bank, emphasized that the bank’s tailored support is rooted in direct, boots-on-the-ground engagement with industry operators to evaluate the sector’s real challenges.
“We have actually been to the field. We have gone and met with some of these artisanal miners. We know their concerns,” Malinga said, explaining that capital access represents only one aspect of industry hurdles.
To address these gaps, Malinga said dfcu has partnered with insurance firm Minet to extend medical and accident covers to artisanal operators. Simultaneously, the bank is deploying structured asset-financing options for equipment acquisition and evaluating foreign-exchange risk management tools to shield businesses from shilling fluctuations.
He noted that access to finance, appropriate equipment, insurance and risk-management services remain important considerations for businesses seeking to move from small-scale and informal operations towards more productive commercial enterprises.
“Our solutions give artisanal and small-scale miners an opportunity to combine access to productive assets with insurance and other services, while larger businesses can benefit from solutions designed to manage financing and currency risks,” he said.
According to Malinga, dfcu seeks to provide miners and other players in the value chain with solutions that respond to their businesses rather than relying solely on conventional lending.
The bank’s financing initiative coincides with broader state measures urging private investors to move beyond raw mineral exports.
The Minister of State for Energy and Mineral Development (Minerals) Phiona Nyamutoro, emphasized the necessity of domestic processing and manufacturing capacity.
“Our ambition must go beyond just knowing what lies beneath our soil. We must translate our mineral potential into productive investments, employment, industrial capacity, value addition, and sustainable national wealth,” Nyamutoro stated.
Nyamutoro said unlocking the potential of the sector would require investment in technology, skills, infrastructure, finance and geological knowledge, supported by appropriate regulatory frameworks.
She urged investors, financiers and technology providers to participate across the mineral value chain, from exploration and extraction to processing, refining and manufacturing.
Uganda has identified over 58 mineral categories, including gold, iron ore, rare earth elements, cobalt, and lithium. Uganda Chamber of Energy and Minerals Chairperson Aggrey Ashaba added that predictable regulatory policies remain critical to securing long-term capital for local industrialization.
Uganda Chamber of Energy and Minerals chairperson Aggrey Ashaba emphasized the need for Uganda to strategically harness its mineral wealth to drive industrialisation, generate mass employment, and unlock broader economic opportunities.
“Having mineral potential is not enough. We must develop that potential in a way that creates jobs, attracts investment, builds local businesses and contributes meaningfully to Uganda’s socio-economic transformation,” Ashaba said.
He noted that secure access to capital remains vital for empowering local enterprises to participate meaningfully as the country transitions from raw extraction toward domestic processing, refining, and manufacturing.
Ashaba added that unlocking this potential requires scaled private-sector investment, underpinned by specialized financial and risk-management tools that enable operators to acquire modern machinery, expand their operational footprints, and move further up the mineral value chain.
The 15th Annual Mineral Wealth Conference and Expo 2026, will be held on September 29–30 at Speke Resort Munyonyo under the theme, “Beneath the Surface: Africa’s Next Mining Powerhouse.”
