Stanbic Bank Uganda has reaffirmed its commitment to supporting the growth of Uganda’s mining sector, describing minerals as the country’s next frontier for economic transformation and industrialisation.
The commitment was announced during a press briefing held at the Uganda Media Centre ahead of the 2026 Mineral Wealth Conference and Expo, scheduled for September 29-30 at Speke Resort Munyonyo.
The conference, organised by the Uganda Chamber of Energy and Minerals (UCEM), will convene government leaders, investors, financiers, mining companies, development partners and industry experts to explore opportunities within Uganda’s rapidly evolving extractives sector under the theme: “Beneath the Surface: Unlocking Africa’s Next Mining Powerhouse.”
Representing Stanbic Bank Uganda, Executive Vice President for Public Sector, John Tumwine, said the bank views mining as a strategic pillar in Uganda’s ambition to build a modern, industrial economy.
“Stanbic Bank firmly believes that the mineral sector is the next frontier for unlocking Uganda’s macroeconomic transformation into a fully industrialised economy. Our continued sponsorship of the Mineral Wealth Conference reflects our confidence in the sector and our commitment to supporting conversations that turn Uganda’s immense mineral potential into tangible economic value,” Tumwine said.
He noted that the conference aligns with Stanbic’s purpose, “Uganda is our home, we drive her growth,” adding that the bank has been involved in Uganda’s mining industry for decades, including as a founding member of the former Uganda Chamber of Mines and Petroleum, now the Uganda Chamber of Energy and Minerals.
Tumwine said Uganda’s estimated US$4 trillion to US$12 trillion in untapped mineral wealth presents an unprecedented opportunity for industrialisation, employment creation and value addition.
“As the country’s leading financial partner, our ambition goes beyond financing mineral extraction. We want to support processing, refining and value addition so that more economic value remains in Uganda. Through the strength of Standard Bank Group, we can structure complex financing solutions, connect local operators to international capital and support responsible investment anchored on global environmental, social and governance standards,” he said.
He added that Stanbic is already supporting major projects such as the Makuutu Rare Earth Project while working to expand financing and enterprise development opportunities for artisanal miners through partnerships with the Stanbic Business Incubator.
The State Minister for Mineral Development, Hon. Phiona Nyamutoro, said Uganda has entered a defining moment in the development of its mineral resources following major reforms and increased geological exploration.
She said government had prioritised mineral development as a key driver of industrialisation, job creation and economic growth.
“Uganda is richly endowed with minerals that have the potential to transform our economy. Our focus is ensuring these resources create lasting value through responsible mining, local value addition and increased participation of Ugandan businesses. The Mineral Wealth Conference provides an important platform to attract investment, promote partnerships and position Uganda as a competitive mining destination,” Nyamutoro said.
The Minister also commended private sector partners such as Stanbic Bank for supporting the growth of the sector through financing, investment advisory services and long-term partnerships.
Uganda Chamber of Energy and Minerals Board Chairperson Aggrey Ashaba said this year’s conference comes at a time when global demand for critical minerals is rising, creating new opportunities for Uganda.
“The world is looking for reliable sources of critical minerals needed for the global energy transition, and Uganda is well positioned to become one of Africa’s leading mining destinations. The conference will bring together policymakers, investors and industry players to discuss how Uganda can unlock this opportunity while ensuring sustainable and responsible resource development,” Ashaba said.
Uganda possesses commercially viable deposits of gold, rare earth elements, graphite, iron ore, limestone and phosphates, among other minerals. Recent high-resolution airborne geophysical surveys have also identified significant potential deposits of lithium, nickel, uranium and other strategic minerals.
Ashaba further revealed that the ongoing implementation of the Mining and Minerals Act, 2022, coupled with nationwide geological mapping and reforms aimed at improving transparency and investor confidence, has created a stronger foundation for responsible sector growth.
With more than 500,000 Ugandans engaged in artisanal and small-scale mining, industry stakeholders say expanding access to finance, improving skills, strengthening cooperatives and investing in mineral processing will be critical to ensuring the sector delivers inclusive economic benefits.
The two-day conference will feature investment forums, policy dialogues, exhibitions and business-to-business engagements aimed at positioning Uganda as one of Africa’s emerging mining investment destinations while advancing the country’s long-term industrialisation agenda.
