UGANDA: HOW ILLICIT TRADE IS AFFECTING GOLD SECTOR

All Africa on 7th January reported that the gold sector is in the clutches of cartels which have been handed free rein by government to set the rules of the game. This, it says, is because government has not streamlined the processes of registration and supervision in the sector, and companies are relying on a complex system to hide funds in safe havens and secrecy jurisdictions.  One of the companies said to be facing investigation is Africa Gold Refinery (AGR) owned by wealthy Belgian businessman Alain Goetz – who is said to be close to the political establishment in Uganda.

https://allafrica.com/stories/201901070331.html

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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