Directors Face Jail as Uganda Government Investigates 20 Gold Companies: Police & Energy Ministry Inquiring into Alleged Fraud

The chief police publicist Kituma Rusoke has corroborated the Energy Ministry’s Geology & Mining Commissioner Agnes Alaba’s information indicating that a total of not less than 20 private companies involved in gold deals in Uganda are currently being investigated.

That the companies are being inquired into under the broad investigations being spearheaded by the Police Minerals Protection Unit (PMPU). It’s all relating to alleged illegal activities, including scamming investors from Asia, North America and Europe of their hard-earned money (in billions of shillings).

The latest media reporting, including by Weekend Vision, enumerates the impugned companies to include Muyenga-based Howks Guard Security, Nsambya-based B-Safe Security Systems Ltd, Duck Hunters Security Services, Aurus Traders Ltd, Spanex Cargo Company Ltd, Kerlibar Logistics and Hey Transport Ltd.

There is also Midasgko Mineral Trade whose top management says the entire reporting is untrue. They say that their company is merely a victim of targeted negative publicity witch-hunt, aimed at ruining their reputation.

Besides the PMPU, State House Anti-Corruption Unit (SHACU) and the Defense Intelligence & Security of the UPDF (formerly CMI) are also involved in investigating the alleged fraudulent activities relating to gold trade in Uganda.

Ms Agnes Alaba says that gold transactions-related scamming has lately been on the rise in Uganda and the government is determined to work out mitigation measures to placate investors from being defrauded. They are also looking at centralization the gold trading and strengthening regulation.

Alaba adds that a report jointly authored by Police’s PMPU and the Energy Ministry was recently proclaimed and it’s the one guiding on the different things different companies have to be inquired into about. Late last year, there was an inter-agency crisis meeting during which it was agreed to inquire into growing scamming claims among key players in Kampala’s gold trade.

Some of the victims whose whistle blowing prompted this inter-agency response include Thomas Vinal, an Indian, whose complaint was specifically targeted at Howks Guard Security (and more than Shs7bn/$2m was involved). Another investor complained about B-Safe Security Systems in relation to his hard-earned $140,000 (or Shs521m).

PMPU also twice investigated Aurus Traders Ltd under two files: namely CRB 093/2025 & GEF/006/2025. Another Indian investor, Ajith Pahuja, complained about his $73,250/Shs273m which caused PMPU to become interested into the activities of Spanex Cargo Company Ltd. They equally picked interest in Midasgko Mineral Trade Ltd.

According to Weekend Vision reporting, the other companies of interest to investigators involved in the ongoing inquiry include Kerlibar Logistics, Hey Transport Ltd, Berkshire Traders Ltd, Quantum Refineries & Analytical Laboratories, Gemstone Refinery, Progress Mining Logistics, Blessed River Stone Ltd, Cyclopes Defence Systems Ltd, Alakara Processing Plant SMC Ltd, Alpha Refinery Ltd, Davinnet Gold Dealers Ltd, Liverstrong Logistics and Real Sunex Ltd.