As Uganda continues to battle persistent gold fraud scandals that have left foreign investors counting heavy losses, EuroGold Refinery has taken a bold leap onto the global stage, officially opening its main offices in Dubai—the world’s gold capital.
The move, announced with fanfare, comes at a time when Uganda’s gold sector remains under scrutiny for fake gold deals, vanished consignments, forged export papers, and shadowy middlemen who have repeatedly duped investors from Asia, Europe, and the Middle East.
Speaking at the opening, EuroGold founder and owner Benard Feni said the Dubai expansion was a long-held dream finally realised—driven largely by pressure from clients seeking security, transparency, and confidence.
“Opening offices in Dubai is a dream come true,” Feni said. “Dubai is a global hub for gold and commodities. Our clients wanted us here.”
Uganda’s gold industry has in recent years been rocked by high-profile fraud cases, some involving millions of dollars paid for gold that either never existed or mysteriously disappeared during shipment. These scandals have severely dented investor confidence in the country.
Feni admitted that trust remains a major concern when dealing with large investors targeting Africa.
“Many investors prefer working with companies that have offices in Dubai because of the strict due diligence and screening processes,” he explained. “Dubai gives assurance.”
Located in Business Bay, the new EuroGold Dubai office is intended to bridge the trust gap between international buyers and African suppliers. Under the new arrangement, gold will be shipped directly from EuroGold Uganda to EuroGold Dubai, allowing clients to collect their gold physically in Dubai—a major relief for investors burned by past shipment frauds.
“Many foreign clients complained that their gold never reached its destination,” Feni revealed. “Our Dubai operation is fully backed by the Ministry. All documentation is complete, and we are fully operational.”
The Dubai presence has already attracted interest from international firms eager to partner with EuroGold, especially in secure payments and procurement—areas that fraudsters in Uganda have long exploited.
“Some clients prefer to make payments in Dubai,” Feni said. “We then purchase, process the gold, and ship it directly to Dubai. That system protects everyone.”
With EuroGold Dubai now designated as the company’s main office, Feni says the firm is positioning itself as a safer alternative in a region tainted by gold scams. Plans are already underway to expand into China and Hong Kong.
“All these efforts are about making gold buying, transportation, and storage safer and more efficient,” he said.
Feni concluded by thanking Sheikh Ahmed Muhammed and Hugo Patricio of Light Moon Group Dubai for supporting the establishment of the Dubai offices—an expansion many see as EuroGold’s answer to Uganda’s troubled gold trade and a shield against the fraud that continues to haunt the sector.
ARE YOU A VICTIM OF GOLD TRADE FRAUD? CALL/TEXT / WHATSAPP: 0777959024 or EMAIL: redpeppertips@gmail.com , WITH AS MUCH EVIDENCE AS POSSIBLE. SOURCE PROTECTION IS OUR NO.1 PRIORITY.
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