Gold is Uganda’s top foreign exchange earner/ photo from Blessed Riverstones Uganda Ltd website
Blessed Riverstones Uganda Ltd, a Ugandan gold trading company, has unequivocally dismissed allegations circulating in certain media outlets linking its Chief Executive Officer, Jailes Bahati Mumbere, to a purported $2 million gold fraud.
In an official statement issued through its Director of Operations, Simon Obel Omondi, the company described the accusations as false, malicious, and defamatory, orchestrated by Kasongo Mwana Kitenge Deo, a Congolese national with a history of fraudulent conduct within the regional minerals trade.
“The allegations are baseless. Mr. Kasongo has never deposited gold with Blessed Riverstones, nor has he made any payment of $2 million or any sum whatsoever to our company or its officers. His claims are a fabrication intended to extort money and tarnish our reputation,” said Omondi.
Disputed Documentation and Investigation
The company confirmed that the documents presented by Kasongo to support his claim were found to be forgeries, lacking any legal or transactional connection to Blessed Riverstones.
According to management, the alleged documents neither bear the names of Kasongo nor his spouse, and were not issued or authenticated by any Ugandan authority or company representative.
Blessed Riverstones further disclosed that the matter had already been brought to the attention of relevant law-enforcement agencies, including the State House Anti-Corruption Unit, the Mineral Police Protection Unit, and the Directorate of Geological Survey and Mines, all of whom have confirmed ongoing investigations into the actions of the said broker.
“As a company, we are fully cooperating with all government institutions to ensure that the truth is established and that the perpetrators of this misinformation are held personally liable under Ugandan law,” Omondi added.
Commitment to Ethical Trade
Blessed Riverstones Uganda Ltd reaffirmed its unwavering commitment to lawful mineral trade, transparency, and compliance with Uganda’s Mining and Minerals Act (2022). The company emphasized that it remains one of the few entities operating under a valid license issued by the Directorate of Geological Survey and Mines and continues to uphold international best practices in gold sourcing and export.
“We urge members of the public, investors, and international partners to disregard these baseless accusations and to exercise due diligence when dealing with individuals purporting to represent licensed gold exporters,” Mr. Omondi concluded.
Blessed Riverstones has also hinted at taking legal action against the perpetrators of the defamatory campaign for reputational damage, malicious falsehood, and economic sabotage.
CEO in Good Health and Active Service
The company also dismissed speculative media reports suggesting that CEO Mumbere had been hospitalized or incapacitated.
“Our Chief Executive Officer is in good health and actively engaged in company operations from our headquarters in Kigoowa, Ntinda. Reports alleging otherwise are irresponsible and intended to distract from the real issue — the criminal deception being peddled by Mr. Kasongo and his accomplices,” the statement read.
About gold exports
Gold is now Uganda’s top foreign exchange earner. In the first five months of 2025, Uganda earned over $2 billion from gold exports, reaching a total of $1.91 billion, with May’s earnings hitting $485.83 million. The UAE is the leading destination for Uganda’s gold. For the 2024/2025 financial year, total gold export earnings reached $4.2 billion, according to the Bank of Uganda.
