Euro Gold Refinery has taken legal action against Monitor Publications, NTV Uganda, and journalists Andrew Kyamagero and Busein Samilu, accusing them of publishing false and damaging reports. The company claims these reports have harmed its reputation and led to significant financial losses.
Represented by Candia Advocates and Legal Consultants, the refinery has filed a lawsuit demanding a public apology, removal of the disputed content from social media, and compensation for lost business opportunities.
According to Euro Gold Refinery, the media outlets aired and published an investigative report between October 2 and 4, 2024, linking the company to a fraudulent gold deal that allegedly cost German investor Christian Arndt Shs5 billion. Reports titled “How Investor Lost Shs5 billion in Gold Scam” by the Daily Monitor and an NTV investigative feature “German National in Tears After Being Fleeced” portrayed the company as being involved in illegal gold trade, smuggling, and fraudulent documentation.
Managing Director Ben Feni stated that the accusations have had severe consequences, including the cancellation of contracts worth millions of dollars and the closure of the company’s accounts at Stanbic Bank Uganda.
“Over ten business partners and clients lost confidence in us, resulting in the termination of major transactions,” Feni said. “The negative publicity has not only damaged our brand but also led to a surge in negative online reviews, undermining the trust we have built over the years.”
The refinery maintains that it operates legally under strict government supervision and has been actively promoting transparency in Uganda’s gold trade.
“We are a licensed, reputable company committed to adding value to Uganda’s mineral sector,” Operations Manager Sam Anecho emphasized. “These baseless allegations not only tarnish our image but also hurt Uganda’s credibility as a gold trade hub.”
The company also criticized the media houses for not seeking its response before publishing the reports.
“They never reached out to us for comment. Instead, they created misleading narratives,” Anecho added.
Euro Gold Refinery’s lawyer, Emmanuel Candia, pointed out that social media has amplified the impact of the alleged defamation.
“Unlike traditional broadcasts, YouTube and social media content continue to spread indefinitely, worsening the damage,” Candia explained. “This case could set an important precedent for corporate reputation protection in Uganda.”
The defendants have been served court summons and are required to file their defense within 15 days.