KAMPALA, Uganda — Security agencies have launched an investigation into an alleged gold-smuggling ring used to funnel international funds into the 2026 general election, sparking concerns of a foreign-backed plot to destabilize the country.
At the center of the investigation is Almohen Trade Ltd., a Ugandan export company accused of acting as a front for unidentified financiers in Qatar. Investigators claim the company received massive cash injections disguised as gold trade capital, but officials said there is no paper trail for the purported exports.
The investigation comes as the government intensifies a crackdown on what it terms subversive activities. Authorities said they believe the missing millions were intended to finance nationwide demonstrations and public unrest following the recent polls.
The Masaka Chief Magistrate Court recently heard that the Rev. Deusdedit Ssekabira, a high-ranking cleric in the Masaka Diocese, allegedly concealed 500 million Ugandan shillings between 2023 and 2025 at Centenary Bank. State prosecutors contend these funds are proceeds of crime, while the Uganda People’s Defence Forces have labeled the priest’s activities as violent subversion.
President Yoweri Kaguta Museveni, speaking from his Rwakitura home, confirmed that the priest’s detention is tied to a clandestine network supporting opposition leader Robert Kyagulanyi Ssentamu, popularly known as Bobi Wine. The president suggested the funds were not mere donations but part of a coordinated effort to incite countrywide unrest following the Jan. 15 general election.
The president confirmed he personally rejected pleas from the Bishop of Masaka, the Rt. Rev. Serverus Jjumba, to release the cleric. Museveni linked the priest’s detention directly to his associations with Ssentamu.
Investigators are now weaving these domestic arrests into a larger international tapestry. Suspicion has fallen on Almohen Trade Ltd., a local export firm currently under fire for its ties to unidentified financiers in Qatar. Security sources allege the company used sophisticated gold dealings to move massive amounts of untraceable cash into Uganda, providing the financial oxygen for the subversion Ssekabira is accused of facilitating.
Almohen Trade Ltd. has denied the allegations, describing the claims of election interference as false, misleading and defamatory.
On its official platforms, the company portrays itself as a premiere mineral exporter specializing in copper cathodes and rare minerals with a focus on ethical behavior and integrity.
Security sources indicate that the preliminary investigation is focused on tracing the intended beneficiaries of the Qatari funds.
Government officials are reportedly piling pressure on investigators to move swiftly, arguing that the scheme represents a direct attempt to undermine the rule of law.
Security agencies warned that further arrests are imminent as they investigate what they describe as a conspiracy to hijack the 2026 democratic process.
