Ethiopia

Scandinavian gold producer Akobo Minerals is accelerating development at its Segele mine in Ethiopia, reporting significant progress and signaling an imminent shift to positive cash flow. For the second quarter of the year, the company posted revenues of SKr9.6-million, and it anticipates this figure to increase in the third quarter, …

Ethiopian miner Akobo Minerals’ board of directors has decided to convert the company’s previously announced convertible loans of NOK 25.5 million and NOK 11 million in accordance with the terms of the loan agreements. According to the company, the conversion will result in the issuance of 26,383,292 new shares in the …

Addis Ababa, Ethiopia – Ethiopia has officially inaugurated the Grand Ethiopian Renaissance Dam (GERD), a $5 billion hydroelectric project on the Blue Nile that is expected to double the country’s power generation capacity. The dam’s completion, however, has reignited long-standing diplomatic disputes with downstream nations, Egypt and Sudan. Prime Minister …

Pan-African telecommunications and network services provider, Paratus Group, has completed its expansion programme into East Africa. This expansion forms part of the Group’s ongoing efforts to connect communities and businesses across sub-Equatorial Africa with reliable digital infrastructure. Across East Africa, Paratus is providing reliable digital services to meet the needs …

Finland has emerged as the world’s most attractive jurisdiction for mining investment, reclaiming the top spot in the Fraser Institute’s 2025 Annual Survey of Mining Companies. The Nordic nation’s ascent from 16th place last year signals a shift in global investor confidence toward stable, well-governed jurisdictions. The Fraser Institute’s report, …

The Southwestern Ethiopian Peoples’ Regional State has delivered 150 kilograms of gold to the National Bank of Ethiopia during the current fiscal year, halving its initial target of 300 kilograms. Gebremariam Setegn, Director General of the Regional Mining and Energy Development Agency, attributed the shortfall primarily to illegal trade and …

Addis Ababa – A new chapter in Afro-Asian trade relations is being written in the mineral-rich earth of Ethiopia, as the East African nation and India officially launched a groundbreaking report today, highlighting the vast, untapped potential for mineral exports and investment. The joint initiative aims to unlock a new …

NAIROBI – A bombshell report by SwissAid, a leading non-governmental organisation, has cast a dark shadow over Kenya, alleging the East African powerhouse has become a major hub for the smuggling and resale of illicit gold sourced from war-torn South Sudan, Sudan, and the Democratic Republic of Congo (DRC). The …

The Ethiopian Finance Ministry has announced the signing of five major investment deals, worth more than $1.6bn (214.99bn birr), to bolster the country’s minerals and energy sectors. These agreements, predominantly with Chinese companies, are part of Ethiopia’s economic reform strategy. The deals were secured during the two-day Ethiopia High-Level Business …

Forget coffee and injera for a moment. Ethiopia’s earth is proving to be a veritable treasure chest, with the Ministry of Mines announcing a staggering $2.1 billion windfall from gold exports in the first nine months of the 2017 fiscal year. This glittering performance, revealed during a high-level review attended …