Ethiopia Launches First Gold-Linked Investment Shares

Ethiopia just took a major leap forward in making mining investment accessible to ordinary people, not just big corporations.

KEFI Gold & Copper, a London-listed mining company, announced a groundbreaking financial tool on June 18 that lets Ethiopian investors buy special shares linked to gold prices. These shares, settled in local currency but valued in US dollars, represent the first of their kind in the country.

The announcement came at the UK-Ethiopia Investment Forum in London, where KEFI partnered with CBE Capital Investment Bank to create this new investment vehicle. Regular investors and local financial institutions can now directly support Ethiopia's growing gold and critical minerals industry.

This comes right after KEFI secured $240 million in financing for its flagship Tulu Kapi Gold Project, Ethiopia's first internationally funded gold mine. That project already has full funding and construction underway.

The new shares will raise additional money to speed up development of a second underground mine at Tulu Kapi. The funds will also fuel exploration for untapped gold and critical mineral deposits across Ethiopia.

Executive Chairman Harry Anagnostaras-Adams emphasized that this fresh capital won't dilute existing shareholders. Instead, it provides flexible growth funding while the main project moves forward on schedule.

The partnership with CBE Capital marks a turning point for how international companies can work with emerging African markets. Zemedeneh Negatu, CEO of CBE Capital, explained that the gold-linked structure shows how global firms can tap into local investment appetite while contributing to national development.

The Ripple Effect

This innovation does more than fund one company's expansion. It demonstrates that Ethiopian capital markets are maturing rapidly, creating new pathways for both local and international investors to participate in the country's resource development.

The timing aligns with broader momentum in Ethiopian finance, including a recent €10 million initiative to help women and youth entrepreneurs access capital markets. These developments signal growing confidence in Ethiopia's economic infrastructure among global investors.

For everyday Ethiopians, gold-linked investment shares offer a hedge against currency fluctuation while supporting job creation in the mining sector. The Tulu Kapi project alone will employ thousands once operational.

The model could inspire similar structures across East Africa, where resource-rich nations seek innovative ways to attract investment without losing local ownership opportunities.

Ethiopia's mining sector is entering a new era where modern finance meets ancient gold deposits, and both international markets and local communities can share in the prosperity.