The Ethiopian Council of Ministers has formally approved Ethiopian Country Membership for Africa Finance Corporation (AFC). This decision is now with the Ethiopian Parliament for proclamation in legislation.
AFC is one of the co-lenders all set to finance the Tulu Kapi gold project, which is being developed by KEFI Gold and Copper (KEFI).
Country Membership is a critical condition precedent for AFC's participation in financing Tulu Kapi alongside Eastern and Southern African Trade and Development Bank (TDB), which already has Ethiopian Country Membership.
Following this positive development, KEFI will continue with the scheduled project launch steps, as pre-agreed with the Ethiopian government and the project syndicate.
View from Vox
More pieces of the Tulu Kapi puzzle are falling into place, as development work becomes imminent. It’s a propitious time to be building a gold mine, with gold at well over US$3,000 per ounce, and everybody knows it. So don’t be surprised if the final pieces slot into place rapidly, and construction proceeds apace.