KME Minerals (Ethiopia) Holding S.C., a subsidiary of KEFI Gold and Copper Plc, has appointed CBE Capital Investment Bank as adviser for the proposed issuance of US dollar-denominated, ETB-settled, gold-linked preference shares to selected Ethiopian financial institutions.
The announcement was made during the Ethio-British Business Investment Forum held in London.
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According to the company, the proposed issuance aims to strengthen strategic partnerships with major Ethiopian financial institutions while raising capital to support the expansion of Ethiopia’s gold and critical minerals sector.
The funds are expected to support the next phase of development at the Tulu Kapi Gold Project, including preparatory work for the planned Tulu Kapi Underground Gold Mine and early-stage exploration activities in other parts of the country.
KEFI Executive Chairman Harry Anagnostaras-Adams said the mandate reflects growing innovation in Ethiopia’s capital markets and mining industry.
“The Tulu Kapi Gold Project is already funded and under development. This investment is intended to provide additional growth capital to accelerate opportunities beyond our current development plan while maintaining financial flexibility and preserving value for shareholders,” he said.
CBE Capital Investment Bank CEO Zemedeneh Negatu described the transaction as a landmark for Ethiopia’s financial sector.
“As a pioneering investment bank, we are pleased to arrange what would be Ethiopia’s first US dollar-denominated, ETB-settled and gold-linked preference share issuance,” he said.
The transaction comes as Ethiopia’s capital market ecosystem continues to expand, introducing new financing instruments aimed at mobilizing long-term investment into strategic sectors of the economy.
CBE Capital Investment Bank and Orior Capital Hong Kong are serving as financial advisers to KEFI on the proposed transaction.
