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ADDIS ABABA - KEFI Gold and Copper plc (AIM:KEFI) announced today that the Ethiopian Parliament has ratified the Africa Finance Corporation’s (AFC) Ethiopian Country Membership, a pivotal step for the advancement of the Tulu Kapi Gold Project financing. The AFC’s participation as a co-lender, alongside the Eastern and Southern African Trade and Development Bank (TDB), was contingent upon this membership, which has now been granted.
The ratification, which occurred on Tuesday, aligns with the Ethiopian government’s pre-agreed conditions and allows KEFI to proceed with the subsequent stages of the project launch. The Tulu Kapi Gold Project, located in Ethiopia, is a key focus for KEFI, which specializes in gold and copper exploration and development within the Arabian-Nubian Shield.
With the AFC’s Ethiopian Country Membership now formalized, KEFI is poised to continue its project development in accordance with the agreed schedule. The company anticipates that the Tulu Kapi Gold Project will produce significant cash flows, enabling capital repayments, further exploration, and potential dividends for shareholders.
The news comes after KEFI’s previous announcement on May 6, 2025, detailing the impending ratification. The company’s executive chairman, Harry Anagnostaras-Adams, and finance director, John Leach, are the primary contacts for the Tulu Kapi Gold Project, supported by a team of financial and public relations advisors.
This development marks a significant milestone for KEFI Gold and Copper plc, as it solidifies the financial framework necessary for the Tulu Kapi Project to move forward. The company’s strategic plans for the project have been designed to leverage the natural resources within the region, aiming to boost both local and shareholder value.
The information in this article is based on a press release statement from KEFI Gold and Copper plc.
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