Gold producer and exploration company Akobo Minerals has secured an investment from Ethiopian Investment Holdings (EIH), the Sovereign Investment Fund of Ethiopia. EIH will obtain a 7.4% ownership stake in Akobo through the subscription of 15,000,000 new shares in a private placement towards EIH, at a subscription price per share of USD 0.20, raising total gross proceeds of USD 3,000,000.

The funds will be used to enable construction of a new vertical shaft that is expected to significantly increase monthly production from 5–10 kg to 50–80 kg at the Segele gold project. The investment underscores Ethiopia’s commitment to integrating with global financial markets and highlights Akobo Minerals as a significant player in the country’s mining industry.

Jørgen Evjen, CEO of Akobo Minerals, stated: “We are honoured to be the first international company selected for investment by Ethiopian Investment Holdings. This milestone validates the strength of our Segele project and the confidence in our long-term vision. As the initiator of this investment opportunity, we are also proud to be paving the way for all Ethiopian investors to participate in supporting their own industry.

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As Ethiopia’s sovereign wealth fund, EIH plays an important role in managing the country’s commercial assets and spearheading strategic investments that diversify, drive, and deliver long-term value creation. The decision to invest in Akobo signals EIH’s intent to expand beyond domestic markets and gain exposure to high-value international opportunities.

Dr. Brook Taye, CEO of Ethiopian Investment Holdings, commented: “Our investment in Akobo Minerals represents a historic and strategic breakthrough for Ethiopia’s economic expansion. As our first international mining stake, it reflects our 3D strategy—we diversify our investment portfolio, drive long-term innovation, and deliver benefits for the nation. Akobo’s sustainable approach and expertise make it the perfect partner for this milestone.”