KEFI Minerals pleased with 'smooth transition' of Ethiopian government

KEFI Minerals on Tuesday welcomed the appointment of new state ministers in Ethiopia and stated it is in communication with the nation’s government regarding the Tulu Kapi Gold Project.

Following the appointment of Dr Abiy Ahmed as Prime Minister of Ethiopia on 2 April, the country’s government has seen a raft of new appointments as the nation’s leadership undergoes a transitional period.

AIM-traded gold exploration and development firm KEFI Minerals is partnered with the government in ownership of the Tulu Kapi project’s operator, Tulu Kapi Gold Mine Share Company Limited, and said its representatives are seeking to work closely with all other involved parties.

In a statement, the company sought to highlight that despite the transitional period Ethiopia is again expected to see the highest growth country in Sub-Saharan Africa this year according to the IMF, with mining listed as a priority sector.

Also noted was the international bond market’s positivity regarding the nation’s "smooth transition" to new leadership, boding well for the company’s KEFI Infrastructure Bond.

As of 1639 BST, KEFI Minerals’ shares were down 3.56% at 2.58p.