KEFI Minerals welcomes lifting of state of emergency in Ethiopia

KEFI Minerals, the gold exploration and development company announced on Monday that the Ethiopian government had lifted the country's state of emergency and that it continued to enjoy its support on progressing the Tulu Kapi gold project.

The state of emergency imposed in October was lifted following a vote in the country's parliament with officials saying the country now has fewer security issues.

Defence Minister Siraj Fegessa was quoted by Al Jazeera as stating that: "we have been able to deal with armed terrorists, anti-peace elements and troublemakers."

In light of that announcement, KEFI said it would continue to progress its Tulu Kapi gold project in Western Ethiopia towards development with the help of Addis Ababa.

The outfit also pointed out how in its latest "Global Economic Prospects" report, published in June 2017, the World Bank had forecast that Ethiopia would be the world's fastest growing economy in 2017.

Commenting on the news, analysts at house broker SP Angel said, "the company was able to progress Tulu Kapi during the State of Emergency in Ethiopia, however its removal is welcome news and should enhance the country's profile as an investment destination described in June 2017 by the World Bank’s Global Economic Prospects as “the world’s fastest growing economy in 2017."