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Akobo secures funds to advance Segele

  • August 13, 2025
  • Dagmawi Zeleke

Akobo secures funds to advance Segele

The investment highlights Akobo Minerals as a significant player in Ethiopia’s mining industry

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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