Ethiopia’s Segele Gold Mine Set for Tenfold Output Jump After $3M State-owned Fund Investment
BaseLine Team
11 Aug, 2025
Gold output from Ethiopia’s Segele mine could rise by as much as tenfold after Ethiopian Investment Holdings (EIH) injected $3 million into Oslo- and Frankfurt-listed Akobo Minerals AB.
The state-owned sovereign wealth fund acquired a 7.4% stake via a private placement of 15 million shares at $0.20 each. Funds will be used to build a vertical shaft at the Gambela-region project, lifting monthly production from 5–10 kilograms to 50–80 kilograms.
The deal marks Ethiopia’s re-entry into global equity markets for the first time in over a century and forms part of EIH’s “3D strategy” to diversify its portfolio, drive innovation, and deliver economic benefits.
Akobo Minerals’ Segele deposit holds an estimated 68,000 ounces of gold at an average grade of 22.7 grams per ton. The company is also traded on the U.S. OTC Pink Market under AKOBF and has operated in Ethiopia for 14 years with a focus on sustainability and community engagement.
