Akobo Minerals paves the way for a resurgent Ethiopian mining industry clearing a major hurdle for investors being granted the right to hold and repatriate foreign currency from offshore accounts
On the 30th of September, Akobo Minerals and the Ministry of Mines (MoM) entered into an agreement governing the future mining of the Segele project, and also opening up the Ethiopian mining sector by agreeing to the right to hold foreign currency on offshore accounts, and to repatriate profits from the same accounts. This has been the most difficult hurdle in attracting international investors to Ethiopia’s mining sector. Akobo Minerals is very proud to have been able to work closely with the MoM to make this possible. The agreement covers vital aspects of the mine development