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On 06 May 2025, KEFI Gold and Copper plc announced that the Ethiopian Council of Ministers formally approved Ethiopian Country Membership for Africa Finance Corporation (AFC). This approval, a critical condition precedent for AFC's participation as a co-lender in KEFI's Tulu Kapi Gold Project financing, is now with the Ethiopian Parliament for proclamation in legislation.
| Date | 6 May 2025 |
| Time | 07:00:13 |
| Category | Corporate updates |
| ID | 3465H |
6 May 2025
KEFI Gold and Copper plc
("KEFI" or the "Company")
Tulu Kapi Project Update
KEFI (AIM: KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield, is pleased to report that the Ethiopian Council of Ministers has formally approved Ethiopian Country Membership for Africa Finance Corporation ("AFC"), which is now with the Ethiopian Parliament for proclamation in legislation.
AFC is one of KEFI's co-lenders for the Tulu Kapi Gold Project ("Tulu Kapi" or the "Project"). Country Membership is a critical condition precedent for AFC's participation in the Project financing alongside Eastern and Southern African Trade and Development Bank (TDB) which already has Ethiopian Country Membership.
Following this positive development, KEFI will continue with the scheduled Project launch steps, as pre-agreed with the Ethiopian Government and the Project syndicate.
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KEFI Gold and Copper plc |
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Harry Anagnostaras-Adams (Executive Chairman) |
+357 99457843 |
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John Leach (Finance Director) |
+357 99208130 |
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SP Angel Corporate Finance LLP (Nominated Adviser) |
+44 (0) 20 3470 0470 |
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Jeff Keating, Adam Cowl |
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Tavira Financial Limited (UK Lead Broker) |
+44 (0) 20 7100 5100 |
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Oliver Stansfield, Jonathan Evans |
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IFC Advisory Ltd (UK Financial PR) |
+44 (0) 20 3934 6630 |
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Tim Metcalfe, Florence Staton |
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3PPB LLC (North American Financial PR) |
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Patrick Chidley |
+1 (917) 991 7701 |
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Paul Durham |
+1-203-940-2538 |
Notes to Editor
KEFI Gold and Copper plc
KEFI is focused primarily on the development of the Tulu Kapi Gold Project in Ethiopia and its pipeline of highly prospective exploration projects in the Arabian-Nubian Shield. KEFI targets that production at Tulu Kapi will generate cash flows for capital repayments, further exploration and dividends to shareholders.