Ethiopia has generated 513.9 million USD from the export of gold in the last 11 months, according to Mines Minister Takele Uma during a press conference.
It was said that gold, which is exported through the National Bank of Ethiopia, has become the second most valuable export product in terms of foreign currency after coffee exports. The ministry is working with the National Bank of Ethiopia to improve the country’s gold reserves and export business. Furthermore, the government has been overhauling the mining business in recent years in order to maximize the benefits the nation gains from the resource.
The minister stated that “the government has created an enabling environment for both domestic and foreign companies to invest in the country,” noting that the government has implemented a welcoming policy and revised workable proclamation to create an enabling business environment for investors to engage in the mining sector.
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