Ethiopia’s $340 Million Gold Mine to Solve its Dollar Shortage Woes | Firstpost Africa | N18G

Following a period of severe economic volatility, Ethiopia is pivoting toward its vast mineral wealth to stabilise its national currency. The Tulu Kapi Gold Project, located 360 kilometers west of Addis Ababa, has secured $340 million in financing. The gold project is set to begin commercial production by 2027, with an expected annual output of 164,000 ounces. This development comes at a crucial time. Since the government floated the Birr in July 2024 to secure IMF support, the currency has lost nearly two-thirds of its value, ranking as one of the world’s worst performers in 2025.