Share Issue/Capital Change • Aug 11, 2025
Share Issue/Capital Change
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Akobo Minerals secures Ethiopian Sovereign Fund's first international investment
OSLO, 11 August 2025 - Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO)
(OTC: AKOBF), a Scandinavian-based Ethiopian gold producer, proudly announces a
historic investment from Ethiopian Investment Holdings (EIH), the Sovereign
Investment Fund of Ethiopia. EIH will obtain a 7.4% ownership stake in Akobo
Minerals through the subscription of 15,000,000 new shares in a private
placement towards EIH, at a subscription price per share of USD 0.20, raising
total gross proceeds of USD 3,000,000. This marks the first time Ethiopia's
sovereign fund has invested in an international company. The funds will be used
to enable construction of a new vertical shaft that is expected to significantly
increase monthly production from 5-10 kg to 50-80 kg.
This landmark investment underscores Ethiopia's commitment to integrating with
global financial markets and highlights Akobo Minerals as a pioneering force in
the mining industry. As Ethiopia's sovereign wealth fund, EIH plays a pivotal
role in managing the country's commercial assets and spearheading strategic
investments that Diversify, Drive, and Deliver long-term value creation. The
decision to invest in Akobo Minerals signals EIH's intent to expand beyond
domestic markets and gain exposure to high-value international opportunities.
The decision to invest in Akobo Minerals marks Ethiopia's return to the global
stock market for the first time in over a century and sets a precedent for
future cross-border investments that strengthen both Ethiopia's position in
global markets and its domestic industries.
Dr. Brook Taye, CEO of Ethiopian Investment Holdings, commented: "Our investment
in Akobo Minerals represents a historic and strategic breakthrough for
Ethiopia's economic expansion. As our first international mining stake, it
reflects our 3D strategy-we diversify our investment portfolio, drive long-term
innovation, and deliver benefits for the nation. Akobo's sustainable approach
and expertise make it the perfect partner for this milestone."
For Akobo Minerals, this investment is a strong validation of its operations,
financial trajectory, and growth potential. The capital infusion is expected to
accelerate mining and exploration projects, fortify the company's financial
position, and enhance shareholder value.
Jørgen Evjen, CEO of Akobo Minerals, stated: "We are honored to be the first
international company selected for investment by Ethiopian Investment Holdings.
This milestone validates the strength of our Segele project and the confidence
in our long-term vision. As the initiator of this investment opportunity, we are
also proud to be paving the way for all Ethiopian investors to participate in
supporting their own industry. By investing in Akobo Minerals in the same way as
EIH, Ethiopian stakeholders can take part in the growth and success of one of
the country's most promising sectors. This has been a long process maturing over
an extended period, and it now fits together with Ethiopia's broader economic
reforms, creating a unique window of opportunity."
This investment aligns with Ethiopia's ongoing economic reforms, aimed at
attracting foreign investment, liberalizing key industries, and integrating the
nation's economy into global markets. The collaboration between EIH and Akobo
Minerals positions Ethiopia as a forward-thinking player in international
investment. This initiative will also enable local stakeholders to invest in one
of Ethiopia's most promising industries, reinforcing the nation's commitment to
fostering a globally competitive mining sector.
For more information:
Jørgen Evjen, CEO, Akobo MineralsDagmawi Zeleke
Mob: (+47) 92 80 40 14Ethiopian Investment Holdings
Mail: [email protected]: [email protected]
Web: www.akobominerals.com Web: www.eih.et
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act. This information is considered to
be inside information pursuant to the EU Market Abuse Regulation and was
published by Jørgen Evjen, CEO, on the date and time provided herein.
About Ethiopian Investment Holdings
Ethiopian Investment Holdings (EIH) is the strategic investment arm of the
Government of Ethiopia, established in 2021 to manage and optimize state-owned
commercial assets. With a focus on long-term value creation, EIH owns and
manages some 40 state-owned enterprises, including Ethiopian Airlines,
Commercial Bank of Ethiopia, Ethio Telecom, and Ethiopian Shipping and
Logistics. The fund aims to position Ethiopia as a key player in global
investment markets by acquiring strategic stakes in both domestic and
international enterprises.
About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold producer with an exploration license
covering 166 km² and a mining license covering 16 km² in Ethiopia's Gambela
region and Dima Woreda. The company's Segele mine boasts an Inferred and
Indicated Mineral Resource of 68,000 ounces, with an exceptionally high gold
grade of 22.7 g/ton. Akobo Minerals has been operational in Ethiopia for over 14
years and is recognized for its strong commitment to sustainability, ESG
principles, and community engagement.
Akobo Minerals is listed on Euronext Growth Oslo and the Frankfurt Stock
Exchange under the ticker AKOBO. It is also traded on the OTC Pink Market under
the symbol AKOBF.
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