Ethiopian Investment Holdings (EIH) announced today a landmark transaction that signals the country's return to the international stock market after a century-long absence. The state-owned enterprise completed its first international investment by acquiring a 7.4 percent ownership stake in Akobo Minerals, a gold exploration and mining company operating in Ethiopia.

The deal, which saw the EIH complete its first global investment transaction, is seen as a pivotal step for the institution to expand beyond domestic markets and enhance its international competitiveness.

Dr. Brook Taye, CEO of EIH, emphasized the strategic importance of the move. "Engaging in international investment will not only ensure Ethiopia's economic benefit but also open the door to attracting foreign direct investment," he stated.

Akobo Minerals, which currently produces 5 to 10 kilograms of gold per month, is expected to see a significant increase in its production capacity. Following the EIH investment, production is projected to rise to between 50 and 80 kilograms per month.

The acquisition is being celebrated as a historic occasion, marking Ethiopia’s official reentry into the global stock market for the first time in 100 years, according to FBC.