Business
Ethiopia on Track to Becoming Africa’s Next Gold Powerhouse with Upcoming $340 Million Tulu Kapi Mine
Ethiopia has taken a major step toward reshaping its mining sector after securing $340 million in financing to develop the Tulu Kapi gold project, a move that could position the country as one of Africa’s emerging gold producers.
According to a report by Business Insider Africa, the funding package includes about $240 million in long-term debt from African development lenders and $100 million in equity, enabling project developer KEFI Gold and Copper to advance the venture into full-scale construction. Once operational, Tulu Kapi is expected to become Ethiopia’s largest modern gold mine.
KEFI Executive Chairman Harry Anagnostaras-Adams confirmed that the debt arrangements have now been fully signed, triggering activity on the ground.
“We are delighted that the Tulu Kapi debt offering has now been signed by all the relevant parties. This has triggered further activity at site as part of the launch of full project development and is allowing the remaining equity proposals to be finalised amongst the assembled local and specialist investors,” he told Business Insider Africa.
Anagnostaras-Adams added that the timing is strategic, noting that global gold prices are at record highs, making the project particularly attractive to investors.
“With the gold price at a record high, this is the perfect time to be launching Tulu Kapi,” he said.
Production Outlook and Economic Impact
Located approximately 360 kilometres west of Addis Abeba, the Tulu Kapi mine is designed as an open-pit operation, with potential for underground expansion in later phases. The project is expected to produce around 164,000 ounces of gold annually during its first seven years, with commercial production targeted for 2027, according to Business Insider Africa.
At those levels, the mine would rank among Ethiopia’s most significant gold operations, offering a substantial boost to foreign exchange earnings at a time when many African economies are grappling with currency pressures.
Early preparatory works are already underway, including housing development, road access, and power infrastructure, signalling that full construction is imminent.
Government Partnership and Strategic Shift
The Ethiopian government is a key partner in the project, holding a carried interest and committing to an equity stake. The arrangement reflects Addis Abeba’s broader strategy to modernise its mining sector, which has historically been constrained by underinvestment and artisanal operations.
Business Insider Africa notes that Tulu Kapi is expected to serve as a flagship investment, showcasing Ethiopia’s largely untapped mineral potential and helping to attract additional foreign direct investment into the sector.
Regional Context
The project also fits into a wider continental trend. Across Africa, governments are seeking to extract greater value from natural resources, particularly gold, which has increasingly been used as a hedge against currency shortages and external economic shocks. Countries such as Ghana, Sudan, and several Sahel states have stepped up state involvement in mining to stabilise public finances.
For Ethiopia, the successful development of Tulu Kapi could mark a turning point—transforming mineral wealth into jobs, infrastructure development, and sustained hard-currency revenues, while elevating the country’s profile in Africa’s gold industry.
Business
Young Self-Taught Black Inventor Julian Brown Develops Revolutionary Plastic-to-Fuel Technology
Atlanta, USA – A young Black inventor from Atlanta, Julian Brown, has stunned the scientific community and gone viral worldwide after developing a backyard process that converts everyday plastic waste into usable diesel, gasoline, and jet fuel.
Born in Tennessee and raised in Atlanta, Brown — a self-taught welder with no formal degree or laboratory — created a system called “Plastoline.”
Using an upgraded form of pyrolysis (a thermal decomposition process), enhanced with microwaves and solar energy for cleaner conversion, he built a small reactor capable of turning discarded plastics back into high-quality fuel.
Independent tests reportedly confirmed that the diesel and gasoline produced are among the most refined seen, and he has successfully powered vehicles with the fuel in live demonstrations.
Brown launched a startup called Nature Jab and began sharing his experiments on Instagram and TikTok, where the videos quickly gained millions of views globally. Despite suffering second-degree burns in a reactor explosion, he refused to abandon the project.
He attempted to raise $1 million to scale the technology but secured only tens of thousands of dollars. In July 2025, he posted that he was under attack before temporarily vanishing from public view.
He has since re-emerged, with supporters calling for his protection and greater investment in his work.
The innovation has sparked particular excitement across Africa, where plastic waste accumulates in massive quantities in landfills and communities.
Experts say Brown’s technology could offer a practical solution for turning waste into energy, addressing both environmental pollution and fuel shortages on the continent.
Commentators have criticised the lack of substantial support from investors and the broader community, questioning why a breakthrough with such transformative potential, especially from a young Black inventor, has not received wider backing.
Business
MTN Signals Major Data Center Investment Plans in Ghana
Accra, Ghana – MTN Group is exploring significant investments in data centers in Ghana as Part of its digital push.
The telecoms giant says the move is a natural extension of its broader digital infrastructure strategy in one of its most important African markets.
Group Chief Executive Officer Ralph Mupita made the announcement during a strategic visit to Ghana at the beginning of 2026. He said the company is keen to partner with both public and private stakeholders to develop large-scale data centers that would enhance cloud computing, data storage, and digital service capabilities across the country.
Mupita stated that such facilities are critical to supporting Ghana’s long-term digital transformation and economic growth.
He acknowledged, however, that establishing world-class data centers would require addressing key infrastructure challenges, particularly reliable power supply, suitable land, and advanced cooling systems. MTN is therefore considering collaborative models to ensure projects meet both commercial viability and sustainability standards.
During his engagements, Mupita held discussions with MTN Ghana’s leadership, regulators, and senior government officials, including the Bank of Ghana, the Ghana Investment Promotion Centre, and Minister for Communications, Digital Technology and Innovations, Sam George.
He described Ghana as a priority market that “feels like home” and reaffirmed the Group’s commitment to deepening investments in digital infrastructure and financial inclusion.
On the fintech front, Mupita highlighted plans to expand mobile money services while working closely with the central bank to strengthen fraud prevention through artificial intelligence.
The visit underscored MTN’s ambition to remain a key partner in Ghana’s digital economy, driving innovation, job creation, and inclusive growth.
MTN Ghana (Scancom PLC) is the dominant telecommunications market leader in Ghana and has been recognized as a top-performing operation within the MTN Group. The company is actively shifting from a traditional telco to a technology platform company, with a focus on fintech (Mobile Money) and digital inclusion.
Business
New Cashew Processing Plant and Fertilizer Facility to be Set Up in Ghana
Accra, Ghana – Ghana’s Ministry of Food and Agriculture has signed three Memoranda of Understanding with Chinese firm SENTUO Group Limited to drive agro-industrial growth through major new investments in processing, fertiliser production, and farmer support services.
The agreements, signed in Accra on Tuesday, include the establishment of a cashew processing plant at Sampa in the Bono Region and a fertiliser manufacturing facility. SENTUO will also roll out 30 Farmer Service Centres nationwide to improve access to quality inputs, mechanisation services, and technical support for farmers.

The projects are expected to create significant employment opportunities, particularly for young people, while enhancing value addition and reducing Ghana’s reliance on raw commodity exports.
Minister for Food and Agriculture Eric Opoku described the partnership as a major step toward the government’s Agriculture for Economic Transformation Agenda.
“We are ready to industrialise Ghana’s agriculture,” he said, adding that the cashew plant will process both nuts and apples to maximise returns across the entire value chain.
He emphasised the need to move from exporting raw produce to building a vibrant, value-driven agro-industrial economy.
The Chairman of SENTUO Group Limited, Xu Mingjuan, said the company’s nearly 20 years of operation in Ghana and the current government’s 24-hour economy policy had encouraged further investment. He confirmed that engineers have already started preliminary work on the projects.
The deals signal growing Chinese interest in Ghana’s agricultural transformation and are expected to strengthen food security, boost exports, and create sustainable jobs across the value chain.
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