• Ethiopia earned $6.76 billion export revenue in first 8 months of FY 2025/26

• Export performance achieved 101% of government target

• Coffee exports generated over $1.5 billion, leading all commodities

• Gold exports exceeded $1 billion, driven by increased deliveries

• Oilseeds and pulses contributed over $1.2 billion combined

• Horticulture exports surpassed $500 million, showing steady growth

Why it matters?

Stronger export performance improves forex liquidity, easing import constraints and supporting trade, logistics, and industrial supply chains in Ethiopia.

• Benishangul-Gumuz delivered more gold in 7 months than entire previous fiscal year total.
• Seven-month gold deliveries reached 100%+ of prior year annual output benchmark.
• Region accounts for a significant share of Ethiopia’s total gold export volumes.
• Gold remains one of Ethiopia’s top foreign exchange earning commodities.
• Deliveries driven mainly by artisanal and small-scale mining operations.
• Government collection and supply monitoring mechanisms contributed to higher reported volumes.

why it matters?

Exceeding 100% of last year’s output in seven months signals stronger FX inflows and improved gold supply tracking in Ethiopia’s mining sector.

• Ministry of Mines issued production licenses to three companies on March 13, 2026. 

• Ethiopian Investment Holding received a potash production license. 

• ZYTB-DIM Steel Manufacturing received an iron production license. 

• Bero Mining received a gold production license. 

• The three projects are expected to require USD 4.2 billion in combined investment. 

• Ministry said the projects aim to expand mineral output, exports and reduce foreign exchange losses. 

• ZYTB-DIM said it plans to produce 2 million metric tons every two years. 

Why it matters?
The licenses move three mining projects from exploration into production. For Ethiopia, that affects export earnings, industrial raw material supply, and future fertilizer and steel input availability. 

The National Bank of Ethiopia (NBE) plans to exit the gold purchasing and export market by December 2026, ending its monopoly and opening the sector to private banks, according to the IMF’s Fourth Review. This shift follows sustained financial losses and market distortions attributed to NBE’s premium-based gold purchases. 

Key Takeaways:

• Policy change: NBE will cease gold market operations by end-December 2026. 

• Market entry: Private banks will be permitted to buy gold domestically post-exit. 

• Cost issue: NBE’s prior 15 % premium above international prices led to losses and balance-sheet strain. 

  
  

Why It Matters:

• Zijin Gold International agreed to acquire Allied Gold Corporation for C$5.5 billion (about US$4.0 billion) in an all-cash transaction at C$44 per share, a 27% premium to the 30-day average. 

• Transaction financed entirely from Zijin’s cash reserves with no financing conditions and expected closing by late April 2026. 

• Shareholder & regulatory approvals required; Allied directors holding ~15.4% of shares have agreed to support the deal. 

• Upon completion, Allied Gold will be delisted from the Toronto and New York stock exchanges. 

• Deal includes a C$220 million termination fee payable by Allied under specified conditions. 

Why it matters: This acquisition significantly increases Zijin’s portfolio of large-scale gold assets in Africa, including those in Ethiopia, and reflects continued consolidation in the global mining sector. The all-cash structure provides immediate value to Allied Gold shareholders without financing contingencies.