KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) told investors that the Ethiopian Council of Ministers has now approved Ethiopian Country Membership for Africa Finance Corporation (AFC).
The approval is a critical condition for AFC to participate in financing the Tulu Kapi Gold Project. AFC joins the Eastern and Southern African Trade and Development Bank, which already holds Country Membership.
KEFI said the matter is now with the Ethiopian Parliament for formal legislative proclamation.
The company said it will now proceed with the scheduled launch steps for the project in coordination with the Ethiopian Government and the project syndicate.