Ethiopia has launched its first gold refinery, joining African countries seeking to process more of their precious metals locally and
Ethiopia has launched its first gold refinery, joining African countries seeking to process more of their precious metals locally and capture greater value from mineral exports.
The $50 million facility, located in the Bole Lemi Special Economic Zone, will process gold from Ethiopia and neighbouring countries, offering services including refining, testing, certification and gold bar production.
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Abiy Ahmed, the Prime Minister said the refinery would help keep more of the continent’s gold processing within Africa.
“It enables neighbouring countries and regional mining companies to bring their gold to Ethiopia for advanced refining, certification, value addition, and sale, eliminating the need to export it outside the continent,” Abiy said in a post on X on Saturday.
State-owned Ethiopian Investment Holdings holds a majority stake in the joint venture. The launch comes as gold exports become a major source of foreign exchange for Ethiopia, generating $5.6 billion last year, according to government data.
Ethiopia joins regional refining drive
Ethiopia’s entry adds to a growing list of African countries with gold-refining facilities, including Ghana, South Africa, Tanzania, Uganda and Zambia.
Ghana has several reported refineries, including Gold Coast Refinery, Goldridge Refinery and Royal Ghana Gold Refinery, as it seeks to retain more value from its gold industry. South Africa is home to Rand Refinery in Germiston, a major international precious metals processing centre.
Tanzania operates facilities including Mwanza Precious Metals Refinery, while Uganda hosts African Gold Refinery in Entebbe. Zambia also has several reported gold-refining facilities.
Other countries have established or are developing domestic capacity. Burkina Faso inaugurated its RAFFINOR-BF refinery in September 2026, while Sudan, Rwanda, Zimbabwe, South Sudan and Kenya have reported gold-refining or processing operations. The Democratic Republic of Congo has smaller regional facilities, while Mali has projects under development, including the proposed Senou Gold Refinery.
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The expansion reflects efforts by African producers to reduce reliance on overseas processing and earn more from refining, certification and related services.
For Ethiopia, the refinery could generate processing income, create specialised jobs and attract gold supplies from neighbouring markets. Its success will depend on securing reliable supplies, meeting international quality standards and competing with established refineries across the continent.
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Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance.