A promising sector
Due to a wide variety of untapped mineral resources, the mining sector is expanding. Gold, tantalum and potash reserves were, among others, recently discovered.
In addition to being the second largest producer of opals, Ethiopia is also a major African gold exporter. In 2016, 170 licensed companies were engaged in the exploration and development of gold.
The Government of Ethiopia has set-up an incentives package aiming to attract investors in the mining sector.
Investors notably benefit from: (i) reduced corporate income taxation, (ii) extended loss carry forward, (iii) accelerated depreciation and (iv) customs tax exemptions.