The Benishangul Gumuz Regional State in Ethiopia has delivered 8,985 kilograms of gold to the National Bank of Ethiopia (NBE) for the concluded fiscal year, according to the regional Mineral Resources Development Bureau.
The shipment represents a significant contribution to the country's foreign exchange reserves, which have been under pressure from import demands and currency volatility.
The NBE has increasingly relied on domestic gold production to stabilize the birr and reduce reliance on external financing.
This development aligns with a broader global trend of central banks accumulating gold.
Recent data indicates that central banks purchased 41 tonnes of gold in May alone, with major buyers including Poland, China, Uzbekistan, and Kazakhstan.
The surge in official sector demand reflects a strategic shift toward diversifying reserves away from fiat currencies amid geopolitical uncertainties.