Ethiopia launches first kind of digital mineral marketplace in Africa

The Ethiopia Mineral Corporation has launched the first-ever Ethiopian Mineral Digital Trading platform, marking a significant step towards modernizing and streamlining the country’s mineral sector.

Built by local tech firm, EagleLion System Technology, the new digital platform is aimed at facilitating secure transactions, enforce stringent quality regulations, and safeguard the interests of customers.

The new mineral platform has also successfully coordinated a multi-sector collaboration with various stakeholders. This includes Ethio-post, which is involved in product shipment, the Ethiopian Minerals Corporation, focusing on retail and facilitating the mineral trading ecosystem, and Dashen Bank, handling payment facilitation. 

Additionally, global payment technology leader, MasterCard, has collaborated to help market and promote the platform to the world, while our company has conducted comprehensive multi-industry research to assess market value and potential obstacles to the platform development.

Ethiopia's ancient mineral sector, worth over USD 184.55 billion, contributes 1% to GDP and creates 120,000–150,000 jobs annually. However, the sector faces challenges, including illicit trade, long value chains, and others. Thus, The Ethiopian minerals digital marketplace aims to streamline the sector for transparent, efficient trade.

According to industry experts, the digital marketplace for the Ethiopian mineral industry is set to revolutionize Africa's mineral trading ecosystem, highlighting Ethiopia's untapped mineral potential to the global market.

“This platform primarily facilitates the trading of gemstones (hot rocks) and industrial minerals on an international scale. With this initiative, Ethiopia is poised to reaffirm its stature as Africa's Gem Giant.”