Where to Buy Gold in Ethiopia | Prices, Tips & Trusted Dealers 2025
Buy gold in Ethiopia, Ethiopia, one of Africa’s emerging gold producers, is becoming an attractive destination for local and international gold buyers. Whether you’re a seasoned investor or a first-time buyer, Ethiopia offers access to high-purity gold bars at competitive prices. From bustling markets in Addis Ababa to government-approved mineral trading centers, there are many safe and affordable ways to invest in gold. In this guide, we’ll cover where to buy gold in Ethiopia, updated price ranges, legal requirements, and how to ensure your purchase is secure and legitimate.
Overview of Ethiopia’s Gold Market
Ethiopia has a rapidly growing gold market, making it one of Africa’s emerging gold-producing nations. The country has significant gold reserves, with mining operations ranging from large-scale industrial mines to small-scale artisanal mining. The Ethiopian government actively supports the gold industry by encouraging foreign investment, implementing favorable policies, and improving mining regulations.
Gold mining contributes significantly to Ethiopia’s economy, with the precious metal being one of the country’s top exports. The National Bank of Ethiopia (NBE) regulates gold trading, ensuring compliance with legal frameworks. Gold buyers in Ethiopia can source gold from legal dealers, private miners, and licensed brokers, making it a promising market for investors and traders.
Reasons Why Ethiopia is a Great Place to Buy Gold
1 Rich Gold Reserves and High Production
Ethiopia has a variety of gold deposits in regions like Oromia, Benishangul-Gumuz, and Tigray. These areas are known for their high-quality gold, which makes Ethiopia a reliable source for buyers. With ongoing exploration projects, gold production continues to rise, ensuring a steady supply for investors. Buy gold in Ethiopia
2 Competitive Gold Prices Compared to Global Markets
Gold prices in Ethiopia are often lower than in Western and Asian markets due to local mining costs and favorable exchange rates. Buyers can find competitive prices when purchasing directly from miners or licensed dealers, which makes it a cost-effective investment.
3 Government Support and Legal Frameworks
The Ethiopian government has implemented policies to regulate and support the gold trade. The National Bank of Ethiopia ensures transparency in transactions, while licensing requirements help protect buyers from fraud. Recent reforms in mining laws have also encouraged foreign investment, making it easier for international buyers to participate in the market.
4 Strong Demand for Gold in International Markets
Ethiopian gold is highly sought after in world markets, mostly in the Middle East, Europe, and Asia. Investors who buy gold in Ethiopia can benefit from strong resale demand which makes it a profitable business. The country’s growing export ties with gold hubs like Dubai and China further enhance its attractiveness as a gold-buying destination. Buy gold in Ethiopia
Laws & Regulations for Gold Buyers in Ethiopia
Ethiopia has a well-established legal framework governing gold buying, selling, and exporting. The National Bank of Ethiopia (NBE) oversees gold trade regulations to ensure transparency and prevent illegal activities like smuggling.
The key legal aspects for gold buyers in Ethiopia
1 Licensing Requirements
All Individuals and businesses must obtain a gold trading license from the Ministry of Mines to legally buy and sell gold in Ethiopia, and foreign buyers may need to partner with local firms or obtain special permits for gold exports.
2 Authorized Gold Sources
Only licensed gold miners, traders, and brokers can sell gold legally, and artisanal miners must sell their gold to the government or approved dealers.
- Export Regulations
All buyers exporting gold must comply with strict customs regulations and declare their gold to Ethiopian authorities and the NBE regulates foreign currency transactions related to gold purchases.
4 Taxation on Gold Purchases
When buying gold, a 5% royalty tax applies to gold mined in Ethiopia, and buyers may also face value-added tax (VAT) or export duties and this depends on the transaction type.
Note. Always verify a seller’s license before purchasing gold to avoid legal risks.
Best Places to Buy Gold in Ethiopia
1 Addis Ababa Gold Market
The largest gold trading centre in Ethiopia is located in the capital city, having various licensed gold dealers and jewelry shops that offer a wide range of gold bars, coins, and jewelry.
2 Ethiopian Commodity Exchange (ECX)
A government-regulated marketplace where gold is traded alongside other commodities. This ensures transparency and legal compliance in gold transactions it’s always good for bulk buyers and investors. Buy gold in Ethiopia
- Gold Mining Regions (Oromia, Benishangul-Gumuz, Tigray)
Direct sourcing from mining companies and cooperatives, where buyers can negotiate better prices when dealing directly with miners it requires knowledge of mining laws and regulations.
4 Licensed Gold Dealers & Brokers
Private licensed gold dealers operate in major cities they offer secure and legal transactions to ensure proper documentation for gold buyers.
NOTE. Always request proper documentation and verify the dealer’s credentials before purchasing.
Step Guide to Buying Gold Safely in Ethiopia
1 Research & Verify the Seller
Always ensure the seller is licensed by the Ethiopian government and has a good reputation and check all the certificates and avoid street sellers to prevent scams.
2 Check Gold Purity & Price
Their different gold purities in Ethiopia, like 24K (pure gold), 22K, and 18K, and use a gold testing kit or request an assay report to confirm authenticity and compare prices with the current market rate to avoid overpaying.
3 Complete Legal Documentation
Always ensure you receive a receipt and certificate of authenticity for the gold when exporting gold, comply with Ethiopia’s gold export regulations, and declare the purchase at customs.
4 Secure Payment & Storage
Always use secure payment methods like bank transfers or escrow services and choose a safe and secure way to store the gold, like the vault or bank deposit, if planning a long-term investment.
Gold Prices & Market Trends in Ethiopia
Ethiopia’s gold market is growing rapidly, driven by increasing local production, government reforms, and strong international demand. Gold remains one of the country’s top exports, with prices fluctuating based on world trends, government policies, and local market conditions. Understanding these factors can help investors and traders make informed decisions when buying or selling gold in Ethiopia.
Gold Prices in Ethiopia
Gold prices in Ethiopia are influenced by several factors, like.
1 Global Gold Prices. Ethiopia’s gold prices follow international trends, mostly movements in the London Bullion Market and New York COMEX.
2 Exchange Rates. The changes in the Ethiopian Birr (ETB) against the US Dollar (USD) impact gold pricing.
3 Government Regulations. The National Bank of Ethiopia (NBE) sets official gold purchase prices and can influence the local market.
4 Local Supply & Demand. Gold prices are affected by mining production, local investor interest, and export demand. Buy gold in Ethiopia
Current Gold Prices in Ethiopia (as of 2025)
| Weight | Price (USD) |
| 1 gram | $47 |
| 5 grams | $235 |
| 10 grams | $470 |
| 50 grams | $2,350 |
| 100 grams | $6700 |
| 1 kilogram | $67,000 |
Notes:
1 Prices change depending on the dealer premium, location (Addis Ababa or mining towns), and purity (typically 24K/99.9%).
2 Gold bars are usually available from licensed jewelers, government-approved refineries, or regional mineral trading centers.
3 It’s recommended to check the daily international spot price for accuracy when negotiating.
Gold Market Trends in Ethiopia
1 Government Reforms & Increased Regulation. The Ethiopian government is tightening controls to curb gold smuggling and illegal trade, where the National Bank of Ethiopia (NBE) has introduced strict policies for gold purchases and exports, and licensed dealers and mining companies now have to follow stricter guidelines to ensure legal trade.
2 Rising Gold Production & Foreign Investment
Ethiopia has many untapped gold reserves, with major mining projects like Oromia, Benishangul-Gumuz, and Tigray, which are attracting foreign investors and multinational mining companies to boost production Large-scale gold mining projects like KEFI Minerals’ Tulu Kapi mine are expected to increase Ethiopia’s gold output. Buy gold in Ethiopia
3 Growing Gold Exports & International Demand
Ethiopia exports gold primarily to Dubai, China, and Europe, where demand for African gold is strong. In 2024, Ethiopia exported over $950 million worth of gold, and exports are expected to grow in 2025. The country is working on formalizing the gold supply chain to increase revenues and reduce smuggling.
4 Gold as a Safe-Haven Investment
With inflation and currency changes, many Ethiopians and investors are turning to gold as a secure store of value, and gold buying in Ethiopia has increased due to economic uncertainty and world market volatility.
Future Outlook: What to Expect for Gold Prices in Ethiopia
1 Gold prices are expected to remain high due to strong world demand and their high quality.
2 Mining reforms and foreign investment will increase Ethiopia’s gold production.
3 Government crackdowns on illegal trade may lead to more stable and transparent pricing.
4 The Ethiopian Birr’s exchange rate will continue to impact local gold prices.
NOTE. Ethiopia’s gold market is becoming more structured, which makes it a more attractive place for investors, traders, and exporters. Whether you’re looking to buy gold for investment or trade, staying updated on market trends and prices is more important.
Taxation on Gold Purchases in Ethiopia: What You Need to Know
Ethiopia has a structured taxation system for gold purchases to ensure compliance with government regulations and generate revenue from the country’s gold trade. Whether you’re a local buyer, investor, or exporter, understanding the tax obligations on gold transactions is key to avoiding legal issues and unexpected costs.
Types of Taxes on Gold Purchases in Ethiopia
1 Royalty Tax
This is applicable for miners or sellers which a 5% rate of the gold’s sale price, and it is paid by licensed gold miners and artisanal miners selling to the government or licensed traders. This tax is collected by the Ministry of Mines before gold enters the market.
2 Value-Added Tax (VAT)
The 15% applies to Gold Buyers is on processed gold like jewelry, it is paid by buyers purchasing gold jewelry from shops or manufacturers, and raw gold (unrefined) is usually exempt from VAT if purchased for investment or export.
3 Income Tax
This rate applies to gold Sellers & Traders and it varies based on the seller’s profit margin and tax bracket, licensed, and is paid by the gold traders, mining companies, and jewelry manufacturers. All traders must file annual income tax returns and pay tax based on their earnings.
4 Withholding Tax
This 2% rate applies to exporters & Traders and is on the value of gold sold to licensed exporters, and it’s always paid by licensed gold exporters purchasing from local traders and ensuring the government collects revenue from gold sales before it leaves the country.
Additional Fees & Regulations
1 Export Duties. While Ethiopia does not have a fixed export duty on gold, exporters must comply with foreign exchange laws, and the National Bank of Ethiopia (NBE) sets gold export pricing regulations.
2 Customs Fees. If you are transporting gold outside Ethiopia and you may need to declare it at customs and pay processing fees.
3 Local Transaction Fees. Some licensed gold traders charge additional service fees for processing large transactions, which can affect the total cost of purchasing gold.
How to Minimize Tax Costs When Buying Gold in Ethiopia
1 Buy from Licensed Dealers. Always buy from registered traders to ensure compliance with taxation laws.
2 Check if VAT Applies. If buying raw gold for investment or export, VAT may be exempt.
3 Verify Export Tax Policies. Always when planning to export, ensure all taxes and fees are paid to avoid customs issues.
4 Keep Proper Documentation. Make sure you keep all the necessary documents, like Receipts, tax invoices, and export permits are necessary for legal transactions.
Note. Gold taxation in Ethiopia varies based on the type of purchase and buyer category. Whether you’re a local investor, trader, or exporter, staying informed about royalty taxes, VAT, income tax, and withholding tax can help you plan your gold transactions effectively. Buy gold in Ethiopia
How to Export Gold from Ethiopia: Regulations & Process
Ethiopia has strict regulations governing gold exports to ensure legal trade and prevent smuggling. The Ministry of Mines (MoM) and the National Bank of Ethiopia (NBE) oversee gold exports, requiring exporters to follow specific procedures and obtain proper licenses. Whether you are a gold trader, investor, or mining company, understanding Ethiopia’s gold export regulations is crucial for a smooth and legal transaction
Regulations for Exporting Gold from Ethiopia
1 Licensing & Permits
To legally export gold from Ethiopia, you must obtain an export license from the Ministry of Mines (MoM), register with the National Bank of Ethiopia (NBE) as a gold exporter, and comply with Ethiopia’s foreign exchange laws governing gold transactions. Buy gold in Ethiopia
Who Can Export Gold?
Only gold-licensed gold mining companies
Only those with a license for gold traders and brokers
Artisanal miners selling through legal channels
2 Approved Gold Sources
Only gold sourced from licensed mining companies, artisanal miners, or official traders can be exported, and the government mandates that artisanal miners sell their gold to the National Bank of Ethiopia before it enters the export market.
3 Taxation & Export Duties
Royalty Tax: 5% on gold sales, which is paid before export, Income Tax, which varies based on business structure and profit margins also an export Fees, which are additional fees that may apply depending on the quantity and value of gold exported.
Step-by-Step Process to Export Gold from Ethiopia
1 Obtain an Export License
Always apply for a gold export license through the Ministry of Mines and submit company registration, business permits, and tax compliance certificates. Buy gold in Ethiopia
2 Verify Gold Purity & Documentation
Make sure that before you export your gold, it must undergo assay testing to verify purity before export and obtain a Certificate of Origin and Assay Report from the Ministry of Mines.
3 Register with the National Bank of Ethiopia (NBE)
All gold exporters must register their gold sales with the National Bank of Ethiopia, and the NBE ensures compliance with foreign currency exchange laws and legal trade practices.
4 Customs Clearance & Export Approval
Always submit export documents like the Gold export license, Assay report, Certificate of origin, Commercial invoice, and tax clearance certificate, and the Ethiopian customs authorities will inspect the gold before granting export approval.
5 Secure International Shipment
Make sure you’re working with a licensed logistics company to transport gold to its destination and declare the shipment at customs, and comply with the destination country’s import regulations. Buy gold in Ethiopia
Key Considerations for Gold Exporters in Ethiopia
1 Work with Licensed Partners. Always ensure you buy from approved sources to avoid legal issues.
2 Stay Updated on Regulations. Understand that Ethiopian gold export policies can change, so stay informed.
3 Use Secure Payment Methods. Make sure all gold transactions are done through banks or escrow services to prevent fraud.
4 Understand Foreign Exchange Laws. The Ethiopian government regulates how exporters receive payments in foreign currency.
Note. Exporting gold from Ethiopia is a profitable opportunity but requires strict compliance with government regulations, taxation policies, and legal procedures. Whether you are a local trader or an international buyer, following the correct export process ensures a smooth and legal transaction.
With its growing mining sector and increasing demand for physical gold, Ethiopia presents a golden opportunity for smart buyers in 2025. By purchasing from licensed dealers, checking for certification, and understanding local regulations, you can confidently invest in high-quality gold bars. Always compare current prices with the global spot rate and work with reputable sources to avoid fraud. Whether you’re buying 1 gram or 1 kilogram, Ethiopia offers value, security, and long-term investment potential in the gold market. Buy gold in Ethiopia
Frequently Asked Questions on Buying Gold in Ethiopia
1 Where can I buy gold in Ethiopia?
You can buy gold in Ethiopia from licensed jewelry shops, central markets in Addis Ababa, and government-authorized mineral trading centers.
2 Is it legal for foreigners to buy gold in Ethiopia?
Yes, but foreigners must follow strict guidelines and may need special permits for large purchases or exports.
3 What is the purity of gold sold in Ethiopia?
Most gold bars and jewelry in Ethiopia are 24K (99.9%) or 22K (91.6%) pure.
4 What are the current gold prices in Ethiopia?
Prices range from $45–$47 per gram depending on purity, seller, and market conditions. Always check the live gold rate before buying.
5 Is gold cheaper in Ethiopia than in other countries?
Yes, due to local sourcing and low refining costs, Ethiopia offers relatively affordable gold, especially in rural or mining areas.
6 How do I verify the authenticity of gold in Ethiopia?
Ask for an assay certificate, check for hallmark stamps, and consider testing with a reputable dealer or refinery.
7 Can I export gold bars from Ethiopia?
Yes, but you’ll need an export license, tax clearance, and documentation from the Ministry of Mines or Ethiopian Customs.
8 What is the best city to buy gold in Ethiopia?
Addis Ababa is the safest and most regulated city for buying gold, with many licensed dealers and jewelry shops.
9 Are there risks of buying fake gold in Ethiopia?
Yes. Always buy from certified dealers and avoid roadside vendors or unverified sellers.
10 Do I have to pay taxes when buying gold in Ethiopia?
Yes, a small value-added tax (VAT) and possible export duties apply depending on the amount purchased.
11 What’s the difference between buying gold bars and jewelry in Ethiopia?
Gold bars are often purer and easier to export, while jewelry may carry additional costs for craftsmanship and design.
12 Can I negotiate gold prices in Ethiopia?
In markets and local shops, slight negotiation is possible. However, prices in licensed outlets are generally fixed.
13 Which organizations regulate gold in Ethiopia?
The Ministry of Mines and Petroleum and the National Bank of Ethiopia oversee gold sales and exports.
14 Can I pay in USD or local currency (ETB)?
Most transactions are in Ethiopian Birr (ETB), but some dealers may accept USD for large purchases, especially for export.
15 How do I ensure a secure gold transaction in Ethiopia?
Use licensed dealers, request all receipts and certificates, and if possible, have the gold tested before finalizing the deal.