Kefi: further license extension8 Mar 2023 17:13
I’ve never posted before, but I’ve a lot invested in Kefi.
My concern is that yet another license extension has come and gone, without the necessary funds being deposited in accordance with government requirements, see attached from Ethiopian Monitor is 23/02/23:
“It comes months after authorities issued a warning of possible license revocation over Kefi’s delay to present $80 million equity capital for the project. They also granted a final extension to Kefi, requiring the fund to be deposited in a bank recognized and validated by the NBE.”
Could anyone with a handle on this (ie someone familiar with such contractual negotiations), put their perspective on this?