Ethiopian Prime Minister Abiy Ahmed (PhD) said that approximately 400 kilograms of gold stored at the Jubilee Palace in the capital Addis Ababa have been transferred to the vaults of the National Bank of Ethiopia following renovations.
At current market prices of 2,788 dollars per ounce, the total value of the 400kg gold transfer would be approximately 36 million dollars.
Speaking during a session of parliament on Thursday, PM Abiy disclosed that the gold had been held at the palace located on Menelik Avenue in the heart of the city. However, with renovations to the palace recently completed by local construction firm Varnero, the gold was moved to the NBE.
The Jubilee Palace is an official residence of President of Ethiopia.
