- Ethiopia is currently undergoing a national transformation in the areas of politics and economics
- Toyota has also invested $7.6 million in a Kenyan logistics startup in a bid to step up its investment in African businesses
- Burkina Faso is also promoting a national dance festival in a bid to project the country in a good light in the wake of political uncertainty
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There is deep uncertainty in Ethiopia at the moment owing to the country’s political and economic transformation.
The country’s long-running political culture appears to have remained the same even in the wake of sweeping changes instituted by the prime minister, Ahmed Abiy, Mulugeta G. Berhe, reports.
However, Dan Kopf asserts that there is growing evidence of the country’s rapid economic progress is experiencing a slowdown.
Global carmaker, Toyota, is also in the news after betting on a huge opportunity in African mobility startups.
A report by qz.com shows that the company has backed its interest in the industry with a $7.6 million investment in Sendy, a Kenyan logistics startup.
This formed part of a $20 million Series B round led by Atlantic Ventures and comes within six months of a $50 million fund raised by Lori Systems and Kobo 360.
It has also been gathered that a dance festival that has gained national recognition in Burkina Faso has overshadowed the effects of ongoing combat against terrorism in the country.
The dance troupes and performers come from Europe and the United States of America (USA), and provides an important reminder of the importance of culture.
In other news, South Sudan will host its first-ever oil and gas bidding round in March 2020, YEN.com.gh has learned.
This comes after Sudan dissolves the central bank board as well as 11 other state-owned banks, in a bid to dismantle toppled president, Omar al-Bashir’s regime.
Sudan, the most oil-dependent nation in the world, has oil accounting for almost all of its exports and about 60% of its gross domestic product (GDP), according to the World Bank.
South Sudan’s petroleum minister, Daniel Awow Chuang, said the move is a plan to accelerate the economy and an environmental audit into the bidding process has already started.
Per a report by Business Insider, he added that companies that express interest in the process need to prove themselves as there would be a thorough evaluation process.
Chuang went on to say that in August 2019, the country discovered the Adar oil field in Block 3, containing more than 37 million barrels of recoverable oil.
Presently, the ministry is collecting data to make things easier for investors in the oil sector.
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