- Ethiopia is currently undergoing a national transformation in politics and economics
- Toyota has invested $7.6 million (R110 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
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.
However, Dan Kopf asserts that there is growing evidence that the country’s rapid economic progress is experiencing a slowdown.
Japanese 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 (R110 million) investment in Sendy, a Kenyan logistics startup.
This formed part of a $20 million (R295 million) Series B round led by Atlantic Ventures and comes within six months of $50 million (R740 million) raised by Lori Systems and Kobo 360.
In other news, South Sudan will host its first-ever oil and gas bidding round in March 2020.
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.
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