The oil curse 🛢- Issue #120

Hello Venturer, When the only chicken of a wretched man starts to lay golden eggs, it comes with mix The oil curse 🛢- Issue #120 By [VA Weekly]( • Issue #120 • [View online]( Hello Venturer, When the only chicken of a wretched man starts to lay golden eggs, it comes with mixed feelings. Good and bad. First, he would bask in the euphoria of the endless financial opportunities the golden eggs would bring. But then, the fear of possible harm to his “only chicken” would nearly cripple him. Either feeling is justified. Some people may decide to help put his chicken eggs in the global limelight, while others may see it as an opportunity to rip him off. After all, he is poor and may not fully understand how to negotiate the value of his treasure. That is the typical nature of the “resource curse”, a theory that tells why mineral resource-rich countries can’t use their wealth to boost their economies. This week, as Mozambique launched its first production and export of Liquefied Natural Gas (LNG) to Europe, we questioned whether this billion-dollar opportunity would cause economic emancipation or if it is an “Oil Curse”. Ishioma Emi Staff Writer, Ventures Africa. What's New? Mozambique’s first oil export to Europe, an economic emancipation or oil curse? Mozambique has finally launched its first export of Liquefied Natural Gas (LNG) to Europe. The export feeds oil-thirsty Europe, coming on the back of internal displacement and severe bloodshed by insurgent groups in the South African country. [Read more.]( Top 5 African countries with the most fearless women entrepreneurs. A recent report by TaiwanPlus, a Taiwan-based broadcast service, titled “Women in business” showed several patterns among female entrepreneurs globally. One of them is that, on a global scale, women are less likely than men to be undeterred by fear of failure when starting a new business.[Read more:]( 4 African countries and their investment appeal. Africa ranks among the poorest continents globally, with a per capita below the global average. But the continent is attracting foreign investments as some investors find specific untapped markets palatable. [Read more.]( Ten female tech founders in East Africa worth celebrating. More African women, especially in East Africa, are making a significant impact on the continent- despite the limited access to global opportunities. The continent has the highest percentage of female entrepreneurs globally, a feat attributed to their entrepreneurial resilience and courage in the face of defeat. [Read more.]( My Pivot Journal: Ruth Ikegah’s journey from microbiology to GitHub stardom. Ruth Ikegah’s transition and growth in tech seem quick and spontaneous. It only took her one year after starting her tech career to be the first African woman to become a GitHub Star. She combines being a developer, technical writer, open-source advocate and community manager into her persona. [Read more](. Here are 5 significant takeaways for Africa from the first week of COP27. It has been one week since heads of state and government leaders, negotiators, climate activists, journalists, and civil society groups from more than 170 nations have come together to raise funds, make pledges, and negotiate on how to save the earth from global warming. [Read more.]( Weekly Economic Index: The fall of a crypto giant, more layoffs, and Africa’s new banknotes spree. The crypto industry is witnessing one of the most devastating contractions of wealth in financial history. Following the fall of FTX, cryptocurrencies saw a sharp decline as investors fret about the stability of the crypto space. [Read more.]( TWITTER SPACE What is the future of Africa's creators' economy? The “creator” or “passion” economy is a segment of the gig economy that is unique in terms of content ownership, creative flexibility, and steady demand. A significant number of people in this segment consists of artists, comedians, designers, etc., who use social media platforms to directly reach audiences and monetize that access. The global creator economy is estimated to be worth over $20 billion. Africa has a large youth population, and it contributes significantly to its benefits from the creator economy. (figure/data?) However, intellectual theft and infrastructural issues restrict the creativity of African content creators Set a reminder and join the conversation: [What is the future of Africa’s creators’ economy?]( @VenturesAfrica’s Twitter Space on Wednesday, 30th of November 2022 by 4:00 p.m WAT. VA BIZ HIVE: The Agric Issue The need for a technological footprint has given rise to an agritech ecosystem on the continent. Startups in this space are proferring technological solutions to problems faced in the agricultural sector with ultra-modern technologies like drones, automated irrigation systems, soil sensors, etcetera. [Read more.]( Our Weekly Collectibles - Jamaica is famous for its music sounds like reggae, ska, and dub. Find out how these sounds are influencing music across all scenes in [510- Wickedest Sound](. - Discover the dynamism and brilliance of the African Art Scene in [Inside Art X Lagos, the fair that brought glamour to the Nigerian city last weekend](. - Hotel guests leave behind millions of half-used bars of soap every day. Ever wondered what happens to them? Find out in [The surprising afterlife of used hotel soap](. - If there is anything Dr Dolittle showed us is that talking to animals is a possibility. Find out [how tech is helping us talk to animals.]( #VANUGGET Remember to stay safe! Did you enjoy this issue? [VA Weekly]( By [VA Weekly]( Ventures Africa is an online business news site and community that produces stories about an evolving Africa. Our stories inspire people to positively shape their environment. We cover business, policy, innovation and culture in Africa. [Tweet](    [Share]( In order to unsubscribe, click [here](. If you were forwarded this newsletter and you like it, you can subscribe [here](. Powered by [Revue](