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  • IOHK CEO Charles Hoskinson has given an update on the projects in Africa, some of which are in the tendering phase.
  • IOHK is working with Ethiopia’s Agricultural Transformation Agency on a fertilizer voucher project.

In a recent YouTube video, Charles Hoskinson, the CEO of IOHK (the firm behind Cardano), discussed the status of several tenders intended to make inroads into Africa. For some time now, IOHK has been working with Ethiopia’s Agricultural Transformation Agency (ATA) on a fertilizer voucher project. This is a part of an initiative by IOHK to provide African farmers with tools to increase their production. Commenting on the bidding process, Hoskinson said:

The ATA bid, the primary bid; we were underbid by another company. It was crazy because we thought the contract would cost $500,000 to do. But I really wanted it so I bid $100,000, and somebody came in with like a $35,000 bid.

He explained the tendering process is a game of numbers. Having bid on multiple contracts simultaneously, Hoskinson said that he was confident that IOHK would win contracts in time. 

We’re also bidding on a telecommunications contract, and we’re bidding on a transportation contract, and there’s a few other things that we’re tendering just on the Ethiopian side. But we’re also looking at a pan-African view.

Hoskinson spoke about a project with a telecommunications firm, building a mesh network related to 4G in Tanzania. The company has only recently received funding, so the plan is slowly getting underway. The CEO said there would be an official announcement soon.

ADA/USD daily chart

ADA/USD daily chart

ADA/USD fell after getting thwarted at the $0.15-level again. The price has found support at the upward trending line and bounced up a little to $0.14. The MACD shows decreasing bullish momentum, while the Elliott Oscillator has had a red session after five straight green sessions.