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tv   Business - News  Deutsche Welle  February 5, 2019 5:45pm-6:01pm CET

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and canadian crypto currency exchange quadriga c x is taking time pretty projection after its president to passwords for accounts with millions to this crave. hello and welcome to do business africa starting with nigeria's upcoming election it is a race between two aging rivals neither of whom looks likely to steal the country and its useful population to a better future now in its latest doing business reports the world bank ranks nigeria one hundred and seventy three out of one hundred and eighty nine nations and that is also having an impact on investment activity which has faltered in the past three years. nigeria is an attractive market for foreign investors the anglophone country has a population of more than one hundred ninety million and the largest share of internet users in africa in twenty sixteen more than one hundred million dollars in
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venture capital flowed into africa's biggest economy much of it to young i.t. entrepreneurs but there are stumbling blocks many investors are scared off by the security situation massive red tape and the ever present corruption by those who look at where because we used to call it wonderful war on drugs budget complains to them where corruption of the big issue is is a huge one doubts. the police even when you do want to give them money like the bus drivers to do it as the business is a rife president mohamed to hari was elected in twenty fifteen on vows to combat graft a number of politicians and officials have been arrested by the country's anti graft agency but business experts still think corruption is one of the biggest hindrances to investment in nigeria and then there are the problems with infrastructure and power supplies only half of nigerian households are on the electricity grid. and
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blackouts are a daily occurrence many of the existing major infrastructure projects are being financed by the chinese government others have been put on ice as the heavily indebted nigerian government has no money for them. and that despite the country's rich oil and gas reserves but nigeria has few oil refineries so it exports its crude oil cheaply and imports expensive gasoline a huge refinery is in the works but the economy continues to stagnate. nigerian g.d.p. growth dropped dramatically in twenty fourteen entering negative territory in twenty six team since then it's risen slowly again but unemployment is still rampant with a third of young adults without jobs to come about that more investment is needed both from the state and foreign investors but it's unclear whether either blue hari or his main rival at car will succeed in changing the situation in fact the
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challenger a businessman and former vice president of the country is implicated in an international bribery scandal. for more i'm joined by jeremy gaines coordinator of the nigerian german energy partnership and he joins us now in frankfurt good to have you with us i know that you know nigeria very well it's a country rich in oil has lots of potential yet the economy is struggling there's a lot of government debt how can the upcoming election help to make things better. good evening monica i think the important thing will be what happens in the first time today is what we've seen over the last four years as unfortunately sadly you know change for the worse only within the last two years unemployment has gone from eighteen percent to twenty three percent. if you poll nigerians who are going to
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vote corruption is actually only third on their list of what counts what counts as employment and what counts after that is poverty the incoming government has got to get the final financial fiscal and monetary policy tweaked in such a way that it is coherent and that it is pro-business so the decimeter can start creating jobs and the real place where they will create jobs will be in the agro industry but the moment nigeria doesn't feed itself and yet it has marvelous soil that is waiting to be exploited to that end it doesn't need major large roads it needs rural roads that gets products from the small farms to cooperatives to market and of course all this infrastructure costs money which is why foreign investment would be very very important but it's faulted in recent years what are investors exactly looking for what does nigeria have to do to attract more investment. i think they have to show that they do have a case here and marco economic policy and of that policy rests on
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a clear regulator a regime and on the rule of law and of late there have been some difficulties with the rule of law the chief justice of nigeria was suspended by the president some say unconstitutionally that puts a damper on things and foreign direct investment has indeed dropped by twenty percent it's been discouraged by unclear regimes as regards customs it's troubled by the fact that access to foreign exchange is not good that access is required if you wish to repack treat your profits it's also being hampered by a perception of security that is indeed true the incoming government must first and foremost solve the security problems in the country since president bush declared boko haram defeated twenty two thousand people have been killed two asian has to change jeremy i understand obviously whoever wins the next election has
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a lot of work on his plate to jam against the coordinator of the nigerian german energy partnership thank you so much. the president of ghana has called for a revolution in the mining sector to quote make it africa prosperous president to monaco for other was speaking to the indaba conference in cape town in south africa he said mining firms and governments need to increase their collaboration he told delegates africa that made the rest of the world rich with its minerals and it's now time for africans to feel the benefits. almost two hundred million people live in nigeria and the population is growing out of the issue of desertification and soil erosion which has led to the loss of arable land and you face a problem how can enough food to be grown for everyone while hydroponic farming could offer a sustainable solution to these basil parsley and lettuce plants are special they're being grown without using normal soil this innovative system is called
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hydroponics to feed the plants the gardeners use an organic sterile medium made from the bark of the coconut tree to conduct their transfer yours or not. and your chance with chemical additives basically to toss him in their natural state and a special vegetable formula that has all the micro nutrients and that the plants need the gartner colorway group began growing herb's and vegetables in lagos two years ago. fresh produce is often difficult to find in the nigerian megacity undergone it products are even harder to get hold of. got the cutaways starts with the need to. want to empower the farmers and also with the consumer in mind in terms of providing fresh quality produce talker's heroes which is real farm to table which is part of the whole agricultural revolution that's going on in the
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world by growing locally they could even under called the prices of non-organic projects available in the city but still make a profit conventionally grown vegetables sold at the market cost around thirty percent more than the organic ones here i buy can you speed knees you need to use most of the my imported soup get very expensive but the seas look at the groom. so the price and yes it's very reasonable when you think about what you're getting nothing can be fresh food you know straight from from farm to mouth that whole concept nothing if it's not too expensive i lease for me i'd rather give up on something else to have this. it's also environmentally friendly as the company only delivers within the city it keeps its carbon footprint low the firm is
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also helping other farmers to follow its example. we. branch of the called and discussed and it's a part of the continent that literally you know butte county people are pretty fond of them i don't trust fights so far that helps three farmers to launch their own businesses carkner callaway are also planning to expand and are currently setting up two new city farms in lagos. canada's largest crypto currency exchange quadriga is on able to access millions of dollars worth of digital coin reserves following the sudden death of its founder gerald cotton now the exchange cannot locate around one hundred thirty seven million dollars worth of crypto currency the computer he used to manage the exchange is encrypted leaving quadriga with no other option than to file for creditor protection. how does europe strongest economy stays strong in
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the face of billions of chinese investment and the us dominant position in digital tech while germany's economy minister peter says his government has found an answer . arm of german companies like siemens and thyssen krupp against hostile takeovers that's the goal of the german government's new investment strategy which elevates industrial success to the national interest after recent years or china by one company after another germany's economic affairs minister says berlin can't afford to sell its high tech peyton's to foreign powers. the flow but there's fear and i think that when certain countries and specific companies use very aggressive tactics to expand their market share then we have the right responsibility to respond. of this ridged and if we start to argue that the economy minister sees a greater role for the state and greater relief for businesses in areas like energy
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costs or taxes merges should be made easier but critics warn of too much government involvement with coming up with plans got equivalent to guaranteeing the existence of individual businesses because there are some outstanding firms that rake in profits but there are others that are frankly pretty wobbly they're going through barclays and. mile or so says german companies need to lead the pack when it comes to innovation in new technologies like artificial intelligence or driving systems for cars of the future burden is planning to help kick start that development with billions in new investments which should also help pretty. german chops that's off a business thanks for watching.
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mum.
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for dreamgirls international talk show it's me that your mom two is a german politics and your of resolve bitter divisions over migration of the government it is said stead into the abyss could friendly fire for president trying to defeat one of the strongest military alliance in the street my guests have to say on point three good. morning go on d w. language courses. video audio. anytime anywhere. w. n n gemini live. at any time any place easy names video
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yeah i love the look of the crowd. to sing along to you as the combo from super. for. interactive exercises. everything is online. interactive german for free with d w. frank food. international gateway to the best connections also road and rail. located in the heart of europe you are connected to the whole world. experience outstanding shopping and dining offers and try our services. biala gassed at frankfurt airport city managed by from a bought. this
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is you know when he was born for girl in anger at inequality spills onto. french street's major trade unions join yellow vest activists in widespread industrial action in the latest challenge to him and he went back to his government very demanding social justice and higher wages also coming up he was president donald trump is such a deliver his second to the stinks of the union address this evening as controversial plans for a bortle wal-mart specter expected to feature prominently in his highly.

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