tv Business - News Deutsche Welle February 13, 2019 5:45pm-6:01pm CET
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mismanagement isn't limited to south africa as several other african countries find themselves on a new e.u. black list of the world's most corrupt countries. this is business africa. thousands of south africans have been taking part in strikes and demonstrations to protest the country's high unemployment and what they consider government inaction to fight it the congress of south african trade unions called its members of the strike which increases the pressure on government the government of cyril ramaphosa as the country gears up for general elections in may south africa has a near record twenty seven percent of unemployment was the month with the mining sector in particular shedding jobs in recent years. is in cape town and joins us now ellis are these strikes just about high unemployment or against the government in particular general. well for
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a long time to have been kind of a general unhappiness with the government the name of the government party and see that they haven't done enough to dress unemployment issues that end inequality i think the main critique was mainly when jacob zuma with the president a year ago he was forced to step down his regime was corrupt and with a lot of mismanagement there was more hope that through our post of a current president would return to ties but we've still seen job losses namely in a mining sector and are still more job growth in the coming so the protos now is coming because next week there's a budget speech here in parliament and sort of costs are to any of these protesters are trying to pressure the minutes are flying and to create more budget to create jobs for africa. thank you we'll come back to you in just a moment to talk about south africa's national energy company as calm because on monday it imposed pottage is to stave off
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a national black college in africa's most industrialized economy that affects businesses as well as ordinary citizens as comes applies more than ninety percent of the country's power and is laden with more than thirty billion u.s. dollars worth of debt and crumbling infrastructure that the situation at eskom now threatens to derail the government the government plans to lift the sluggish economy. is the factory manager at bottle princes one hundred thirty person strong industrial plastics and glass printing company in johannesburg. already navigating a recession in africa's most industrialized economy he must now contend with the load shedding mass blackouts that have returned to south africa after an absence of several years. the second time it's a protest this week because a major problem a production line basically outcome becomes a granny all for four hours. state power company s come blames the current
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situation on a backlog of maintenance and. pe work. they claim they must shut down parts of the grid or the country will face a complete power outage. i just which are not generate that there's no not going to happen running but the problem is that there's going to any runoff and are making. their capital outlay to have this to run out thank you just like you can only call but it's not the only infrastructure challenge the country is facing members of the south african national defense force were called up to restore a crumbling sewage works in the vaal suffolk johannesburg. soldiers are working around the clock to get the fifty year old sewage system disposing of if you intend recycling drinking water for several million south africans up and running after a decade of neglect and vandalism. this units are dysfunctional because it's a local. operation and maintenance if they were maintained from the first time they
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installed them they wouldn't be in a situation they are now it's a poor governance basically you know it all leads up to what governments if their leadership must see to it the people desk up automate doing that supposed to do i think wouldn't be in this situation where. you know that they say if you started out that they had. many are blaming south africa's woes on the scandal plagued tenure of former president jacob zuma who can think we must appreciate that binny of the problems i inherited from the structural problems of the party but these have been compounded by ten years of the breakdown of accountability and oversight done to jacobs of us government but there's been stabilisation over the last eight months and there's a turn of business confidence some degree of optimism but south africans can't wait for ever for things to improve these challenges are adding pressure to an already dying economic situation analysts estimate at least two percent is shaved off the country's annual growth rate every year due to its failing infrastructure with
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elections and only twenty nineteen new president. needs to turn things around fast. well will he be able to do that let's go back to cape town and ellis from give a list south africa just introduces most to vieques was to russia in nearly five years energy supplies come might the government bailout what effect will that have on the protests and in the upcoming elections well actually it is an issue that was addressed by the protesters today as well they're afraid of businesses will go down and that more jobs will be lost because of this crisis and also of course if you look at international investment who is going to invest their money in a country even if there is no no power part of the day i think for example today steve case there was no power from two o'clock in the afternoon two to four thirty very important hours for businesses to run so it's a big crisis and basically eskom is going to be technical insolvent by april if
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there's no bailout by the government so fiddled of course that is saying he's going to turn things around he says he wants to split eskom the states the utility company in three different entities. but if that's going to do to help and if that's going to to cut it who is that going to make sure that we don't have outage anymore and its current going to prices and so big that the profits might continue and that's definitely not good for him going into the elections in in may and that means that that people might say well the boat hunting sea as well for not not maintaining and mismanaging all the infrastructure in south africa well if the strikes don't help what's your personal impression will these protests and these strikes spring other going to intensify. well we're going to there's already a minor another protest planned next week when the budget speech will be held in parliament. i do see a lot of a lot of this content and south africa is and is
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a nation and a lot of striking i mean that their protest and small protest in the town should almost be and that's making them from people who don't have water or electricity on a daily basis so there is definitely understanding in south africa and again as i said i do think that the she might be punished these elections. responded in cape town thank you very much. and out of some of the other business stories making headlines around the world the u.s. has warned european allies against using equipment made by chinese telecoms provider huawei secretary of state mike on pale said on wednesday it would make it harder to work together in germany and poland among countries considering banning products from wal-mart which has close ties to the chinese military. more trouble for german payment services provider y. a card investors in the u.s.
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have filed a class action lawsuit saying the company violated federal securities laws than those with alleges that why a car has misled investors investors by not disclosing that an executive in singapore was under investigation for money laundering. china's rail operators says more people have taken the train than ever before during this year's spring festival travel rush more than two hundred million passengers put the country's rail network to the test many migrant workers have travelled home for the festival which began three weeks ago. american whiskey makers are feeling the tremors after a major overseas markets imposed hefty duty is on their products in retaliation for u.s. president all trumps tariffs alan minium imports ones leaves from canada mexico china and the e.u. took effect the collective u.s. whiskey exports fell by eighty percent. your dirty money is
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not good here that's the message the european commission says it wants to send in releasing a blacklist made up of twenty three countries it considers havens for money laundering and terrorist financing several african countries feature highly on that list. nigeria is just one of the countries included on the proposed blacklist of nations the e.u. commission thinks isn't doing enough against money laundering and terror financing others named and shamed include botswana and libya the e.u. is just as commissioner of irregular says the move is meant to warn the banking and financial sector to be careful in its dealings with the affected jurisdictions the you must not be a destination for illicit money the e.u. financial system must also be called for money laundering and must not serve as an instrument for financing crime including terrorism and the blacklist
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has a ready caused controversy the united states treasury for one was swift to object to the inclusion of four u.s. territories some e.u. countries worry that the inclusion of saudi arabia will harm their business ties with the country. the european parliament has ratified a free trade deal between the e.u. and singapore and the hopes it will serve as a blueprint for future deals with african states the riemann aims to remove virtually all trade barriers between the two economies over the next five years trade amounts to ninety billion euros in goods and services last year member states must still approve that measure. the party's seen here in berlin is legendary not that i would know of my age but it's a big draw for tourists and they cannot make boost for the city study shows that three million tourists came to berlin for their venues alone and twenty eighteen spending about one point five billion euros during their stays at hotels
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restaurants the clubs themselves a report commissioned by the commission is said to be the first of its kind in the city in response to growing pressure on the scene including rising rents and curbs on noise and opening hours. and that's business africa for you for more you can always go to the website of. dot com slash business and follow us on facebook and on twitter if you don't already do so.
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this is the newsletter from the. crimes of the increase in germany new statistics show hate crimes against jews at the highest level for decades. in the country's jewish community also on the program spain's government in crisis but prime minister is expected to call the snap election after parliament votes down his budget. and spoil the child his big draw features three matches putting clubs from english premier league again something i was keen to jump on this nigga so.
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