and after days of talks between china and the us no trade deal is in sight but one star investor tells t w the chinese are the only ones who understand donald trump. welcome to business africa on d w m gadol for us earlier this week it became clear that the nigerian economy narrowly missed the expected growth target of two percent for last year the national bureau of statistics put it at one point nine percent and that is unwelcome news for president mahmoud more model who came to power in twenty fifteen on a pledge to turn the economy around in this sunday's elections he's facing a stiff challenge from businessman and form of vice president who back our economic issues are taking center stage in the election nigeria is struggling with a whole range of them. congested roads and heavy foot full scenes like this are widespread across nigeria the country is home to more than one

hundred ninety five million people making it africa's most populous nation the number of inhabitants is expected to double by twenty fifty. this is likely to pose enormous challenges to the country roads power grids and hospitals in many parts of nigeria are knocking or an urgent need of expansion increasingly it's chinese companies that are filling the gaps. between two thousand and five and twenty seventeen china invested more in nigeria than in any other african country with construction projects worth thirty seven billion dollars that's well ahead of algeria ethiopia and on golda which sold just over twenty billion dollars each in chinese construction in. china is investing heavily german companies have been more restrained in twenty sixteen for instance their investment in nigeria came to the comparatively small sum of two hundred and nine million dollars.

south africa's struggling state's power. switch the lights back on again after five days of. businesses across the country but it's at the system remains vulnerable with several generators dog utility. sharing where it switches off different parts of the grid so prevent a full failure eskom supplies ninety percent of the country's electricity blackouts have rippled through the economy with south african rand on course to lose three percent of value for the week. so that's good news for now writes well the problems of the last week just a symptom of larger troubles the state expects to be bankrupt. by a probe meaning africa's most developed economy could suffer further blackouts unless action is taken but that won't be easy let's have

a closer look at the company's problems most importantly eskom is sitting on a rather impressive pile of dead from thirty billion dollars worth of it that makes borrowing difficult which creates a problem for daily operations like maintenance and repairs and that means it's harder to keep the network in working order as comms ability to generate electricity has fallen over the years as the entire grid becomes more fragile so as a government bailout inevitable well south africa's state finances are not in the best shape either the country's debt load has already been climbing in comparison to g.d.p. spoking investors and more debt could cause more trouble for the rating agency moody's has already warned it will further downgrade the country if it bails out eskom so where do things stand president obama pose a has announced a plan to restructure the company and he says the government will indeed provide more financial help here's what he told parliament on thursday it has become clear

that indeed it has come down as needs to be assisted by the state so that it can stabilise is fine this is because doing so also means that we as the lies in the economy of our country. now here's a roundup of some of the other business stories making headlines today. global sales of german comic of folks fargo dropped almost two percent in january compared to last year company blamed weak demand in the u.s. which cancelled out sales growth in other regions. british billionaire richard branson says he's organizing a concert to raise money to help the people of venezuela he said the event could take place next week in colombia branson is hoping the publicists will pressure socialist president nicolas maduro to allow much needed aid into the country. a body representing the mobile telecoms industry has called on european governments

to introduce security tests instead of excluding certain companies from the market is the u.s. urges its allies not to do business with china's war way operators say that a ban on wow it could delay next generation five g. mobile networks. the largest bank in the u.s. j.p. morgan chase is launching its own cryptocurrency the new j.p.n. coin will use block chain technology and will have a fixed value of one u.s. dollar j.p. morgan is the first major bank to launch its own virtual currency it says it wants to cut costs and risks for customers by making transfers instantaneous. the head of the international monetary fund for similar god has called on spain italy portugal and greece to fight their high youth unemployment structural reforms were needed to ensure that incomes of poor e.u. members catch up with their rich and neighbors that she said would address some of

the worries fueling the success of populist particles you know. the u.s. and chinese negotiators have been meeting for a second day of talks in beijing sources describe the atmosphere here there is good but that might not be sufficient to resolve the ongoing traits pass which cost both nations billions of dollars in tariffs meanwhile the two parties agreed to hold another round of talks in washington next week. a picture says more than a thousand words not really reporters in beijing would have liked to hear a word or two on how the latest round of u.s. cheney straight talks from progressing instead all the guard was a neatly arranged family photo featuring u.s. treasury secretary stephen minucci and trade representative robert light hisor along their hosts the chinese delegation led by vice premier league the top economic adviser to president xi. meanwhile in washington reporters couldn't get

anything either. again i talk to the group they're covering all the ground they're hard at it they are going to meet with president xi so that's a very good sign and they're just soldiering on so you know i like that story and i will stay with the phrase the vibe is good but i can't really can't give you details while beijing says it will buy more u.s. made goods to ease the trade deficit between the two economic superpowers there are other sticking points reports say little progress has been made on u.s. demands that china crack down on force technology transfers and reduce subsidies for domestic companies it is unclear if chinese president xi jinping participation on friday was simply meant to flatter the americans or if he came with a sincere offer to move forward it was earlier this week she's u.s. counterpart donald trump has suggested he may extend the deadline for the trade

talks and push back new terrorists for another two months to get a good investment analyst fischer calls trump a master of destruction we asked him whether the chinese understand from strategy. i think more than most yes the chinese certainly get it more than europeans get him he seems so crazy to a european that it makes no sense but what he's always done and he wrote about this . in his book the art of the deal people just don't believe that he tries to do it is he makes extreme statements does extreme things seems like he's a crazy man with extreme demands and then he ends up settling for something in the order of twenty percent of what he demanded and then he walks away declaring victory he did that with the north american free trade agreement he's doing that with tariffs in europe and generally he starts big blows

up creates the concern of chaos but the chinese are more used to that because they've got a despotic world to begin with they've got a top down control economy and they're used to the notion of extremity. returning to the top story the upcoming elections in nigeria and economic problems that we have now established a connection with our correspondent why so interest in. why so what can you say about the growing chinese influence in the economy has it become visible. while it is visibly more visit would than. chinese presence in nigeria this is a county where the chinese from britannia in small businesses in delic ninety's now they have to can all buy a lot of constructions randwick construction is been conducted by the chinese into power projects in different parts of nigeria debt into importation even within the

nigerian economy does through into my kitchen you see chinese retaining in cities like connally was to open a lot of chinese sent us so dad business his is growing and running into billions of dollars in nigeria. return to the elections what are the biggest economic issues in the companion right now. that are to be cast issues issues of security and issue of economy in terms of security because of day fight against boko haram which is yet to end all good the government said he doesn't see granted them but we have seen the presence of the flop and isis which the government came out to see so it is taken and locked up consigned issues in the country and then the issue of economy because of the poll by two nigeria is a country of just about one hundred and one thousand million in twenty fifty

decanting would be four hundred million but property is almost everywhere the economy is the one thousand the country claimed came out of recession. good i'm not reading the same old agriculture has picked nigeria has not been put to rest whole class sometimes you a why so eager is enough for us thank you very much was. and that's a business africa for you today from what i can always go to our website that's t w dot com slash business stay tuned for the news that's off next right after this quick quick check on global markets.

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