coming up in business africa in just a moment we'll take a look at senegal opposition candidates pledge to replace the country's currency if he's elected the sunday what kind of difference would it make. and more coming up with gas first on my ass waiter thank you for joining us. taking a few risks you could even take a chance on. don't expect happy ending. we take it personally with the wonderful people and stories that are so special are you waiting.

for. a call from my. country to. g.w. . on sunday senegal will go to the polls and elect a new president the opposition candidate wants to ditch the old colonial currency but is that really a good idea. and it used to be a boom town for property developers now mumbai house prices are falling as an alarming rate. this is business africa on the w. welcome. but first zimbabwe's central bank has released

a new devalued cause i currency into circulation that replaces the zimbabwe and banknotes which were pegged to the u.s. dollar people lined up in the capital harare to be the first to get their hands on the replacement currency this is the latest effort by zimbabwe's government to bring back some stability to its ailing economy economists say the move could make prices more predictable in the country analysts see it as a step towards a launching a new currency when dollar was abolished in two thousand and nine amid soaring inflation. this sunday senegal will elect a new president and that could also be a first step towards a new currency opposition candidate whose month song course says he'll abolish the safe for a safer from if he's elected the abbreviation. c.f.a. stance vocal in the fall says duffy currency therefore he says is a relic of colonial times which keeps senegal dependent on its form occupier france

its view many young voters do support senegal is one of fourteen former french colonies that have been using the c.f.a. far frank since france pulled out of central africa in the one nine hundred sixty s. the say five currency zone comprises six central african nations from a quarter of two central at the central african republic and eight west african countries these include booking a fossil and senegal in all fourteen states the current currency policy is effectively laid down in france and the safe from which was paid to the french franc now has a fixed exchange rate to the euro all members of the from have to deposit half of their currency reserves in france the central bank some say being picked to the euro create stability in member states others believe it keeps them dependent on the old colonial occupies it's a controversial topic and not just in senegal mali pulled out of the save our fall

in one hundred sixty two but it changed its mind and rejoined the currency in one nine hundred eighty four d w spoke to molly's president ibrahim a book about and asked him how he views the front today. not to undergo. any measure of hands evolution i think this is the end of a front gives us more possibilities on the international stage it removes the temptation to print more money and protects us from soaring inflation that could result in a meeting a sack full of money just to buy a loaf of bread. the c.f.a. frank protects us from that. the choice between stability and instability is clear stability that leap. let's bring in wendy busey from. africa. is this changing of the currency a matter of national pride or economic wisdom i think we just heard what the president of man you say and this is what many heads of states in the zone

foresee if i truly believe that if i see if i. bring economy in the countries that we need to know that in these debates about defense if we need to make a difference between those who agree with difference a fact and those who are against saying that this is a tool used by a western country to settle and economic dependence but in the media what we has we've also have people saying that each country who use fancy five today need to have their own korea and like in tanzania kenya. in a way to show their independence at the economic level they brought stability to the region low inflation is always quoted by its supporters isn't that a good reason to keep it i don't know if we can say that this is a good reason because some economists people say that inflation can also be good in some times but what we need to know exactly is the fact that difference

a fact and all the debate about defense if i bring one to a peak under question under table this is a question and the very antsy and economics of varying c. so i think the debates must be open and continue without patients actually disease but i think when the who profits most from the briefly please. this is a good question and i don't know exactly how to answer because if you ask people in africa they will tell you that western country had the first one to benefit fifty's but recently debate c.e.o. who is one of the biggest bank in western africa say that they can reassure people that to date the country to use difference if i read the independent economy can be so this is a debate who is open and who we'd continue probably in the future. wendy thank you very much thank you. president macky sall

hopes to win another time and the seventh in the seven years he's been in office he's tried to appear as a man of action not just pushing several big infrastructure projects a new airport new regional train services and even a brand new city among them not all senegalese profit from those success stories. for most of the one million people living in central dhaka he sells grand projects haven't brought much in the markets hygienic conditions are terrible and there are improvised vegetable stands everywhere. but it's not good when you're the president has to bring costs down and bring lots of money into senegal everything is too expensive especially food. and goods i want a president who brings prices down. if the president can keep things going the better it is for all of us just stability stability is all i want.

five years ago oil was discovered in senegal that's attracted international investors. as an economist he doesn't believe that investment is translating into real benefits for ordinary people. on average senegal has six percent economic growth but that can't be felt in the economy because the local businesses have such a tiny tiny part in these projects. alongside the traditional yellow taxis more and more large four wheel drives are appearing in the traffic the car is booming but seventy percent of senegal's economic output is generated by foreign companies in the construction sector for example the biggest investors are turkish companies. we should build factories here create products locally instead of importing everything when you import you pay taxes which enrich other countries creating businesses here which will create product. locally for sale here that's

more efficient. because there was a really what we need for the president it's stability and first and foremost we need stability jobs for the young and infrastructure to be around fifteen percent of senegalese between the ages of fifteen and thirty five are unemployed and mostly earn a living through the informal sector most of the people here in the market see remedying this as an urgent priority. to india now by has been enjoying a property boom for years if you invested in real estate they used to do pretty well but that's a thing of the past thousands of apartments that unsold in the indian financial power buyers are biding their time in the hope of further price drops back in twenty seventeen real estate prices fell by five percent in last year it was almost seven percent it may take nearly two years to sell off just the unsold properties

that are consultants ninth night frank predict will the next real estate prices be made in india here's a report from mumbai. the prophecy consultant. has been in the business for a long time he was always said that you couldn't go wrong with real estate in mumbai but now apartments are getting harder to sell for a good price at least. yet it still may center in the l.s.d. and also said in this town hall people may be feeling i myself have visited in a few properties which i expected would give me some wriggle that i would be able to walk away from the market but they will say that i. did the changes bit in a couple of cases maybe slated or that what i had bought and what i had in this hit . the skyline of mumbai one skyscraper after another has been erected in recent years money was plentiful but the boom is over according to of in one done from the analysis company knight frank the real estate industry has gone through

a lot of tough times of late and we've seen that in the numbers as well as in the general feel of the marketplace surprise falls off big time across the board you know all the major cities of india have witnessed a kind of price fall on an average you know ten to fifteen percent price falls a big influence there are many reasons prices have taken a hit over the past year for example channeling cash into the construction sector has become more difficult because of changes in the law planning errors are also a factor too many luxury in too few affordable apartments were built and then there was the partial insolvency of the major financier ireland fs the chain reaction among india's shadow banking sector was only prevented by government intervention. sharkey's deep the consequences of felt by all those who were planning new projects in the past the real estate developer protests and garvey was able to sell his products in the shell phase he then used the money to finance the completion now

it's more difficult to get capital business is getting harder. if you look at it because of constructing an apartment complex it's very very very near to be sealed grange ward. so there's not much of modern humans left in the business. ironically new buildings are actually agent be needed in mumbai because prices continue to fold by as prefer to wait and see it's a vicious cycle and even the best bargain offer won't help. before i let you go in belgium designers have teamed up with chocolate chocolate is to create a really really tasty outfit for this year's. fair in that one delicious creation was made out of eight kilograms of belgian chocolates total

designers presented thirteen chocolate dresses the end was to strengthen its belgium's reputation as the leading an innovative chocolate maker and as a fashion. my chocolates in a box of my suits on a higher and that's it for me and the business africa seem much more business news and background stories you can find on our website that's dot com slash business. follow us on facebook and twitter if you don't already do so now please stay tuned for more world news here on t w that's up next just off his quick check on global markets.

helen from. south africa is magnificent i don't want to. pay for a new memory morrison of some created. its name crossed names and then i can copy lation as i found that some communities did entry and i think it was a tourism area. in sixty minutes on d. w.

. her first day of school in the jungle. her first cleaning lesson and then doris grand moment arrives join during a tango on her journey to freedom in our interactive documentary tour of numbering in time returns home. mom. this is the w. news africa coming up in the next fifteen minutes what's up on politics us nigerians get ready to cost of gold and stop the day's presidential elections to find out how the spread of fake news on what's up what affects the results also coming up tensions are hot a senate go ahead to the polls on sunday comfy steam and take up the votes are counted.