ramp up the global cocoa price that. cat out front will have better and much more on w. visit to africa after just a short break i recall fairly and very lend extra to. it's been 15 years since the. sheep was the 1st man to walk on the. hardware. as a small boy she dreamed of the stars. as a monarch she saw anything no matter how to. go to the pole.

as an astronaut she took part in the greatest adventure in history. armstrong was his destiny starts july 20th on t.w. cut. ivory coast are joining forces to repair a dysfunctional market the proposal is loaded against the farmers on a pittance for the luxury food which generates billions in profits. and the international monetary fund agrees a half $1000000000.00 bailout. is business africa. as well come the world's largest cocoa producer just

a fraction of the crops potential value that's what the world bank said yesterday it recommends that countries like ivory coast the world's leading producer or ghana should process that cocoa domestically to fully reap the benefits as well as develop their own distribution networks the 2 countries have already decided to introduce a minimum price for the export of cocoa they failed to come to an agreement though with the chocolate industry on wednesday but negotiations continue. the cocoa business is very profitable but not for the farmers the market for cocoa products is worth around $100000000000.00 u.s. dollars annually but many cocoa growers don't even get 2 u.s. dollars a day. gunna and the ivory coast which accounts for more than 60 percent of the world's cocoa production want to change that they want to raise prices on the global cocoa prices rollercoaster in recent years 3 years ago the price was still at more than $3200.00 us dollars per ton in 2017 the price tumbled to only

$1800.00 u.s. dollars the current price is hovering at $2400.00 prices have increased slightly since the ivory coast and ghana announced they would fix the price for the coming season at $2600.00 u.s. dollars. the move has met some criticism especially from buyers and chocolate makers but one major player the u.s. based candy maker mars has already signaled its support for ivorian and gunney and price plans the american firm says it also one's local living conditions to improve . our correspondent joins us now from across the until now the process has been determined by the market nagaland ivory coast want to run the ship are they right for doing so. yes the because really states of the gun and all the. best and you

don't get much from want to deprive jews and sell and that has impacted the interest from even young people into farming and many of them are living in poverty and so the rights to demand full fair value for what you do produce and so it is right to negotiations to ensure that the. right process i think and i'm sure that's where the right negotiation gets what they want other steps being taken to make the production of cocoa and the whole value of cocoa in the country. more realistic for example by making chocolate the world bank actually suggests. yes for example in ghana and even in ivory some level of production of. just that is

a huge level like we have. and that is what is needed investment. by being crees and governments coming to the house to put in place to increase manufacturing and production of chocolates kamin and that is what we now expect governments to do so yes there are some level of production to be more than what it is currently for many to realize value from what. i say the minimum price that got on are because now want to introduce will that really improve the situation of cocoa farmers and workers as well. it is one of the the fact is that will improve the livelihood yes just having the best prices not all so yes for one it didn't need to get the right price for what they produce and obviously increase revenue but beyond that mention about value the ought to also begin to add value to countries so that. they can and more so getting the right

price is one of the factors to reach that destination. thank you very much. thank you very international monetary fund has approved a bailout worth 449000000 dollars for the republic of congo will help the government of brazil support the ailing economy and the country has been struggling following the shabd drop in crude oil prices in $24.00 to 2014 rather oil is the country's main export the republic of congo's to g.d.p. ratio has also believe as a result of heavy borrowing from china for infrastructure projects in april beijing help with the situation by restructuring some of those debts. the country could serve as an example across africa other nations may also need i.m.f. bailouts to help them deal with their own unsustainable debt levels.

on top of its african a bishop china is pouring millions of dollars in aid and low interest loans into the south pacific anything because they are looking to keep australia new zealand in check and the tiny kingdom of tonga there are signs that a battle for power and influence among the much larger nations is heating up. life moves at a slower pace without traffic lights or fast food chains snuffling pigs rome dusty roads but in a country with few jobs tongues worry that chinese immigrants are taking over the small business sector. first of all our pool of supply mostly chinese. retail shops they have 99 percent changes. so they basically control what be. many fear that the chinese could be expanding their business interests into farming and construction made

a beijing late investment drive in the region china already gave several gifts and loans to tong got the country of 106000 people i was about $108000000.00 u.s. dollars to china's export import bank equivalent to about one 4th of its g.d.p. but the chinese say it's increasing footprint in the south pacific is nothing to worry about nevertheless after western allies overlook the south pacific is a somewhat sleepy neighbor to a stray or new zealand and the united states they are now responding in an effort to check growing chinese influence after cycling destroyed tonga's historic parliament house last year the government 1st suggested china might pay to rebuild it then new zealand stepped in and now considering jointly funding the project. abas is on course to overtake boeing the european plane maker has already

made more deliveries the 1st half of this year thanks to keen interest from china actually carrier and china has just ordered its 20 new a 358 from the european plane maker a deal worth some 6000000000 euros it's the latest sign that boss is expanding its foothold in the chinese market where local carriers are. more interest in european made planes and some part of the trade tensions with the u.s. . meanwhile competitor boeing has announced the head of its troubled 737 max program plans to retire erik. in charge of the project since august last year it's the most high profile departure since 2 of the aircraft crashed almost 3 m. 50 people died in those accidents. mostly high after the dar hit a record high on thursday it climbed above 27000 and much to the delight of u.s.

president donald trump new york markets have been racing higher on investor optimism that an interest rate cuts interest rates cuts is on the way. auction house so the beast is holding its 1st sale dedicated to sneakers status collectibles is growing some could fetch over $100000.00 shoes going under the hammer in new york including parents bought by the 2nd film of the back to the future franchise. german comic a shock markets on friday when it slashed its profit outlook for the 2nd time in 3 weeks it says pretax profits this year will be significantly below last year's level forecasts follows a major 2nd quarter loss the company said it expects sales returns on its flagship mercedes-benz unit of 3 to 5 percent half its previous estimate there is also setting aside a further $1600000000.00 euros to tackle the fallout from its diesel emissions

problem a recall caused by a bad it's made by japan's now defunct jakarta. folks and for expanding their alliance 2 of the world's biggest car makers now say they want to cooperate closely on the development of self driving and electric cars. there's long been speculation folks foghat and ford would team up on self driving electric cars with markets like certainty confirmation from v.w. c.e.o. herbert d's and for chief jim hackett out a new york news conference boosted shares in both automakers volkswagen will put $2600000000.00 into ford self driving units argo ai which is valued at $7000000000.00 we're now confirming that we will extend our collaboration into autonomy technology. we share the view that technology is an enabler and it's not immune to itself that was one of the 1st things that herbert and i align on

a people will remain our constant focus in this ever changing world. t w one ford and to put autonomous vehicles on the roads in the u.s. and in europe the deal makes v.w. an equal stakeholder in ford self driving cars business and ford will get access to be w.'s electric vehicle technology. they remain competitors in the marketplace but teaming up on our go ai gives them technological know how and scale as well as geographic reach and investment in our goal ai will provide us this one of a kind of driving system technology it will enable folks walking and forth to sign and manufacture s.t.s. vehicles based on this technology and from our perspective this is a real situation. to tie up as part of a broader partnership between v.w.

the world's 2nd biggest carmaker by sales and 6th place ford. and that's it for me the business africa team here for more business news analysis and background stories of course check out. business now should stay tuned for news africa africa is next friday after this quick look up global markets.

might not look on that appetizing. but they're very popular with more major. cucumbers. period's sea creatures are found inside madagascar. according to strict ecological origination. safeguarding natural. 16.

which of fish. surely screw africa and the world the link to exceptional stories and discussions phone use and easy and wow wimps and deputed comes to join us on facebook. for god. this is the w.'s africa coming up on the program so that the military council says it's for old i'm not tempted to cool rebel soldiers have been rounded up officials and how to see the power sharing deal with pro-democracy groups will be signed this weekend also coming up. designed to meet the specific needs of african countries that metric is being tested in god they game protect the enviro.