swastikas. and the children they think nothing of it is used to bore you the owner is talking to the rides manufacturer about a redesign until then the eagles are grounded. up next a day w. out of business africa are more well the headlines of the type of thing i would have done. much of it. sure linked to news from africa to the world or link to exception new stories in discussions from the news of easy to i want with safety debbie to come smash up to come join us on facebook t.w. for. you know that 77 percent off because you are younger than 60. that's me and me and you. and you know what it's time all

voices want part. of the 77 percent speech obama beat you should stop. this is where it comes from. the 77 percent this weekend on d w. how much scope is there for e-commerce in africa one of the continent's most prominent players. managed to expand its customer base that revenue remains below expectations also coming up it would be the world's largest economic block was $3.00 trillion dollars a conference in ghana wants to breathe life into the african continental free trade agreement. welcome to do business africa. good to have you with us. and one

of africa's most talked about e-commerce companies presented a mixed bag off quarterly results today dimia technologies which is listed on the new york stock exchange reported a net loss of some 67000000 euros in the 2nd quarter while the number of active users was up 1600000000 from a year ago. tumbled to 12 percent following the earnings announcement. it has often been called he african i'm a zone the online retailer jew media sells a broad variety of goods founded in 2012 and listed on wall street in 2019 the company boasts 4 and a half 1000000 customers in fast growing markets such as the nigerian capital lagos until now traditional brick and mortar retailers have held sway across the african continent just one percent of goods are sold online. with the ins today we are present in 14 countries in africa these 14 countries and companies almost 700000000

people and we have more than 6000 employees working at your me more than 80000 sales people who are sold on germany last year and several 1000000 customers who used to mia to help them access these products and services was. founded by 2 french entrepreneurs and with headquarters in both germany and dubai the online retailer faces growing competition from domestic rivals in its african markets there are more than 260 e-commerce startups fighting for customers in 23 different african countries anju media has higher production costs compared to its rivals these additional costs are weighing on the company. the distribution market in africa is very particular in physical distribution it's one of the most difficult in the world but if you ask any seller what his biggest challenge is most of the time it is distribution because there are very few stores in africa and the infrastructure means it is very difficult to distribute the products here.

accusations that jr has exaggerated its customer numbers continue to dog the company though there have also been claims that its number of canceled orders and returned items is higher than average some financial experts believe that is anything but a safe investment right now. well for more on that story i'm joined by most as apple from africa good to have you with us moses. all right what do you invest in jumeirah right now well i would say yes on setting conditions i think that. the way jr has been able to penetrate into the african markets yes i would like to invest in it but again it's also comes down to what exactly makes such a company become investable and i think that fortunately the hype that i actually took from the initial entry which was of a $14.00 to a $45.00 bill this actually was normally gave. a quick win

but if you look at what julia could have done which is basically looking at the customer base they have enough why didn't they also connect with these people to also invest in such a company that could have actually retain such growth because one of the things we see is that yes they had an i.p.o. a new york what about the local stockist in markets that you know that that raises a question it comes up again and again is junior an african company that is a chile one of the biggest questions that people ask because yes it's a german company that is operating in africa but at the same time we have to say that yes the big market is africa us. so in a way we can not see fully that it's an african kompany but at the same time we can say that it's african focused company and i think we need to also kind of change the lenses on how we look at dounia because it's just like any other company that is trading enough because it is a companies that only recently lost it's

a unicorn status that means its value drop below the $1000000000.00 mark has significant is that it is very significant and again it comes down to what i meant by the trust because for investors to invest in it they need to trust that it is actually going to grow which is also access to being able to be part of that market if you look at other companies like awful people still have access to actually buy into the stock exchange and what we see is that junior even to focus on an african market the access to actually even get more investors which are local investors to come want to do is what i call i.p.o. was very difficult so i think that the strategy should be that they should actually build more trust and also build access and while they build out indefinitely they also need to look at profitability i think that this news of we are more users but i we are not too profitable makes people have a mixed feeling so they need to fix this strategy i mean it's good idea build and user base but i need to actually have more profits coming in the next quarter very

sound advice they're getting from us is as well from after a link thank you so much for your time thank you so much money. and now turning to some of the other business stories making headlines. chinese internet commerce platform alibaba has delayed its listing on the hong kong stock markets amidst the ongoing protests there the company's already listed on wall street simple steps to raise up to $20000000000.00 in hong kong it's now unclear when the listing will take place. san francisco international is the 1st airports to ban plastic water bottles while soft drinks are still available in the plastic containers the water is now also old in cardboard packaging and reuse of will allen minion bottles that can be refilled at bloodlust in all terminals the ban is san francisco's latest effort to reduce plastic waste. african leaders recently launched to the african continent

a free trade agreement the deal is aimed at creating the world's biggest free trade area many hope the trade zone off more than 1000000000 people will spur economic growth on the continent but progress has been slow now the plant's architects hope the agreement will go into force within a year. don is capital accra is hosting a national conference on how to go about implementing africa's biggest free trade area the agreement that preceded it is aimed at fostering times between the continent's 1300000000 people by creating an economic bloc worth $3.00 trillion dollars the discussion so far have focused on lang groundwork for implementation and also getting the private sector to appreciate possible benefits but some business owners have doubts and say they're not yet ready to accept free market forces i believe in the interim will be shocks one begin to flow in. you know on proportionate measure. then blue begin to food in party and

economy and probably local industry we are able to compete the free trade area is currently slated to go into effect in july of 2020 analysts say awareness building will be a crucial factor if it's to be a success if you do this lies every to do a lot of it why have you not aware of what is going on but by the good thing is that an important forum like this is a starting point and we have to build on that insisting that the african union now faces a major task getting all stakeholders on board including those in the informal sector before the african free trade deal takes effect. now correspondent. has been following that summit in accra in ghana where he caught up with the african union's commissioner for trade and industry. to find out more

about the african trade so. we how we with implementation of the african free trade area we have to come up with a supporting instruments one of which is the shared concessions which is very advanced and there were expected to finish this. before the start of trading then we are also coming up with the regime when the rules of origin work is very very advanced we're going to finalize that the nearest abolition of burials monitoring reporting and elimination mechanism to ensure that the ready tariff reduction is not replaced by non-tariff barriers which is very very very very advanced we're coming up with payments and settlement pressure that triggers a period of time and if when they do transactions and they find out it we're coming up with an african. observatory to give timely information to export and import

across africa in addition to generous that exists so this is the preparations that are making and or this will be finalized before the start of treading konami's like nigeria joined very leads before that it was signed what is the commitment level nigeria was not deliberate to the. they were not they needed to go through very. national level consultations and other countries. are going through that so this is a part of democrats and they should be congratulated for bringing us so we must be going to 30 nigeria so countries undertaking national level consultations we have received a firm commitment from eritrea that the very soon they're also going to sign so in on time we're going to have 55 countries that have signed and we are many with 20 countries to give us instruments of that question i'm very confident that come 1st july 2020 all the remaining quint countries who have deposed the instruments of

replication and there. how does that even with a huge trade area like the after especially when preaching are blocks of. trading among themselves. what shop meeting involving the. economy communities and. of the african continent affected area which is the african union commission to get lessons of experience from these regional economy communities i mean it was to have doubts whether after anyway. what's your take on this whole narrative nobody is going to develop africa but ourselves we should be very confident that if we really work together as a team there's no challenges that cannot be met after told me they were committed or the challenges and one of the africans who are passionate about africa and i'm very very very confident that the. africans have the capacity to create

a future. i was dead obvious i was a c talking with alba which from the african union facebook's new cryptocurrency libras on the scrutiny from you antitrust regulators that's according to the financial times the newspaper says the european commission hustled specific information from those wetting on the ditch of currency by a question asked on tuesday bloomberg reported to the commission on specific concerns of a close potential anticompetitive behavior related to the libra associations of a facebook and the commission has declined to comment. that was business africa thanks for watching.

enjoy the conflicts with 2 sebastian junger east europeans traders moldova a new coalition government largesse his readers of my view mature but caught feist's president of the outgoing go mcafee prophet and a former justice minister would most over now how far he would for corruption is he ashamed to be talkies raechel in conflict so far in 60 minutes.

and on demand. language courses. and or you know. any talk to anywhere. w. me to use the term. this is d w news africa coming up in the next 15 minutes how it is now being shared between the military and civilians in sudan today the top general was sworn in as head of state 10 others top of them civilians were also sworn in as members of feet sovereign council that will oversee and new government until the elections. and what next for cameron separatist amazonia movement ofter its leader ascensions to life in prison. then be initiation of the new generate.