business here is the africa with monica jones it will be with you and just a moment i'll be back at the top of the hour in the meantime of course as always the web site teamed up with the dot com i'm going to. birth. home. of species. a home worth saving. given those are big changes and most start with small steps but googling 2 years tell stories of credence people and innovative projects around the world. but news that could turn good news to greenwich solutions and resource to try. to interest content to choose the next generation of talk to

church. music channels available to inspire people to take action and more determined to do something here for the next generation. sfi environment series of global 3000 on t w. what's wrong with africa's most developed economy south africa grapples with its cash strapped state owned enterprises i mean to rampant xenophobia we go live to johannesburg. also coming up with one of those and most aside the taxi market has seen a flurry of tech investment now it's ready to switch from gasoline to electric. welcome to a business africa i'm going to johnsonville and good to have you with us. a wave of retaliatory attacks of hate south african owned businesses in nigeria apparently in

reprisal for center phobic attacks that have been taking place on foreign owned businesses in south africa and chrysler attacks in the nigerian capital abuja have been intensifying with a south african supermarket chain shoprite heavily targeted telecommunications firm empty and has also been hit the attacks come in response to a wave of xenophobic violence that has beset south africa hundreds of nigerians there are reportedly to be flown home free of charge by private nigerian airline peace. meanwhile ratings agency moody's just trent its forecast for south africa down to north point 7 percent in 2019 citing fiscal risks and political constraints to economic reform and the risks are huge south african state and energy provider s come alone is drowning in debt and needs state money to keep

the lights on it's only one of many public enterprises relying on government bailouts to stay afloat. dark times at its cons headquarters. wire. tests or. in the midst of a suppose a turnaround south africa's national power utility needs another government bailout . with national debt to g.d.p. of over 55 percent this threatens the country's future and we have severe fiscal constraints. so this idea that you can just pick up a phone and see only that 100000000000 of the 20000000001 fail out or 200000000 the bailout. that you know needs to disappear faster then then we have gotten to be

doing ok i think we're in for the shock pretty soon we're in for a shock because there isn't going to be government money supplying 95 percent of not only the country but entire southern african regions energy eskom received 4000000000 euros from the government to keep the lights on in 2019 alone leaving analysts worried that planned reforms that eskom are nothing more than talk . at the synonymous with the treatment that has been given to the other failing state owned enterprises where they have also been given. to sort of kick the can down the road and not address the urgent issues that need to be addressed in terms of corruption mismanagement and gross inefficiency the power utility is just one of many public enterprises that cannot sustain itself the south african broadcasting corporation needed

a 200000000 euros government cash injection in july to keep the national broadcaster on air south african airways is technically insolvent and has swallowed over 2000000000 euros in state bailouts in the past 2 decades government warns that attempts to clean up state owned enterprise finances are being stifled. so you have a whole lot of people who are afraid of going to jail. that's a good option. and yet. populism elsewhere in the world. is not good for south africa and investors don't believe the government is doing enough with moody's the last ratings agency to keep sub africa at investment grade recently changing its outlook to negative. for more let's bring in phil a debt in johannesburg where he is associate editor of business insider south africa what's holding south africa the continent's most developed economy back

at this point just about everything was still suffering from the hang of rampant corruption which is being investigated at this time that template the electricity sector one of the reasons it's come is not performing is because millions billions of euros possibly was siphoned out of there that meant that electricity became much more expensive in south africa that affected the manufacturing sector and that's just one example of the kind of knock on effect that we've had to south africa after many years of mismanagement correction is now reached the point which something has to give there's the national treasury keeps telling us and the choices that we have to face of politically unpalatable and that's a big part for the political trouble that the ruling alliance finds itself in at the moment yeah i mean in this report we heard the public enterprises minister say that he thinks we are in for a shock pretty soon because there's no more money now if that is the case went to

privatized. well that's one of the political problems that the ruling alliance faces the a.n.c. is no alliance with the trade union federation cosatu adds well as the south african communist party both of those organizations a militant leader opposed to any form of privatization and has previously over the decades managed to scott by any plans at privatization that notwithstanding things have gotten so bad now that the a.n.c. is pretty openly talking about defining those alliance partners and saying that there is no other routes there is no other way to to find the money and so the a.n.c. seems to be quite serious this time around talking about privatization when it does it will have to face up to protests which will almost certainly erupt within the government sector and we've already had certain sectors of government employees promising that they will be rolling mass action the moment there is any attempt at privatizing and of course if you want to privatizing it investments how do that is

sent off i think a tax on migrant drawn shops and businesses impacts private and foreign investors. it certainly doesn't help south africa is not a great investment destination at the moment just looking at the volatility of the currency looking at labor legislation looking at the prospects for growth into the future looking at the ability to get hard currency out of the country so on top of all of these issues you now have international headlines on a daily basis about rampaging mobs through the streets of the commercial capital of the political capital and you've got potential foreign investors looking at some foreign companies in south africa who at the moment are not allowing a people to travel they saying to their employees please don't travel across the city to go to meetings that's not the kind of environment that really attracts foreign investors is indeed going to divest of their reporting from johannes that thank you so much. fox has long touted itself as

the one car company that can mainstream the electric vehicle putting its massive production scale to noah costs and improve battery life and off to make electric attractive now v.w. has unveiled its all of a compact timed with the opening of the frankfurt motor show the id sri question well the average person i eat. for europe's biggest automaker the id 3 isn't just a car it represents an idea of what flex 5 and wants to be in the eyes of environmental regulators and increasingly climate conscious consumers. now this is the car that fox falcon is hoping to make an icon the way for example the beetle was its big bet and lotro mobility amid what's become a battle for relevance. running up to 500 kilometers on a single charge a tent for every day mainstream use but as many electric vehicle makers know just because it was built doesn't mean it will sell for exxon is counting on low prices

and high volumes to make a profit until 202815 1000000 cars and the most of our new rules will be built on this platform with this platform we are generating scales and this case we can use to give our custom us a prize below 30 cells and euros and of course there's such a huge amount of volume you can't afford to make the process now concerns are growing about whether electro mobility is indeed the way forward towards a carbon neutral transport people are worried about what happens to the batteries at the end of its life people are worried about mineral extraction what do you say about those concerns we think that electoral billett the earth at the moment the right technology because we are committed to perris 2050 we wants to be on to 2050 climate new truth and today electrification is the best choice to realise a short notice. c o 2 reductions until 2025 we want to produce more than 1000000

electric cars with this we can reduce the c o 2 emissions for free by 30 percent the id 3 represents one of the 1st tangible results of that effort but whether it's paid off is something consumers get to decide following its market released next summer. how to get it right with climate friendly mobility is not just a challenge for german comic in rwanda the government is keen to speed up the switch from dirty to clean mobility it's issued national policy guidelines to eliminate gas motorcycles in its taxi sector in favor of it motorists. like thousands in the rwandan capital kigali james musi she makes his living as a motorcycle taxi driver. at the start of the year he switched to another trick motorcycle a move he says has made him an extra $5000.00 rwandan francs per day the equivalent of 5 u.s. dollars from a base near it if you come up to

a benefit to match your horse. before you see if it was used in the day but not it by creatures hewitt has had a 5 year try to get 15000 or 160052 put this one i get criticized that if i did time about 20000 it went to something. with rwanda's government setting the wheels of the mobility in motion companies like local startup ampersand spot an opportunity they've been developing email rose as they're known here for 4 years now they're selling them to motorbike taxi drivers for $1500.00 u.s. dollars amberson says the motors are easier to operate and cheaper than gasoline motorbikes. so i'll vehicle has more power than the current motorcycles that are used in rwanda so i'm all climbing power there's no gears you don't have to shift especially in traffic juggling a clutch and foot brake and you don't have to worry about any of that makes it much

easier to drive you can even go in reverse if you need it to which is unique for motorcycles. and it's cheaper to buy cheaper to operate. air pollution is responsible for thousands of deaths a year in rwanda. motivation enough for james move c.c. to buy his the moto. he says the switch has dramatically improved his respiratory health. but it's the promise of a higher income based on cheaper running costs that's prompted many other a london motor taxi drivers to get on board. that is your business update here and thanks for watching.

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