said that it conducts checks on its business but in effect it is impossible to control who buys nazi memorabilia and for what reason. is up next piece of business south africa. got a website t w dot com we'll have more world news at the top of the hour of the day. what secrets lie behind small. discover new adventures in 360 degree. and explore fascinating world heritage sites. d.w. world heritage 316 get enough now to. show hello halflings this is new ball speaking when i come to the show with a ding dong xoai and concerts with phil mistruths gifts.

sounds. and then incredible location. groups every week on t w. time is running out for south african airways flag carriers crumbling on the $1900000000.00 of debt and the strike is crippling operations while the government any other choice and to back it with tax private payers money. is becoming africa's poster child for foreign direct investment i'll do they do it's costing website stars as. africa's all exporters are relaxing legal rules to entice foreign

investors investors but is it too little too late. this is business africa. as well. south african airways is running out of cash and could be liquidated if the government doesn't give it additional guarantees soon a board member said on wednesday trade unions are also threatening to escalate a crippling strike that started last week the wage talks turn sour and the airline said it plans to cut almost 20 percent of its stock off state don't as has racked up losses of almost $2000000000.00 over the past 13 years. late last week thousands of south african airways workers embark on an open ended strike they want higher wages but the company has rejected their demands and threatened layoffs hundreds of flights had to be counseled as the strike got underway passengers reacted with more or less empathy i will never fly fly again ever have

and i've got to get that phone come back to believe i have to go to south africa and. just being so inconvenient costing me a lot of money you know ok the company was ready you know. i didn't had a ticket but they putting me on another flight workers may have a point i don't know all the intricacies of it but i am very fearful for the economy because obviously to speak can't afford it in this country the ses musing out the economy's losing out and that's not good for you vista confidence. the strike is compounding the crisis gripping s.a.a. the airline is deep in debt despite several government bailouts it's not posted a profit since 2011. the kashyap government says it can bail the carrier so its financial woes could see it grounded permanently. the financial crisis as a as a key test of president's circle around the post has pledged to fix bloated state

firms but the government has said this week it will not throw money at the failing company let's bring in our correspondent was from girl in capetown will romo goes up in the end have no other choice then come to as a as rescue with taxpayer money well that's has happened over and over again right these bailouts it's been so many many over the years and although you saw people in the teacher saying like ok we can't do south african airways there's also more and more people here in south africa that are actually saying or so i'll march taxpayer money going to south african airways and not is enough you know what we know now is that they probably won't do not have bailout dismiss school year south africa is already under huge. restraint. so what what hamas has done so far is it's sending his minister of public enterprises who are the very capable men the stuff to do you know through south african airways as you try and folks sense into them saying to the strike us like this we have to restructure our ways this company will

survive that will mean job losses and we also call on the fort hood to increase in salaries that you're asking for and see the asking understand it because otherwise this company almost and all of you will lose your jobs that was what happens if indeed goes under what does it mean for the south african economy. well south african airways itself actually was quite hopeful still today they've been saying that they've been speaking to that accent that they've secured loans of one of them 20000000 not enough of course to cover that but at least they're saying it could keep us afloat a little bit longer out although now of course the debt is in greece and which with this crisis will mean that at least $5000.00 jobs will get lost and that in a country where you are already looking at 29 percent of unemployment and of course is not just as the employees but also a lot of contractors so indeed it will be very severe for for the economy of south

africa and also to lose that brand i think that's also something that yeah the government is not willing to. listen to them thank you very much. no the compacts with africa is an initiative aimed at bringing more private investment to african countries is called compact which is not for africa because it's all about building a real partnership this week the german government hosted african politicians to lots of smiles and encouraging talk but a closer look shows that germany isn't doing that well it's this close a look france a former colonial power is leading foreign investor with direct investments at 64000000000 dollars next is the u.s. with $50000000000.00 for by china with investments worth around $43000000000.00 and germany is lagging behind with only $10000000000.00 over the past 10 years german investment in africa has been stagnating while china's investment rose rapidly as that country has discovered a continent as

a lucrative market. awards also be thanks to a rising middle class that is projected to grow from 150000000 people today to 600000000 people in 2030 times the german investors to see the writing on the wall still some german companies are investing more in africa and there are good examples of progress as the next report shows it's on the sidelines of the compact with. investors and policymakers from across the continent break the ice and lead the seeds for future economic cooperation the deal you reform and capital will flow. has led the way from civil war to economic. you can register your business within 6 hours you can file your taxes online and these are some of the services those which try to really make sure that

we improve on efficiency and that's what has made the round and now the 2nd easiest country in africa to do business by the world bank rankings and investors agree folks wagon has opened the plant for electric vehicles siemens is building the charging network and a local startup has seized the chance to create a car sharing app it's win win and sustainable you bring and build we're bringing education investment and infrastructure and actually we're not extracting too much raw material. with success comes self confident and the prospect of a brighter future rwanda's economy is growing at 8 percent per year and now that we have the continental free trade area women which has created the largest trading block in the world by stablish in yourself in rundle you have access to the whole continent africa is on the door but german firms are still barely on the road there

the change is coming investment have increased in the last year by 10 percent. well the need for foreign investment is driving many african states to make it easier and cheaper for overseas companies to keep their oil and gas flowing from ghana to go beyond governments easing terms to lure investors the change in strategy follows decline in oil production and on golan cameroon and disappointing bid rounds for licenses in ghana which now plans to allow companies more leeway in where and when they can drill on goal is also revising laws and plans to privatized all assets these moves show that the era of $100.00 a barrel is over the prize for brant crude has fallen over the last 5 years to now 62 percent 62 dollars a barrel and as we knew a bulls and efforts to cut fossil fuel consumption gained ground concerns are also growing that the world will not need as much of africa's oil as it did in the past let's talk about this

a bit more and bring an end you he's the chairman of the africa energy chambres and also of multiple books on the africa's energy sector n.j. how dire is the situation for oil dependent economies in africa. it is it is troubling what is going on or depend in a common economies around africa they have basically relied on oil and gas to relief on the budgets of the economies and drive growth so when you put when the prices plunge and did no longer $100.00 we really take it we really take it big in new infrastructure in new social spending and they have to cut budgets and so it's very easy it's not a very good time it's picking up but it's not like where it was in 2014. we've had to some countries are trying to ease legal restrictions will that be enough to entice western investors. it is showing some signs that it is going

to be an easy going to entice with investors but we have to do more we here really have to create and in every environment to attract more people to put money in exploration you know a lot of people right now with energy translation or climate change issues do not really want to for an exploration programs but this is not the admit it's a good friend dynamic shift and you would see a lot of that in the upcoming african he chambre report that is coming up at the end of this month you just saw us last week a big big you just covering gonna buy an african firm but also if you look at got bone you look at ghana you look at angola the are looking at is you're looking at ways to see how do we ensure that we can still i track those companies like before because the good old days have changed they we have to do something different we have to make it actually so that people can invest and people can really do and oil

companies can really develop that but we have to change that it has to be a focus of on gas and not crude because gas is really going to develop ikon a means to create what i suspect will chemicals different kinds of jobs and it would really create power plants because 650000000 people do not have power it's time for us to develop i can only assume all africans and we need to really push governments and shrive governments to do that those changes and it's tough but you have to give something you get something you know it's business is not charity and we have to continue pushing it just and thank you very much thank you so much thank you for having me. before we go a quick look at some other business stories making headlines today french satellite specialist space is about to launch a geostationary satellite into orbit for european operator util sent the spacecraft

will provide low cost high speed internet to most of africa as well as southern europe says the package rates will be affordable on african average incomes. planned arbitration talks to help end the strike been cancelled at the last minute germany's biggest airline has been facing the largest strike in its history but cabin crew forced thousands of flights over several days unions demand better wages as well as improved conditions for temporary workers. and that's it for me and the business team here. with christine that is up next right after.

the overthrow of the gadhafi regime libya has descended into almost continual conflict between its rival centers of power my guess this week here in congress it is after midnight cheek deputy prime minister of a u.n.'s backed government. not sure of course closely are larger groups of the issues which are being credited to serious human rights abuses conflict zone. in 60 minutes on. people world over

information part. of the want to express. on facebook and twitter facebook addict in touch. following. this. coming up in the next 15 minutes the children forced into marriage bring you the story of a child bride in nigeria who was locked up by her family she refused to return to a husband. and zimbabwe's backstreet doctors and nurses all striking so women are turning to unqualified midwives to deliver their babies.