tv Business Deutsche Welle July 9, 2019 7:15pm-7:30pm CEST
slowly to get here but i doubt it but i think we will at some point be going to washington we've had so much support from so many politicians from so many people they're making a repeat no there you are watching the news up next to africa's ambitious plans for a single currency that's with the business. up next on the rock n roll and thank you for spending part of your day with me i'll see you hopefully at the top of the hour. lou the.
west african states line up to follow in european footsteps as the region's 15 countries plan to share a single currency by next year i'll call it the eco can it be a success. and the government in uganda shakes foreign companies in the country insisting they must list on kampala stock exchange. business business africa.
has welcomed the last 10 days have seen unprecedented movement in the pan african economy on sunday african leaders launched the largest free trade zone in the world covering 1300000000 people in 55 countries that followed hot on the heels of the pledge by economic by the economic community of west african states or eco asked to deliver a common currency as early as next year it's supposed to be called the eco and is intended to boost economic development among the 15 nations and allow the bloc to steer its own monetary policy the idea is not new but the single currency plan has failed multiple times in the past 30 years. so let's take a closer look here at the countries that are under the new plan for the new currency some already use the common money a common money it's called the sea far from frank which is pegged to the euro and
has been criticized as a colonial left over supporters of the new eco say it will encourage integration and protect small countries from the global currency markets nigerian president mohamed called the currency quote an essential prerequisite to promote corporation and integration in nigeria nigeria whose oil dependent economy accounts for 2 thirds of the region's g.d.p. . would likely dominate a future monetary zone but critics say there isn't enough economic convergence meaning some economies do much worse than others a problem the euro zone knows all too well debt is also growing in the region and intra regional trade is slow political instability from ebola to civil wars could easily destabilize a regional currency again and again well let's talk about this with our correspondent wise wise how close are we really to
a unified west african economy. well i think that is to walk ahead although it caused give a deadline of next year to study this but there are so many things that i've not seen in place this is a region which is yet to simply free movement of goods and services that has been declared for so many yes there are so many challenges because aside last 23 years it was only light period that we all did deadlines but with big. one yeah given that maybe it missed speak of so many counties within the region to have replied she what is needed for the tech. it was who's pushing this new single currency the ico and who's blocking it and why. in practicality nigeria because of its own economy and because of the
population is seen as a country that is pushing for a discount and then not crude to prison ha come out i said he pretty fight to keep his on currency begin a frog den within the countries that are using to see if if frank did see them selves i do want it to have a single currency the day using or do it dead people would long want them to continue using to depreciate so decided to countries that are pushing and that is not pushing against it. but what's the view among african economists is the region advanced enough to take this step of a single cause. many experts ah. yes deal with africa region has now taken their right step the right direction with this signing of the agreement of different trade
within the african union which nigeria did you. last week and many it's but i see in it but that is to walk it to be able to achieve these. steps taken by it was. because of the poor the economy advantage if ghana has it is out getting it resolved now it is going to be pulled back into the course with a new currency wise interest thank you. and now to some of the other business stories making news today zimbabwe's public service workers have rejected the government plan to raise that page amid soaring inflation they say the salary hike off an additional 11 u.s. dollars a month isn't enough it would have been zimbabwe's 2nd pay hike for the civil service in just 3 months. says in german chemical john
have tumbled off of the group slashed its earnings forecast for the yes have says preliminaries 2nd quarter figures are significantly lower and it blames the impact of trade conference. 6 decades after the original mini 1st rolled off the production line in oxford current owner b.m.w. has unveiled a new electric version it will go on sale in the 1st quarter of 2020 at a price of 27000 euros b.m.w. wants to have 25 different electric models in its range by 2023 the launch comes as b.m.w. seeks a new chief executive of the howard cougar last week said he would not stay on as c.e.o. after next year. british charity oxfam says africa the world's poorest continent is also one of the most an equal it
says the situation is especially die in west africa where the gap between rich and poor has reached record levels some says west african governments are not doing enough to improve the situation and that their citizens continue to be denied access to quality health care education and decent jobs corporations and the wealthy from the times. any of gondor the government has asked all foreign companies to list on the local stock exchange and off the shares to the public the country's finance minister says he is drafting a policy to enforce the demand and in an effort to reduce capital flight however investors are skeptical about being forced to list. if you can least back at your homes in uganda this is what uganda stick minister of finance david bahati is asking for a new vistas. he's proposed mandatory listing now 6 to retain cup he took and
encourage public investments in profitable multinationals we think that for us to involve more ugandans bust bait in the economy one opportunity is to list all these companies allow ugandans have shares and a spate in this gross of these companies but also had a bus to. cut down their top to flood that 5 seen over the years to the vistas listing in uganda stock exchange can be welcome however forcing it on them is not the only thing because there's a stock in a stock that's a stock market risk because the next business. for the company is if you don't end up listing companies that will make your stock market yes but markets laughable and is just not a matter of government wanting it's not matter of government being able to appreciate the environment where we are working right now before they import over
the 2nd producing expropriation. stock market analysts also question that floating shares should be treated carefully especially in sync with demand and reliable comic indicate has some idea that for the munda to release thing to be viable ugandans must also have enough capital and effective incentives to invest in the stock market we've also noticed that some of the returns on the stock at stand have never always had sprayed the needs that people are looking for some people are looking for returns that are exorbitantly high that the stock market can only offer realistically tons of about 15 so the challenge is would ugandan's expectations and still match up with the returns that the stock market can actually offer. the uganda security exchanges 17 listed companies. half of these are low cores while the wrist i mainly cross listings from kenya as les robey securities exchange
the largest stock market in the east african region. ethiopia is easing some of its electricity restrictions state media there says households and companies will be allowed to use more electricity a drop in water levels if your peers made them to free saw the country lose more than a 3rd of its power now that levels have risen companies will be allowed to use 50 percent of the pound is during the day and 100 percent of not. going to france which is to introduce an eco tax on all flights departing from france starting in 2020 the new levy is expected to raise around $180000000.00 euros transport minister elizabeth bourne said on tuesday the funds will be used to finance public transport in france. one euro 50 that's how much economy passengers will soon be paying on top of the regular airfare for most flights leaving from
france business class passengers will be taxed 9 euros with those flying to destinations outside the e.u. paying up to 18 year olds extra now of course it don't go as france has committed to what europe is putting forward and taxing air travel there is increasing awareness. things are beginning to move but this is urgent that like other countries we have decided to put in place an equal tax on air transport on all flights departing from friends just to divert about our phones france is interested in more than an equal tax it's also pushing the e.u. commission to end a controversial tax preference for airlines who are exempted from aviation fuel tax something germany has also criticized the e.u. members like the netherlands are also interested in levying an equal tax on flights france says it will use the proceeds to boost sustainable transportation like its rail network the country has long sought to lead the e.u. on environmental policy but with mixed success president emanuel mccrone was forced
to shelve a plan to tax on diesel fuel after widespread protests by the yellow vest movement . indonesia says it will send more than $200.00 tons of garbage back to australia is the 2nd time in less than a month that in the news has refused contaminated waste a container seized by a contained mix ways to including paper products and even used baby diapers in these and customs officers said the 3 companies involved in the shipment would be held responsible. and that's it for me and the business africa team here in berlin for more business news stories check out. africa is next after this quick look at global markets.
of fish. sure link to news from africa and the world. your link to assumption stories and discussions can you and will come student news i'm frank program a night from one examines the menus of these each hour i would say d deputed close the traffic on join us on facebook at t w africa. this is news africa here's what's coming up there's the well heading for you fool still feeling on education hundreds of thousands of children still don't go to school and the u.n. is warning that number is set to grow to speak to an education specialist in bangkok also coming up. it's rare it's expensive and.