tv Business Deutsche Welle July 18, 2019 7:15pm-7:31pm CEST
penfold it will have that story i'm told just a moment up about a little off about a good day. if you ever have to cover of a murder the best way is to make up the backs of. raring to. never read a book like this one. the toughest to return to the streets. i was issued when i arrived here i slept with 6 people in a room. it was hard i was fit. i even got white hairs and
the. language ahead of this keeps me and little bunch maybe took in truck loads of say you want to know their story. that spurred fighting and reliable information for migrants. look up. a global trend to cut interest rates catches on south africa's central bank is next to low borrowing costs to bolster the economy and bring relief to a shrinking middle class. not much of a catch overfishing and climate change sap lake malawi vital source of food for the region. and fin tech successful fight for funding a building based on line back becomes germany's highest value. and pain for us all and that's to business south africa's economy is contracting so is its middle class
that could cause tension. in south africa reserve bank has cut interest rates from $6.00 and $3.00 quarters to 6 and a half percent it joins a string of central banks across emerging markets that are producing borrowing costs global risks are high and domestic demand in south africa is low indebted consumers are holding back from spending. is an estate agent in johannesburg. he sells apartments to the upwardly mobile in. one of the trendiest suburbs in the inner city currently rent out a property that i used to live in here. i heard that b. and b. is quite good in the area so i thought you know what the this is an opportunity and can give more income from this year so i started doing that then i moved back home . because business is a bit quiet story is common as africa's most developed economy status
and economic gains enjoyed since democracy in 1994 and if 3 it. without any inherited generational wealth to fall back on middle class blacks especially run the risk of regressing financially. you've got a black middle class that in the end can not create sufficient wealth to move up the income chain get anything they risk moving down the income chain because they cannot service that it anymore they trying to trade down because they cannot serve as the lifestyle that they've created for themselves you know. they're saying to me the numbers paint a grim picture frailing to absorb the rising cost of living many sub africans are forced to rely on credit to survive ending up in debt counseling are paid then one has in demand about $25800000.00 credit active consumers of africa
and in the really 152016 financial year about $6000000.00 of those with the math at least the manson areas but that number has gone up to $1111000000.00 so well off the credit income the credit to consumers actually starting to be here comes even map. for cabello moving back to his grandmother's house and so we're told is not all bad. and he feels the good times will return with a bit of luck and hard work the leader said before it's amazing i just want to make . but then i see the positive in it because it's an opportunist been more time with family and just enjoy the little moments with them but in. my plans for the future actually to push the business. through this whole cheer of
the economy of so the africa but with g.d.p. growth of only 1.2 percent predicted in 2019 good times may not be so close on the horizon let's go live to it is one in cape town as what sort of relief will today's interest rate cut bring odes it came bakery for inside africa and that it is big news for her mania as well that this middle class you must realize that they pay a quarter of the income often on servicing their bets and servants and they interest income related on debt that they don't have a lot of financial space because they're white of the finnish an up and middle class here in south africa you already middle class when you're on just $200.00 euro's for months so yeah it's a big relief any financial space on that kind of lot of money that you're in for months of course is huge what's all this mean for south africa's racial divide. well it's interesting because the middle clause in the upcoming black middle calls
that we've seen after 1904 in south africa has become a democracy has always been kind of healed is the benchmark on how is this the marquess you doing are we moving forwards are our black south african actually gaining from this new democracy so that's the black middle class now is shrinking again besley is not good news for south africa and it is actually showing that although of course the racial segregation is longer here you still have whether your own humble economic apartheid state still black south africans are the poor part of the populations that africa and white south africans are still the daily so yeah moving forwards a south african definitely needs to work in making sure that that black male calls will grow again and that we have more consumers and in that markets have how how what more can the government do to improve the situation. yeah i know it's a debt that's really the needs to be a long term vision the problem is that the unemployment the youth unemployment here
is staggering and the problem mainly is that there are jobs look for skilled workers but most of the young south africans are unskilled and a lot has to do with education public schools they don't give sufficient education to to set africans so we see kids leaving primary school and it a const sufficiently reads and do math so you don't get the head start in life that you need to actually in the end when you're a grown up to get a good job so it's a very challenging and thing here that the government needs to look at at the same time there are the global challenges there are obviously also having an effect on south africa how how much is south africa as an economy dependent on global growth . no it's definitely a dependent on global growth and we've seen as well that president surrealism of course i post here he spends a lot of time looking for investment so we're scenes of horror horror set africa.
south africa has a big mining existence that also dependent on london commodity prices so the whole global system said africa has seen the effect on its own economies so that at least today as i said it's kind of does give people a little bit of relief this interest rate cuts also comes because the inflation is rising so hopefully it's will get a little bit better for consumers now in south africa now cape town correspondent ellis thanks very much a lot of boats pulling up in the nets over fishing and climate change have sapped lake malawi it's long been a major food source for the region but for years fish stocks have been dwindling it's damaging livelihoods in an impoverished country evening sets in it's. a small port on the shores of lake malawi fisherman return after
a day's work on the water fish are important here as a source of food and money. but the catch disappoints as has become the norm lately buyers and fisherman that goes here for traders take the fish they have bought to be prepared for market the industry here is not like it once was overfishing has devastated the stock of nutritious fish that used to be the main source of protein . maybe do it was easy to catch fish in the past but these days people find it difficult to can go fishing in the evening and return in the morning with only 2 tins of fish fish is now scarce. on sustainable fishing practices are one of the main reasons behind the reduction in fish stuck locals have resorted to catching smaller fish that are not yet mature that has made the situation worse. people kill the smaller fish because of poverty fishing is their only source of money they're able to buy food only after selling the fish and that's why they
killed the smaller fish. but overfishing isn't the only problem climate change is also to blame local said the rains on the lake have become more intense that makes sailing harder for fisherman malawi is one of the world's poorest countries and it has a long history of food crises the world bank ranks among the top 10 most at risk countries to climate change in africa as well so these are worrying times here and for the locals in sangar there is considerable doubt as to what awaits over the horizon now to some of the other business stories making news she said ministers and central bankers have met with philanthropist bill in the gates of paris to discuss how to reduce inequality he pledged more than 100000000 euros to help women in africa play a bigger role in the global digital economy most of the funding will come from the bill and melinda gates foundation. the european union is fine chip maker qualcomm
$242000000.00 euros for what regulators call predatory pricing between 2009 and 11 the charges relate to the sale of chips at a low cost which the e.u. says was intended to drive a rival out of the market investor appetite for fin tech innovation just keeps growing the german startup and $26.00 is may begin roads in mobile banking and has now become one of the most valuable fin techs in europe. 4 years ago and 26 is little more than an up without a banking license today the german company is one of the fastest growing banks in europe with more than 3000000 customers already signed up. n 26 is a so-called direct or mobile bank it has no branches and conducts all its business online on like traditional banks it has just announced a fresh round of funding from
a host of existing investors and tooting chinese company 10 cent and german insurance giant allianz this values the fin tech at more than 3000000000 euros making it one of the most valuable companies of its kind in europe it is the most valuable german startup on a par with other european success stories such as swedish online financial services company china and transfer wise the u.k. based money transfer service all their high flyers include british pair b.g.l. and north which are both valued at around 2 and a half 1000000000 euros. and 26 is headquartered in berlin and recently launched in the us with plans to expand further in the coming years. so the service of expansion we are very much focused on the one hand it is deep enough to present you know 24 you're working so we're active in further what we have launched in the u.s. last week so the. big investment into making it 26 a big success in the u.s.
these are heady times for the online bank but it hasn't all been good news for the company recently in march it was reported that a customer's account was hacked and emptied of $80000.00 euros while in may the german financial regulator baffin warned then $26.00 it needed to step up security measures to guard against money laundering so while the money is rolling in for n 26 plenty of challenges remain. so they could have bright and i think business with here. the body.
his master to be took part in the greatest adventure in history. armstrong was his destiny starts july 20th on t.w. glen. africa coming up. in the next 15 minutes the deadly ebola outbreak in congo is now an international health emergency declaration by the death of you a child will bring more attention and aid to the outbreak existed if it's on the for out. you don't you know you're famous somebody just. you don't know what to do you feel too good for you to bury that person you're still good today.