tv Business Deutsche Welle July 23, 2019 7:15pm-7:31pm CEST
all that more coming up on d w business news africa with monitor jones don't forget you can always visit our website for the latest news see that you've got com and you can follow us on social media my name is sarah kelly thank you so much for watching have a great day. coach of british. linked to news from africa the world tour link to exceptional stories and discussion from the news of easy town while wimps id double the comps much traffic up join us on facebook at g.w. africa.
is it the panama papers all over again a leak reveals how most siphons tax from poor nations to benefit elites we go live to brussels to dick dicker. also coming up how homebase chocolate production can help bring quality of life back to conflict regions in the democratic republic of congo. and to africa's working age population is expected to surpass both asia's and europe's by the end of the century. what to jobs will be available and where.
i come to do business africa i want to get jones and berlin thanks for joining. an investigation by the international consortium of investigative journalists has revealed how major multinational companies are avoiding paying tax in african countries by moving operations to. the island nation located far off the south east coast of africa has developed a reputation as a tax haven now the scale of the tax avoidance the country enables has become apparent k p m g is among a number of audit firms that advised companies to exploit tax loopholes and malicious of the multi-billion dollar companies named in the research include costal and to pick us as capital advisors and rockstar and antipoverty come pay now bob geldof is also named in the findings a scheme to get private equity into africa which he spearheaded also benefited from
the country's tax loopholes now for more i'm joined now by a long haul policy adviser for tax and inequality at the dutch affiliate of the international oxfam organization good to have you with us please clarify for us 1st of all are we just talking about exploiting tax loopholes here because that as far as i know is not illegal. yes exactly so i haven't seen anything illegal so far what we are seeing here is a country mauritians this accident that uses tax incentives to attract companies to its territory and those tax incentives hope move the nationals who are paying taxes in many african countries and what scale are we talking about here in terms of financial damage. this is a huge deal i mean this has been going for a long time already mauritians being a tax haven is nothing new some has pointed out that morris has will be one of the
worst sex slaves in the world in 2016 already so it's ark millions maybe billions of dollars of revenues lost over the past few years in many african countries when we say revenues blasts this means that countries have less money to invest in hospitals to invest in schools and effects of hornes continues we will not reach the sustainable development goals now you say that nourishes it is nothing new that it's a tax haven it is actually on the e.u.'s grayle list of tax havens what exactly does that mean yeah exactly so the european union has started with the blacklist of tax havens and it has a blacklist and a greylisting the blacklist is for those countries that do not commit to change their laws and the grail is this for those that do commit the change or last summer issues has committed to change its laws but the problem is that the criteria of the e.u. are to reach so it actually means that nourishes will be able to continue business
as usual by just reading a little bit its rules so nothing will change drastically. in mauritius and of course this isn't the very 1st big leak we've had the panama papers before how many more such schemes do you think are around. well there are many schemes around also many taxpayers around morrish is not the only tax haven there are many tax havens in the european union for example as well ireland luxembourg the netherlands also african countries lose money because of these tax havens so what we need is a global solution to this it's a systemic issue and one of the global solutions that is now that they were and being discussed at the moment under g o's in the umbrella is a global minimum a worldwide tax rates for multinationals and really hopes that governments agree on this worldwide minimum tax rates in order to stop aggressive tax competition and to stop this mess of tax avoidance by multinationals all right there you handle one
of our policy advisor for tax and inequality at the touch affiliate of the international oxfam organization talking to us from brussels thank you so much for this a grandmother. turning to congo now its fledgling chocolate industry gets a boost with the country's 1st homegrown chocolate company. located in the war torn region of north kivu creates how to craft a chocolate from local dns the couple behind this business idea i do grant from cameroon and matthew chambers from the united states both are convinced that business in conflict regions is not only possible but that it can make a difference. sweet chocolate aroma fills the air the exact recipe is a secret which founder idea where to keeps very well. with it took a company was not as easy as i thought it would be. as we have a challenge to find the right equipment that will not rely on power and also find
in quicken that cold be the source because we wanted to be the product to be and take us possible the 34 year old financial expert grew up in cameroon and together with her american husband matthew chambers she came to the democratic republic of congo 6 years ago to create the 1st being to bar company in the country . as for the chicken it is part of a new brand that we are developing right now this is called i am of age and we won the producer and the consumer to be we because together i know consumer nowadays they want to know what the product comes from the is the product being sold so it's possible they. being treated fairly the company buys beans from women small scale farmers in beni or town in the conflict or north kivu province which recently marked the headlines with the a bold outbreak a place many investors shy away from i wanted to be
a pioneer. when you have people telling you that it won't work that's exactly why i want to come here to prove them wrong the couple is convinced they can make a difference it's not good enough. just be sourcing from from areas that might be conflict affected but to then also do the value addition there but then to add another layer on top to show that this can be done by women that women can lead this change this is why i work here 16 local staff work today for the small company in goma still amazed that they actually produce chocolate. we thought that this could only be produced in europe asia or the united states and that africans couldn't make chocolate today we're proud producing a chocolate that is tasty and chocolaty. should. actually look at me is that around $200.00 we have planned to scale up the protection and. the us and
so on and hopefully even get 22003000. the chocolate wrapped in a decorative paper painted by a local artist recently found the interest of a global player amazon and soon they will be offered online congolese consumers can already buy the chocolate in local cafe there's. going to get this is put d.c. on the because it's produced locally jobs get created and people get taken care of this is encouraging. the selling chocolate from congo is not only a business idea it's also telling the world that there's a different hopeful side of congo. aging populations are a ticking time bomb when elder generations retire declining birth rates mean they're left and replaced in a country's workforce and that's a big problem in asia and in europe especially for china russia germany japan and south korea whose indigenous workforce is
a shrinking rapidly but in africa the picture is quite different the united nations' world population division says the number of working age africans those aged 15 to 64 will increase by almost 39 percent by the end of the century let's zoom in on one example in particular now africa's biggest economy and that would be nigeria will probably see its working age population surge by a whopping 340 percent to more than 485000000 by 2100 or 2100 the upside is that africa won't have to struggle with a future labor shortage how ever the question is whether african economies can expand quickly enough to provide jobs for the growing number of where this interesting topic and i'm very glad that we have correspondents join to reindeer are standing by for us in nairobi to give us a more inside so interesting statistics there are african countries actually
prepared for the sheer numbers in terms of working age population. yes and no yes we are prepared in terms of the energy that these young people do have we look at the median age that is about 16 years of age in africa and of course we're channeling out graduates every yeah but that the challenge is right now even on the african continent the unemployment rate is still high because the reach of job creation does not match the population growth on the continent and that in itself is a big challenge leaders and policymakers as well as decision makers are aware of this challenge and some are trying to change the education system to match the market demand for the jobs that we have but that in itself is just not enough saw a lot more needs to be done in terms of job creation and of course in an
educated population too much the job demand right now if there aren't enough jobs in africa and the chance again africans could still feel the vacancies that are left by aging asia and europe interesting question you didn't mention that you know there is an aging population in germany and japan and that is where we have seen quite a number of people from the african continent as well going to have to look for greener pastures but we also cannot leave out the fact that our population today is quite poor affording education is not very. them and so it becomes difficult for people who would like to work abroad in countries like germany and japan to meet the demand because not qualify for those who qualify not being paid what they would like to sell an additional challenge their joy during their reporting from nairobi thank you so much. and the international
monetary fund is downgrading its outlook for the world economy because of simmering international trade tensions the i.m.f. expects the global economy to expand by a sluggish 3.2 percent and $29000.00 that's down from 3.3 percent growth it forecast for this year back in april rates in africa dropping by a similar amount the organization blame to the lek last a gross on trade tensions and a tariff war between the world's 2 biggest economies that's the u.s. and china. and that is business africa your own d.w. for me in the team thanks for watching.
do know why. it's time no voice is part. of the 77 percent he told me. this is where it comes. to 77 percent this weekend on d w. s instead of the news africa coming up in the next 15 minutes kenya's fight against corruption the country's finance minister has been arrested and charged with groff so does the smog a turning point for the notoriously corrupt country or is this politics at play. and the european union's mission in africa the block is increasingly focusing its attention on countries in this a health as it seeks to curb migration. then on the road in madagascar where.