tv Business Deutsche Welle August 12, 2019 7:15pm-7:30pm CEST
discovered. subscribe to documentary on you tube. blackouts are a daily nuisance for businesses people in south africa the energy market in shambles our real estate is presidents are on the poses. a 25 percent renewables in the country. loses its taste for european companies the number of chinese takeovers drops sharply is that because western governments are getting wary or does beijing simply prefer to invest in africa. is this. business business
africa. south africa's energy market is in disarray frequent blackouts highlighted years of under-investment in the state electricity provider eskom africa's most industrialized economy relies on as coms coal fired plants almost all of its part presidents are on business plans to change that he wants 25 percent of his country's energy needs to be met by a new opel sources by 2030 but progress is slow all of a sudden it's lights out in the machines grind to a halt blackouts and now part of daily life in south africa with state power company eskom unable to meet the country's energy needs it wasn't always this way back in 2011 the country announced a multi-billion dollar investment in renewable energy projects but under the leadership of former president jacob zuma the program was scrapped and the focus
instead turned to nuclear energy leaving the energy mix looking like this by far the biggest proportion of south africa's needs are met by coal 85 percent oil and gas and nuclear energy together make up much of the rest renewables account for just 4 percent. when president cyril ramaphosa or took office last year he put the nuclear expansion plan on the back burner choosing instead to shift the focus back to renewables his aim is for a quarter of south africa's energy needs to be met by green sources by 2030 years they want coal to supply just half. the following is mismanagement he faces an uphill struggle especially when blackouts are already hampering the progress of the south african economy. from johannesburg joined by our correspondent. from a european perspective it's hard to understand you think of south africa as a land of abandoned sunshine where all the solar stations
indeed there is plenty of sun here indeed indeed the government recognized in 2003 when it put a document which they call a white paper to try and find ways of getting an h. or power from the sun from the wind but delays wimmin the jew to the focus of the then president nutrition and which focused on nuclear as alluded to and is when the technology is trying to store that nature and create it where not today at all at that time but now under serum oppose the government seem to be saying it knows what to do in this going to get that energy from the sun. but does it really knows what to do is there really a realistic chance for renewables to take off in south africa what needs to happen . there is a plan that the government has already drafted that goes up to 2030 and even up to
2050 where the government is now introducing independent energy produces to try and pursue energy from the sun from the wind and from classes when and already the government is engaged this independent and it produces to try and make sure they are dead to create the energy and then they send the energy eskom that eskom gets it to 5 and currently about 5 percent of that energy is already produced by these independent and purchases and the government jobs as the time goes as. they get more funding as they get more technology they would increase this up to 2 and 5 percent as you have stated. to sukumar live from johannesburg thank you. now the future of south africa's car industry could very well be electric if a group of auto manufacturing giants get their way german car makers b.m.w. folks to pounce nisson want to introduce electric car manufacturing to their south
african factories the sector makes up around 7 percent of the country's economy the 3 car makers are working on a comprehensive plan for electric and hybrid car production to be presented to the south and south african government by the end of the year their goal is to increase the domestic popularity of electric cars. foreign direct investment in africa jumped by 11 percent last year defying a global slump according to un figures china is one of the big investors on the continent but in other parts of the world chinese money is drying up a new report by consultancy easy why blames the continuing trade spat between washington and beijing for address to draw in chinese investment in europe. in president trump's protracted tariff war with china europeans are suffering the collateral damage the consultancy firm and young says the conflict between the
superpowers and the domestic slowdown it's produced is the main reason behind an 80 percent drop in chinese yuan flowing into your opinion countries. the decline in chinese investment in europe since the trade tensions developed is plain to see in the 1st half of 2018 a total of $113.00 deals equated to $15300000000.00 of investment but the most recent figures show $81.00 deals during the 1st half of this year brought in just $2400000000.00. the slowing of chinese investment is perhaps most obvious scene european economic powerhouse germany china hasn't made a single acquisition there this year and has invested just half a $1000000000.00 compared with $10000000000.00 during 2018. the fronted rush that sort chinese investors raced to snap up european innovators such as report 6 company kuka appears to be grinding to a halt. but
german politicians have long been a long time as takeover spree across europe in recent years and have indeed blocked deals i asked you w.'s financial correspondent unadvisable is this drop in chinese investment may be good news from european perspective well actually i wouldn't specially call it good news from the european a prospective because clearly what china chinese money is doing as well it's opening up the huge value chinese market for german companies and that has done a lot of good for a german corpus as well but clearly it was quite high on the agenda of european and german politicians to actually get a level playing field in place so that not state subsidized chinese companies can come over and spend an awful lot of money and the german companies cannot have the same sort of market openness in china as well but bottom line is that what ernst
and young is saying as well that chinese companies despite that they haven't invested a lot in the 1st half of this year they stand ready if there are look for to investment opportunities they would be willing to actually splash out their money especially in the automotive field when it comes to electrification but also for like big names in the consumer space there is still a lot of interest so there is still is a need for joy needs money. yes actually if you look at opinion polls so chinese money is obviously it's a 2 edged sword because some are saying they just take away the technology and they bring it to china but if you look at the evidences that those companies still have chinese money in their books they actually did a lot back then because chinese investors and vesting a lot of money and r. and d.
and they want to grow the business and as i was saying earlier they are opening up a huge chinese market for those companies to invest that in and out of us but in frankfurt thank you. 3 and now to some of the other global business stories making news around the world on homes they have poured will remain closed until 6 o'clock tomorrow morning authorities the council all flights for monday as thousands of protesters by the main terminal operations being seriously disrupted by the demonstration against the policies of the beijing government. saudi arabia state energy from morocco was opposed to 12 percent drop in profits in its 1st ever off your earnings report the disclosures fueling renewed speculation the company is preparing for an overseas stock listing. of $50000.00 vonne notes the venezuelan central bank's most recent attempts to curb the
galloping devaluation of money and shortage of cash amid international sanctions against the socialist madeira government the value of the balibo continues to plummet. this caracas restaurant sells pastries called empanada has like all their business except electronic payments but there are still many customers who prefer paying in cash and us dollars. having it every day people ask whether we take cash reserve but we obviously don't accept large bills we're going to call our families cheap. dollars are accepted just about everywhere in caracas even at this market. this trader doesn't want to be filmed at 1st it looks like the eggs are being paid for with the ball of our national currency but it turns out to be u.s. dollars. there's more to this trend than just the collapse of venezuela's
currencies says economist wrong. look. at the moment there are large amounts of dollars pesos another currency is in circulation and we've been through hyperinflation the same time the central bank has allowed the kasha talks in circulation to lose their value very quickly without adjusting the banknotes accordingly. it's hard to say how dollars enter venezuela since the central bank no longer provides information on foreign exchange receipts but the greenback is clearly being circulated here. that. it would get. some venezuelan send remittances home in us dollars stimulation be important market there are no shortages in this caracas super market but the imports here are 2 or 3 times more expensive than those in europe or in the u.s.
. some stores only sell imports. are luxury imports shops can be found almost everywhere. but on a hike you know not in the end a whole lot of people don't earn dollars so it's hard to pay in dollars. so much happens under the table including the use of the dollar means a lot that's not legally money. i'm still paid in dollars and that everything i want to buy sold in dollars. that's it for me and the business team. just have a good look ug local markets right now. i'm
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