tv Business Deutsche Welle April 8, 2019 8:15pm-8:31pm CEST
that is indeed very great news you're watching the debate is up next in business africa an energy crisis persists in southern africa or in south africa or rather i should say just weeks before an election there. that story and a whole lot more coming up with ben facility in just a minute and don't forget you can get all the latest news and information around the clock by heading to our web site that's d.w. dot com i'm a little rock n roll and see tomorrow same time same place. you are such a busy cursor. but a. dangerous. floods and droughts climate change become the main driver of mass migration you could write any kind of peace not if you want them probably most of them to come to. the clinic this starts
here thirtieth on t w. four. and on demand. pass language courses. video and audio. media center. a south african court rules for the extradition of an ex finance minister from mozambique to the us where he is wanted on charges related to a shoot billion dollars debt scandal. zimbabwe takes another tack in getting its white farmers back by enticing them with a little compensation. and the worst blackouts in years plunged south africa into
darkness just weeks before an election. let's do business it's one of the biggest financial scandals to hit the poor african state of mozambique billions of dollars worth of loans allegedly signed off by a former finance minister manual chang a south african court has paved the way for his extradition to the u.s. to face trial which could end up implicating other senior members of mozambique spooling party. mozambique's former finance minister has been in detention since december twenty nine arrested during a stopover in south africa but a johannesburg court has decided that man will chime can be extradited to the united states the u.s. is just one jurisdiction seeking to prosecute him on fraud and money laundering charges his home country of mozambique has a warrant out to the charges relate to two billion dollars loan to government agencies from banks like credit suisse and russia is meeting people bank the money
was ostensibly for new tuna fishing boats and a coastal protection system but the government has said they were used to buy military vessels instead and millions of the original luna simply disappeared was in bits and seventeen million dollars landed in china's own pocket to make matters worse the government failed to disclose these loans neither to parliament nor the international monetary fund donor funding was cut as a result private investors pulled their money too that set off a financial crisis for the already poor country and the reckoning is far from over where chang is to face charges is still unclear the u.s. and mozambique are both waiting for the decision that can only be made by south africa's justice minister of. zimbabwe is to start paying compensation to white farmers who lost their land under former president robert mugabe's land reforms president to m.s.n. money and god was set aside seventeen and a half. as for the payouts the funds intended for farmers in financial distress
land reform policies or some four and a half thousand white farmers addicted from their land which was distributed to some three hundred thousand black families well the scheme sold to redress colonial era imbalances but it also spots the country's worst economic crisis it was once considered africa's breadbasket now unemployment according to some figures is as high as ninety percent the man in the house is graham rave originally from zimbabwe he came to zambia in two thousand and one after being driven out of his home countries part of the government's controversial land reform scheme the policy involves seizing land from white farmers and redistributing it to their black counterparts now it is about be in government is hoping to encourage some of those exiled farmers to come back by offering them compensation i think it's ludicrous to to go back you know i would love to go back home as home and that i would love to
go back to my own farm i would love to go back and redevelop it for my guy but i need money to do that and i haven't got anywhere with will to go and start again in zimbabwe zimbabwe has earmarked over seventeen million dollars to compensate former farmers if every quite far mr to their land were to be granted compensation they get about four thousand dollars each they have until the end of april to apply the money supposed to compensate farmers for the improvements they made to the land that could include laying elec christie networks or building stables it's not meant to pay for the loss of the land itself zimbabwe's commercial farming union has welcomed the move as an acknowledgement of the hardship white farmers endured but it may not be enough to encourage dispossessed farmers like graham ray to come home . privileged most fun here he joins us from harare now thousands of
white farmers have long left zimbabwe as we've seen will they qualify for compensation government has not really indicated if. there is a solid to plan to bring back their farmers and also to say that those that left the country will qualify for. and also to come back to the country on the land where that was taken from them so. there it is not quite clear with these farmers that are now outside zimbabwe that are now in neighboring countries will qualify for compensation or for for them to be brought back to the land yes there may be given but if you look at the figure that the government his put on the table today like this statement that came out from the finance minister in the agriculture
minister saying that they've set aside fifty three million are tedious dollars it's insignificant was this money is not enough to compensate the farmers because if you read to the u.s. dollar today it comes up more broadly to a board just eighteen million and you're looking at four thousand farmers that needs to be compensated so just briefly is the whole scheme realistic at all. speaking to some of the farmers that lost land they are actually taking it is a drop in the ocean because they're saying that it may be government sure all propaganda sure to try and lure international support and to try and do window address to say that they are trying to do something to redress what happened to the white commission farmers so yeah it may not be significant to say
ok we'll have to leave it there privileged thank you very much for getting your take on the story. now if a warning pops up on your cell phone in your south african the lights could go out power cuts become a regular frustration and a national election is around the corner governments promise to ease the situation but experts warn it could get worse before it gets better. no business is immune to south africa's power outages even those dealing with the dead need electricity. so i you need to upgrade we're going to be a large scale rolling power outages have returned to the country they're aimed at preventing a complete national blackout load shedding as it's known is leaving businesses and households in the dark for up to six hours at a time. with the ultimate profit. on the generator so. it's
a critical need in sensitive businesses like this one this can not be cute yeah. and if i don't keep my forty's. i do it as it is electricians are struggling to keep up with orders. all my customers are in a panic trying to get generators from me and how ever the suppliers can only supply me with generators in a month or two it is really affecting customers. the outages are proving profitable for manufacturers of electrical equipment. orders for installations and rentals are rising rapidly as these companies work around the clock to meet demand in an industry worth an estimated one billion euros per year. i think we probably would be looking at anywhere between thirty to forty percent increase in sales what we have seen over the past few weeks it's a significant increase in petitions in terms of or does in terms of course wolf
this is. baby coping and this growth could continue as state power utility eskom battles to keep the lights on with its network of aging and poorly maintained coal fired power stations so we've just been parsed ten days of the worst power shedding through red and so african economy primarily by poor coal . overstuffing if you truly have over thirty thousand people excess as well as government failures for the last twenty years far as i can see this is going to carry on for at least another five years because they need to build new coal mines . like this funeral home the vast majority of small businesses are dependent on electricity for owners the prospect of waiting that long is a disastrous one. city kid on for morning is. it might be.
and not just his business is going to cape town correspondent allison get on the phone now. probably not via skype because there are blackouts right now as well and that's causing problems. can you hear me first of all yes i can you tell me how frustrating is the situation for people working there people like you was well your you're working there as a journalist but also companies like like the ones we saw to take it there for example it must be an extremely frustrating and awful situation in some situations . it is extremely frustrating definitely also because a lot of time some of those warnings about the power doesn't go out actually still on now but that's also it's also the kind of insecurity you never kind of know where the car will be on know when the power will be off and it's easy to see all of this which is that that called the fortitude to buy a generator even if they can find one and if they are available they just
consequence can buy any and you know the restaurants cafes of freezers and that's great just go on from that goes to waste. to all kinds of different sectors our definition yes suffering from this can i can i put one more thing where we're talking about one of africa's key economies the one that stunted right now as far as growth figures go and in aid of household spending and the best man both of which are tricky when the power is out yes no definite i mean here as well from foreign investors is actually now saying that stuff exists in south africa now because this is just too big of a risk and on top of that because as the power utility they need money to exist in buying. setting up to power plants we also see that there's a price hike in electricity and that's not good for investment that of course also not good for the consumer and i think it will probably gets worse not just because they're the dishonest not the best deal for another future but also when just
coming up here so eskom has the warning today like the risk of very high that the power will be switched off again this week such that africa is very unhappy and that we have elections to be just an exactly as long as a day keep the candles and a thank you very much. and just briefly the world bank has slashed its growth focused to sub-saharan africa this year to two point eight percent down from three point three africa post the world bank's biannual report on african economies released today cited a volatile global economy amid rising trade tensions as a reason for the cut its mystic challenges in sub-saharan africa's biggest economies like oh production area associated to the downgrade is joining us.
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