tv Business Deutsche Welle April 9, 2019 7:15pm-7:31pm CEST
british prime minister theresa may is holding talks with presidents of my car and paris to try to delay bridges are still for the earlier me the same place a chance i'm going. to washington when he was up next in business africa south africa's first step fully digital brand is empowering the poor addressing apartheid era injustice that story coming right out where. to get you all the news by heading to dover dot com iraq and violence see you at the top of the. take it personally. with a little wonderful people once to make the game so special. for all true for. more than football on line. dictionary to continue.
to. believe those are still. make groups with the good morning stephanie. chat with musicians from around the world. every week on g.w. . the global economy is running out of steam. good africa stock picking up some of the slack. in south africa's first fully digital bank is trying to pull people out of poverty. and trek is paradise and you react as
a. the tourists also a lot of. been physical and let's do business the global economy is facing a delicate moment a warning from the international monetary fund its cut its global growth forecast for this year from three point five to three point three percent economists at the i.m.f. and mainly wide about the u.s. economy because of trade tensions also though with a growth outlook for the eurozone. and there's africa the world bank says growth is sluggish despite so much investment in the continent. the world bank says the economy in sub-saharan africa has grown only two point three percent in twenty eighteen that's down from two point five percent the year before we can make growth remains below population growth for the fourth consecutive year but a rebound is expected long term trends for the three largest subsaharan economies
are upwards growth in nigeria is projected to rise from one point nine percent to twenty thousand to two point four percent in two thousand and twenty one south africa is forecast to recover from zero point eight percent to one point eight percent in two thousand and twenty one and i'm gola is expected to come out of recession to see growth approaching three percent smaller countries are expected to see even stronger growth from four point one percent to twenty eighteen to almost five percent in two thousand and twenty one among the reasons for some nations sluggish growth natural disasters like floods and droughts but also uncertain commodity prices and domestic problems domestic. in the. uncertainties including poorly man each date. fiscal deficits that are rising an inflation that is still crippling in number of
countries are taking a toll on african economies but more importantly fragile it is holding back african countries growth. weak institutions corruption and violence cost africa's economy over half a percentage point says the world bank but there is also light at the end of the tunnel. the digital revolution can only look new pathways for inclusive growth and job creation in africa in fact our most recent africa's poorest finds that to been a fifth of the ditch economy i significance for sub-saharan africa it can add nearly two percentage point of g.d.p. per year or deduce both vicki nearly by one percentage point the year that is huge huge opportunities maybe but also challenges as the world bank notes to harness the power of the digital revolution africa needs to greatly improve its infrastructure
. almost a billion euros is unbanked in unbanked funds flow through the south african economy a lot of people don't have accounts that makes it tricky doing business time is the country's first fully digital lend it reckons it can help out those at the bottom of the ladder. sophia should bonnie is one of an estimated eleven million unbanked south africans as a domestic worker she goes about her daily life using coins and notes for all transactions. no i don't have it. because it's too complicated in south africa i only speak english but it's not safe because it's dangerous to a neutral but us a little way. with a quarter of the country's adult population without a bank account analysts argue that already high levels of financial illiteracy are
being compounded through an inability to manage household budgets plan for the future or access credit. to the food got a so are banned because of. legacy. banks. we're in touch why aren't the bends we use to here in force of pacific on black people. new banking player time will focus primarily on south africans without an account offering all physical services at two of the country's biggest retailers. because we have a cross between buy and box and we believe that evolution of the way o. opening back accounts or custom is very good on the five minutes. we come to do so that's a well for us the fact that customers get on board that seamlessly without using any paper or symbols of african bread id number
a big bump it's. where traditional banks need a proof of address letter of employment and some savings time clients don't even need capital to open an account and can load as little as twenty grand onto their cards once registered charging no monthly fees and on average thirty percent cheaper for transactions than. countries for existing major banks time is one of several low cost banks set to hit the market this year. called from a woman who know we only like it because it was so simple to open it simple other banks i've tried to use before are too difficult and they need many things so this one i like. open less than six months ago time has already attracted ninety thousand customers. a stiff night t.v. . of
a two hour guy in johannesburg full of the vet philip do you reckon this digital lenda has the potential to change people's lives either it or its new competition hopes it does seem that technology offers the kind of cheap banking that south africa has been missing a highly regulated banking sector has been very stable but it's excluded sciri many people because of the costs and the lack of reach and either time or maybe one of its other new competitors can certainly break that mold and what are people saying would this sort of thing mean less crime if people switched from cash to digital payments and is certainly the hope drum sets of robberies are a major problem in south africa we have street markings on a regular basis cash it's very dangerous to deal with and so much of it many people source to it some way between something like time digital perhaps a tentative but point bateman's cell phone based a means directly fiber of all science the hope is that one of these technologies
will finally get the kind of critical mass that means that ordinary people don't have to carry that much cash with them and will be less prone to that direct almost privately east just briefly how how much is the banking sector in general changing there in south africa where you are. very rapidly and quite enormously we've seen block change technology moves in both with established players and new players we have new second take companies literally springing up all over the place trying to roll out a minute making as many of them based maybe of them using blocks chain kind of technologies have we seen but it's going to increasingly accepted it's only used by a small number of family doctors of course but we've seen those kind of cryptocurrency these come in and things are changing very rapidly indeed so that the best in johannesburg thank you very much. money transfers from migrants to their home countries have reached record the world bank says a total of five hundred thirty billion dollars last year and it expects an increase
this year transfers one of the key incomes of many developing nations. key player in the branch but the eleven percent fee it charges trends for criticism. and back to our story on sluggish growth in africa we can now go to our correspondent good to see there has been a lot of talk about africa leap frogging making a jump in economic development by harnessing technological innovation something we've been talking about all these programs what's the reality on the ground the. african countries. through technology.
many of the young people who get. to be able. to. impart africa what about the economies that are seemingly getting it right all set to grow substantially would that make up for the lower global growth that we've heard today from the international monetary fund. well there is the hope and the anticipation by the issue is that they're asked to challenge these economies and some of these challenges being resolved and one of the. challenges are not resolved in mainz that. we have in the review which. would then. show up that may not actually so yes there are potential to take on hope to show the
growth rates the challenges still remain and then i'm afraid we will not be able to have them contributes as i wanted to contribute as i can see there for us now after correspondent on african and global growth thank you. for taking landscapes waterfalls jungle nigeria is a hike is paradise and i mean association of travel agents reckons the tourism industry could even overtake the country's all important oil say the one day that sounds like a long hike. adventure seekers are climbing the top of the hill in the nigerian capital of. their new trails marked out new signposts no directions anywhere to be seen the government hasn't capitalized on the potential of hiking tourism just yet. unlike some of the guys here who have turned their hobby into a business want.
to see if. it promotes. to say which the one. in the process of you get from differing. economists say the government has neglected tourism as a source of income despite the country's rich offerings from markets to festivals beaches to mountains and even monkey sanctuaries. some even suggest that if properly harnessed tourism could earn the country more revenue than oil production .
every journey begins with the first step and every language the first word i would include nico using germany to run your. business why not learn a little. too fast it's simple online on your mobile and free. t w z e learning course. german made easy. there's there's d.w. news africa coming out in the next fifteen minutes bringing investment about stoking resentments in growing numbers of chinese in zambia we look at the influence on business on politics also coming out i'm a believer that. my country and their software.