tv Business Deutsche Welle July 3, 2019 8:15pm-8:31pm CEST
i suppose there's a clue. to the business of africa is up next with more well have lots of the top of the hour and of course as always the web site that's t w dot com under the. looks of it. good links to news from africa the more your link to exceptional stories and discussions from the news as easy as i want with safety deputed comes to my feet have joined us on facebook j w forgot.
to know that 77 percent of poppy are younger than $65.00. that's me and me and you. and you know what it's time all voices part. of the 77 percent we talk about the issue. this is where you cut. the 77 percent this weekend on d w. facebook's new digital currency libra is facing a backlash regulators from the u.s. and europe are rethink but the cross africa cryptocurrency experts say the advantages outweigh the wrists and ordinary citizens across the continent to profits. power sportswear maker nike finds out what happens when one of your
famous brand ambassadors goes rogue on your products because he thinks it's prices to. google's made in germany how a german family company became the key supplier of traditional clothing in west africa. his business africa and the. u.s. lawmakers have urged facebook to hold its cryptocurrency plans time to investigate the wrists poses to the global financial system regulators and europe also call for closer scrutiny meanwhile advocates say the facebook currency would be a boon for the millions of the so-called unbanked people across africa but concerns are also growing currency with the power that could develop could easily derail weak currencies across the continent and denies central banks control over monetary policy. introducing libor a new global currency designed for the digital world facebook has promised finance
for the future with its new crypto currency and i'm saying it's arrival mark zuckerberg said libra would empower billions of people even those without bank accounts will be able to send money around the world with these what's more facebook says libra will be what's called a stable coin meaning it will have none of the volatility associated with bitcoin and other crypto currencies it says it will ensure that by linking its value to other established global monetary systems major corporate players are already backing libra even if some of the world's financial leaders are not. the bank of england approaches liber with an open mind but not an open door. and now a group of u.s. lawmakers has written to facebook asking them to put their crypto currency plans on hold until congress can assess the risk it poses nevertheless facebook's plans to
disrupt the money continue to progress with libra expected to begin filling digital wallet in 2020. within the studio is chris cleverley an entrepreneur and c.e.o. of kemarre point he made it his mission to develop economic mechanisms that help ordinary people across the continent the continent and blocked change you say is quite important for that 1st of all if you take a look at liberal what is stronger the enabling factor for day to day uses all the dangers for local currencies well if you look about the very words you used earlier about the unbanked i think the most important thing right now is to make sure that those people have a way in the means with which to transact with each other at low interest rates interest rates can monitor about 30 percent for farmers in africa and also have the ability to cross borders overall it's a very important thing right now in africa to to have currencies lightly but
cryptocurrency is in general have many critics warning of that volatility that the lack of regulation taxation issues and cyber fraud how do you see that list because some of that is one of those image does cross border so cross border issue is very very important in terms of being able to try to transfer money between countries right now and about temps and all trade in africa is done between african countries leap is consistent that tax collection is about $2.00 fifths what it is in the rest of the world and you know with a digital currency and see what's actually going on especially looking at palmerston has twin is another one's guides look at being crossed or in terms of providing water services across border and libra in. very much going to be very open to countries governments to allow them to do that there is a lot of up to governments though and local currencies isn't libra sort of going to become a 2nd reserve currency and further destabilizing local currencies especially in
canonical we countries across a i think it's probably the other way round i mean i think the the country is going to suffer most potentially will be the ones who complain the most at moments they've got from you know you've got the euro you've got sterling you've got the dollar potentially it's another federal reserve currency that could actually in some way to stable that except for one big factor is balancing itself on fear it's within those countries well it's the labor is based on about ask it of currencies the currencies they choosing all of the big global currencies if anything they're probably going to boast of them and if you look at what the effects of been recently of things like you know financial crises once again we're back to conceive a easing is a christian the god is there going to be taking over for tension a for the european bank their big signings that we're looking for another potential struggle within the local current local currencies the o.e.c.d. countries rather than what has always been volatile african countries are always
very volatile and it's a lot easier to provide a stable currency than the digital realm than within the un current trends is that working with the moment do you see a similar backlash across africa and central bankers and governments against leave broad do that or do they like libra well if you look today today's the day which the african blocked conference is happening in uganda it's being run by kwame redundant his father is the prime minister of uganda so on imagines that in some currencies some countries are very much looking forward to having that kind of flexibility that digital currency fives but also the stability of the digital currency can provide the opposite cleverly thank you very much thank you. american sportswear brand nike has been dragged into america's culture wars after it was pressured to pull a special edition 4th of julys sneaker from stores the shoes featured an early
version of the united states flag from an era where slavery was commonplace conservative lawmakers claim it's a matter of political correctness going too far and they're making sure nike feels the backlash financially. this issue features a flag created during the american revolution former n.f.l. star and controversial nike poster boy colin kaepernick said he found the design commonly referred to as the betsy ross flag offensive because of its connection to an era of slavery and he asked for the shoes to be removed from sale so like he just did it after shipping the shoes to retailers in the company recalled them again some people supported the decision his people i mean died under that flag you know and were slaves under that flag so yeah i think it makes perfect sense and the flag has recently been used by some white supremacist groups now it's the turn of the american right wing to get really ticked off about nike arizona governor doug
jussi a republican who's been involved with far right so-called patriot groups released a flurry of tweets nike has decided that betsy ross is unworthy and has bowed to political correctness and historical revisionism. nike has made its decision and now we're making ours i've ordered the arizona commerce authority to withdraw all financial incentive for the company to look a 2 year. arizona's economy is doing just fine without nike we don't need to suck up to companies that denigrate our history. at least some of the limited edition shoes have already made their way into the market and with changing hands privately for hundreds and even thousands of dollars meanwhile it seems that some potential customers are voting with their feet. nigeria's president. will sign a deal to scrap trade tariffs among african countries are the upcoming summit nigeria has held off on joining the agreement after pressure from local unions and
businesses fearful it could make them less competitive in the african continental free trade area as it's called hopes the elimination of tariffs will help boost regional trade by 60 percent within 3 years africa's other economic i think. africa has already ratified the free trade deal at present only 16 percent of trade by african nations is with continental neighborhoods. if you haven't heard about african fashion made in germany well as a german family owned company that has indeed carved out a niche selling material for booze to western africa who was the africa version of the city's city gents suit made of damask the german bar company exports 2000000 meters of it per year to countries across africa. glowing colors shiny materials complex embroidery on the top down. of the festive go to live with it west african
muslim and the tailors in muses capital niamey can use up to 9 meters of material for this kind of traditional clothes were. good we measure the neck exactly it has to see will because that's where the embroidery goes if the neckline is too wide and doesn't sit right the entire government is ruined it doesn't matter how well you have so in the rest it's a waste it all depends on the nick pm i did do i don't know but fabric for booze comes from far afield even from the small german town of oh in saxony where the power company has been supplying african countries with textiles for booboos since the 1960 s. . known as to mask the fabric for them is moving from 2200 spools about a company's huge machines we've the myriad of threads into the final patent product . its money director says the material is very special.
to realize that while our status symbol here is the car in west africa it's the the outer clothing layer has to look great and fashionable look at this. this is so inert difficult finish for african goods. you can see the reflective shine on the material here. and when you grasp it it's non-slip this it has to hang in a certain way and it needs refining to a very high degree. and is bose representative in africa. he has a good eye for the latest fashions there as well as being the company's local troubleshooter. falling within from buyers the challenges include firstly the sweeping changes which can transform the political or customs situation from one
day to the next leaving you with goods held in port because new regulations have been imposed because that that. generates 40 percent of its sales with food to mask for africa where it's in demand in countries like mali senegal and nigeria. and that's it for me and the business africa team here in berlin for more business news analysis and background stories from around the world check out u.w. dot com. business. to. business our business about the news africa. next after this quick look. around much of this is life.
enter the conflict zone with tim sebastian germany's foreign go position coffee dear faces glace in the new and expanded focus group leader of the of the book are going to greece is very obvious for sure i'll go for your column but she thought she does she know it so good so called you need to close out some of the highly
controversial rest of the conflict. in 60 minutes. of. my in a puzzle is held up by a young it's not easy to go to another country you know nothing about the wife of i am going to give up because we can't stay on venezuela i'm not. that. costly global news that matters d.w. made for martin's. this is news africa coming up in the names 15 minutes the u.n. saying is the deadly attack on the migrant detention center in libya has all the hallmarks of a war crime dozens of people are dead and more than 100 others wounded after an airstrike on a center housing african migrants in tripoli humanitarian organizations have warned they are at risk so who's responsible for housing people that. and often video
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