Your links to exceptions stories and discussions can you and will come student news after coming program tonight from one gentleman from the news of these events and while its a damn good comes the traffic come join us on facebook at d. F. W. Africa. In ethiopia the threat of further division is growing that left dozens dead critics of president. More rest in a country that is on the verge of a. Punch up at the show the european. Anything but for the. Business africa. As well if european Prime Minister who was awarded the Nobel Peace Prize this year is planning reforms to revitalize the economy his goal is to promote growth and create new jobs but he needs to attract investors to do that. Shop in the east african country because cheap that but ethiopian workers. These come from east africa to finish off the growing process in germany and then theyll be sold worldwide plant breeders. Are investing in a new production site after setting up shop in uganda and kenya are now expanding to ethiopia because they say ethiopia is just right it has the perfect climate low salaries and its developing its infrastructure. Its not only businessmen that feel that way other investors are finding that ethiopia is just right for them as well direct Foreign Investment in ethiopia has increased in recent years in some sectors its above the average for Subsaharan Africa ethiopia is finally catching up with its neighbors who have benefited from direct investment for a long time. The Ethiopian Government wants to make Foreign Investors feel welcome the state Investment Commission promises to do more. The ruling party in jason the possible use of course was the us it was if this was not trying to shift in the past 5 years the speed we need to build all night was much too little use those with rulers please hire 100. 00 for you to ration in the ninetys. One of the most Important Industries in just east african country is textiles here in this factory in the capital addis ababa theyre producing clothes for the European Market german wholesalers like hugo and k i k have their products sown in medio via to the country on the horn of africa has a long textile tradition but the workers in the Textile Factory say the low salary de gette is not enough to live on. I mean i would need to earn twice as much to pay my rent and take care of my familys needs and yet let me do. On prices there are going up faster than pay. Salaries in ethiopia are usually around 50 u. S. Dollars per month thats less than bangladesh in egypt and its much less than in china where workers get paid around 200. 00 u. S. Dollars a month investors want to make the most of that while they can. The countrys economy is growing but people have been responding to the governments reforms with protests there is a power struggle underway and there have been violent clashes like those in october which left many dead and injured. There i dont do that. So it can be done to convince International Investors that ethiopia remains a good place to invest their money earlier today i spoke to miss hoffman hes one of the founders cultural business fruit box africa and an investor with the next extensive experience in africa i asked him what he thinks should be the highest priority for the if you opium. Government right now. Security. Foreign exchange and stability certainly those 3 items are extremely important for Foreign Investors access to foreign currency is extremely tight there has been no progress in on this side security everyone has followed the news. They must act on this do you have confidence that the government will get things under control its very hard to say because all the issues are extremely tough. To solve and in short period of time because people are are waiting and are pushing a lot so its very hard to foresee how quick the government can console that situation right now is it deterring investors at the moment i dont think so because when 2 to several periods of of difficulties of Security Issues and the ones now are not are not worse than what we have seen in the past certainly we all regret that and it shouldnt go on like that what do investors in general like about ethiopia. If he appears the 2nd largest country in the african continent with 11115000000 people so its an extremely big country secondly people are extremely nice and welcoming so certainly this is also why why why people go there yeah thats that must be it and for sure coffee i guess but also one reason for investors of course is cheap labor thats a good thing for investors but not necessarily for european workers do you see the middle ground that can be reached there needs to be a development if you cant be because also the time is different than 15 years ago social media is reporting so people know that they are cheap labor and. And fight against it so there needs to be a development here the problem is mostly in city areas where the laborers that are paid are perhaps in line with the medium in ethiopia but the prices are very high so its especially textile Companies Need to need to look out and adapt their policies here would you favor a minimum wage. Law im ok with it i dont have any problem with it that we pay actually 10 percent over what our neighbor is paying we will not go above that. For obvious reasons because we dont want to steal him his employees but yeah thats fine for me thats up of thank you very much thank you. And now to some of the other business stories making headlines today German Chemicals company lank sess is selling off its stake in a South African chromium or mind this 74 percent stake goes to South African Company 12 hours in line says sold its chromium Chemicals Division to chinas Brother Enterprises the mine is a major source of materials for that business. British lawmaker peter hain has told a South African judicial inquiry that corruption on the former president jacob zuma was enabled by International Banks companies and governments the inquiry is looking especially into the geishas the prominent gupta business family had captured the states via their influence over zuma and said Companies Like h. S. B. C. Should now help to recover the loot they helped loan the. Embattled south African Airways is resuming flights to 6 african destinations including lagos and across canceling some domestic flights in the next 2 days the state owned allen has canceled hundreds of flights since a cabin staff strike over wages began on friday it says the stoppage is costing it 15000000. 00 rand thats 3300000. 00 per day. Now several Asian Airlines have canceled flights to hong kong as months of civil unrest grows increasingly violent and disruptive carriers blamed a drop in demand as customers fear for their safety and all this prodemocracy demonstrators paralyzed hong kong airport for days causing hundreds of flights to be canceled the crisis and the ongoing us china trade will have tipped the Financial Hub into recession for the 1st time in a decade. Good news from the dubai asho the european plane make assigns 2 massive deals was worth a combined says he 1000000000 u. S. 1. 01 airline is replacing its superjumbo a 380. 00 fleet with the more than bought a 315 rival boeing also announced fresh orders even for its controversial and currently grounded 737 max. Some had come to see the planes are those had come to sell them it was european air space giant airbus that led the way with some head spinning deals the 1st with emirates announced at a he still arranged press conference. The emirates will sign a Purchase Agreement for a 50 airbus. X. There you piece today. This one in the order worth of 16000000000. 00 at the list price including of course royce there and that will you it be didnt it was quickly followed with another order for 120. 00 planes by air arabia we are very pleased. Owners unhappy to court in order and today there were some and left in the pan for trouble drive a boeing they picked up some crumbs signing a deal that was cetane of it 737 max planes sold to sun express. Its a great day for us we are in the Search Engine partnership with all. Of that partnership was wrong and we are very happy to. Our commitment to this ecologically friendly and economically efficient. A small but much needed vote of confidence in the company under a model after 2 fatal crashes in the space of months so it grounded warroad white. The American Electric car maker plans to invest up to 4000000000 heroes and a new factory outside. The socalled gigafactory could bring thousands of jobs to a region low in manufacturing jobs are legally binding agreements have yet to be signed and. Lost have a bit of reputation when he put his money where his mouth is. Denouncement came as a total surprise during an awards ceremony in berlin on musk announced a news matter of fact. Weve decided to put. The Gigafactory Europe in the area. The plan is to build it in the small town of clean hider just east of pearl in it will be teslas new europe factory where the s. U. V. Model y. And batteries will be built it will create at least 7000. 00 jobs and the factory will be built inside 2 years otherwise not much is known at the moment. The new competition right in german car makers backyard might also inspire more progress in german electro mobility and hit me that iran is pulling us a bad i think the German Industries really. Strongly in this thing and keep your alert. On friday fox falcon announced it will be investing 60000000000 euros in electro mobility and digitize ation. And thats it from me and the business team. Check out our website thats due to. Go heres a quick look at global markets. Theres no. Manager today. You know the banks. And to watch the language of the bank. Speaking the truth global news that matters. For minds. To the euro max you tube channel. Good morning stuart. With exclusively. To see concerning. Your own. Curious minds. Do it yourself networkers lead subscribers dont miss out. This is state of the news africa coming up in the next 15 minutes what all south sudans chances of peace its need is embrace and appeal or deal before the cameras but theyre still far apart and dont see eye to eye on a number of issues
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