World. Like news that protect the climate news to Green Energy Solutions and resource to should. Decrease interactive content teaching the next generation of mental touch i should. Be using all channels available to inspire people to take action and more determined to build something here for the next generation gloomily as the environment series of global 3000. And online. If you feel the threat of further division is growing amid on rest that left dozens dead critics of president as being fear of more rest in a country that is on the verge of the poor think of all the great forms im looking for more investments. All the perennial bowing and. At the show the europeans seem to come out. Of the seattle flyboys anything but. This is business africa. As well if european Prime Minister who was awarded the Nobel Peace Prize this year is planning reforms to revitalize the economy is goal is to promote growth and create new jobs but he needs to attract investors to do that many foreigners are glad to set up shop in the east african country because salaries are so cheap that but ethiopian workers. Come from east africa to finish off the growing process in germany and then theyll be sold worldwide plant breeders pair. 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 from stock got 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 only. Post the proof of course. Was if this was not. In the past 5 years its still really crucial to be. Sure in the coming year since were really really. Interested in dumps the Huge Division in the ninetys. One of the most Important Industries in this deal. Stuff we can country is tech saws 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 own an ethiopian to the country on the horn of africa has a long textile tradition but the workers in the Textile Factory say the low salary they get 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. 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. So what can be done to convince International Investors that ethiopia remains a good place to invest their money earlier today i spoke to looks hartman hes one of the founders of our going cultural business fruit box africa and an investor with a next extensive experience in africa i asked him what he thinks should be the highest priority for the Ethiopian 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 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 with the situation right now is it deterring investors at the moment i dont think so because you know when to 2 several periods of of the 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 on the african continent with 110115 1000000 people. So its an extremely big country secondly people are extremely nice and welcoming so certainly this is also why oh why oh why people go there yeah thats that must be it and for sure a coffee i guess but also one reason for investors of course is cheap labor thats a good thing for investors but not necessarily for your peon workers do you see the middle ground that can be reached there needs to be a development 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 fight against it so there needs to be a development here the problem is mostly in city areas where the labors 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. 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 here that thats fine for me thats up with thank you very much thank you. And to some of the other business stories making headlines today German Chemicals company long says is selling off its stake in the South African chromium or mines 74 percent stake goes to South African Company 12 hours in line says sold its chromium Chemicals Division to chinas brother and to process the mine is a major source of materials for that business. British lawmaker peter hain has told a South African judicial inquiry that corruption under 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 influence over zuma and said Companies Like h. S. B. C. Should now help to recover the loot they helped loan. 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 those prodemocracy demonstrators paralyze 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 maker signed 2 massive deals was worth a combined 30000000000. 00 u. S. 1. 01 airline is replacing its superjumbo a 380. 00 fleet with the more nimble a 358 rival boeing also announced fresh orders even for its controversial and currently grounded 737 marks. Some had come to see the planes are those had come to sell them it was European Space giant airbus that led the way with some head spinning deals the fast with emirates announced at a he still e a range press conference. The emirates will sign a Purchase Agreement for a 58. 00 of us. X. There you piece today. This is from the order worth of 16000000000. 00 at the list price including of course royce trent that will you it be agent orange it was quickly followed with another order for 120. 00 planes by air arabia we are very pleased. And happy to put an order and today there were some and left in the pan for trouble dr a boeing 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 city to partnership with all the shit it. Was for the ship was on and we are very happy to. Our commitment to this ecologically friendly and economically efficient is. A small but much needed vote of confidence in the company and the 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 euros and a new factory outside berlin socalled gigafactory could bring thousands of jobs a region low in manufacturing jobs bottom legally binding agreements have yet to be signed and tesla found. Have a bit of a reputation when he put his money where his mouth is. The announcement came as a total surprise you know Award Ceremony in berlin. A news matter of fact. Weve decided to put. The gigafactory. The plan is to build it in the small town of queen hided just east of berlin itll be teslas new europe factory where the s. U. V. Model y. And batteries will be built it will create at least 7000 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 the hippie that iran is pulling us a bad i think the German Industries really know 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 for me and the Business Team here and. Check out our website thats w dot com slash business go heres a quick look at Global Markets at this. Scene around us and be glad that you still can. If you other cities seem so close to the pattern rule of. Predecessor vibe industrialization traffic and crowds are tourists but it may not survive climate change. Under threat. In 60 minutes. W n. What secrets lie behind small. Discover new adventures in 360 degrees. And explore this amazing World Heritage sites. W World Heritage 363 get cleaned up now. 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 if hell pull a deal before the captors but theyre still far apart and dont see eye to eye on a number of issues. And living with the times will take you to the foster home thats taking a different approach to learning. Now take a closer look at this link
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