2 2. Its 8 years since that Ethiopian Airlines jet crashed killing all on board family members gathered for a Memorial Service at the site of the crash a tragedy compounded by war take some relatives described as being way too little compensation. Digital lenders take on the Traditional Banks to cash in on south africas growing popularity online payments. And take me to electronic heaven one does said stop a nationwide recycling system for waste. If you bring their computers facts of life. I made for us all and lets do Business Today marks the 1st anniversary of the crash of Ethiopian Airlines flight 302 a year ago 157 passengers on a boeing 737 max plane bound for nairobi had lost their lives after a Flight Control system proof fatally flawed monday the o. P. s Aircraft Accident Investigation bureau released a report saying that not the airlines or the pilots but the boeing planes software caused the crash leading to a grounding of the boeing 737 max that is still in effect. Still in mourning one year after the crash these people who lost relatives and friends traveled from france to address ababa ethiopia u. S. Aircraft manufacturer boeing has pledged about 150000. 00 for each victim to little many say now the families are suing boeing in court they accuse the aircraft manufacturer of neglecting safety. We were kissing each of them on the all 1st that buoying cussed me. Out not a 7th of all. For most of our audience we have made this a little 20. 8 kids were going to continue with a mediation process and were going to continue with the case the scene according to the ethiopian governments interim report on the 737. 00 max crash found systematic design flaws in the plane for example the automatic control system was faulty so that the aircraft was steered towards the ground the reason for the crash since the accident the 737. 00 max machines have been grounded causing boeing a loss of nearly 4000000000. 00 the company is currently working on getting the planes recertified but new problems keep cropping up most recently with the wiring in spite of the problems boeing expects the 737. 00 max to be allowed to take off again in the middle of this year. If you want more detail coverage on boeing the fate of its 737 max and the role of u. S. Aviation regulate the f. A. A. Wed like to encourage me to go to a website thats the dot com slash business and youll find all the background you could possibly want on this topic. South africa is the confidence banking hub its also the largest or the target rather of a new assault by digital glendas and theyre proving popular time bank t y m e which stands for take your money everywhere calls itself the countrys 1st fully digital bank the fees are lower than the Financial Institutions instead of id a fingerprint suffices and young South Africans are very open minded towards new technologies. Lets bring in alice funk in cape town how successful are these new digital led disastrously proving in your opinion well they actually started quite strong as you look at time bank for example and that target young people at all sort of lower income markets on the 1st day they recorded over half a 1000000 in transactions and 2 weeks back to you had 80000 customers cover your bank another financial digital lender and theyre targeting boarded up high income markets they have about same amount of customers still for a few thousands but they have recorded it so far as 66000000 euros in deposits so does definitely get there and there are definite making a mark here and shaking up the Banking Industry yes it is competition on the same or what are the true Traditional Banks talking about it. Well the Traditional Banks have been trying to target mainly the lower income markets because the us does a lot of people here that have been complaining about bank fees so van fees are very expensive and thats why these digital lenders are now saying like look we dont have branches we dont have brick and mortar building so we can actually keep those fees quite low and theyre also saying like look you convenience so you know go to a supermarket speak and pay transact and deposit your money so thats also something that actually people are liking here at convenience part and as you say its also they have less documents if you if you go here to a Traditional Bank you often in december you slip to open a Bank Accounts and a lot of South Africans are working in the Informal Sector and dont have that so at the time i actually am going to get we need to go and see how these Traditional Banks that response theyve been trying to target the markets but these banks seem to just do much better job now south africa is seen as a test market could we see these the delenda spread all over africa. Definitely i think think south africa for africa itself if you look at a lot of african countries theyve done a lot more money so far so people have more well what while thats the transect with that they say with that and thats you that africa a lot of people dont go to to a building project building up a bank in africa so i think those definitely going to flee add to that success of kind of digital Technical Solutions to get more African People to bank and to be financial include it and also for them to to plan their lives thats because in the end it also means they can develop businesses they can save for school fees so theres definitely importance to to have these options menu for the low income markets and whats interesting is that theyre also aiming to be much more than just banks these digital lenders yes no definitely definitely discovery banks for example says they are a behavior changer what they are doing is that theyre saying ok if you are saving a lot the Interest Rate you get is actually higher so city hope to kind of creates a saving mentality in the inside africa and a time bank for example as i sit the kiosks are in that big retail giants here because you can market mainly and you can actually if you transact and deposit then you step back you can also earn points to to go shopping so that actually are incentives that are important for people and brought to our customers and as for the credit for us in cape town thank you very much. Around the globe investors a still wary of the yesterdays shock trading session the coronavirus and the steep drop in Oil Prices Remain the big concern for investors oprah says are up by around 8 percent today with russia now not excluding negotiations with other Oil Producers a virus led production cuts through to lower demand stock markets in africa are a mixed bag after yesterdays rout song Global Equity markets south africas Johannesburg Stock Exchange clawed back just over 2 percent in the nigerian Stock Exchange continued its slide closing just shy of 5 percent down european markets also struggled with both germanys dax londons footsie exchange losing ground as europe tries to prevent a further spread of the virus or dodge a bank says its dispersing its stuff to different locations after a frank based interactive the coronavirus at the European Central bank one person has also been diagnosed with the virus and 100 of their colleagues are working from home as a precaution. Saudi arabia says it will boost Oil Production next month by 3000000. 00 barrels its an attempt to force fellow oil producer russia back to the table on output cuts due to low demand you know its meant initially choose the rebound in oil prices which plunged monday after riyadh 1st announced plans to oversupply the market it hopes that by pushing prices down it could force russia to agree to output curbs recently agreed upon by the opec nations. After some of the other stories making news by jarius finance minister has announced a slashing of the bunch of the in the face of punching oil prices currently oil is trading around 20. 00 below what the energy exporting nation needs to finance its budget just how much nigeria will be forced to cut will be determined later this week. And south africas state Power Company eskom will expand. And power cant stop the discovering faults in the countrys only Nuclear Power plant the problem in the facility affects the plants turbine system in a tweet eskom assured local residents that the plant is safe. The smoke that rises from electronic waste dumps in africa is toxic and yet so much of it that 7 light is valuable rwanda is committing itself to green growth setting up a National Recycling system for a waste if your computer just gave up the ghost you could soon find it being resold in a completely different fall. Every Rwandan School child will have a laptop soon thanks to an Education Policy Initiative but what happens to all that electronic waste when it stops working d peach of the 450 pupils in this school in budget sarah really does have a laptop for class not all of those are new many are recycled older models which break down get repaired. The whole country is committed to recycling damaged and discarded Electronic Devices in hospitals schools government offices and companies picked up by employees of interNational Recycling company and virus. Its recycled under the stored that accompanies plant in budget sara one of the biggest of its kind in all of africa who want to have. Horses to. Help our system for end of 20 Waste Management to stop one thats thats our main. Our main target and we want rhonda to be a model for for other countries not so many countries have. This kind of facility. And Virus ServiceBusiness Model is to sell the refurbished equipment more than 50 people working here through and it is seen as the i. T. Innovation hub in east africa thats why the sector is so attractive to the Younger Generation the government wants to make sure the countryside doesnt get clogged up with abandon the waste as a result of the boom so its imposed regulations. As it was set up to be hobbled. Technomage c ds. Technology because we want to see our countries developing but we impact in terms of involvement is. Back in school the laptops are given to pupils for free. Since you started using it. Many things has changed this year that have started to knowing that he did this source of information is and is not on the day code did a pretty click and no longer imagine life without them and they know these laptops one goes away so could be recycled so more students can benefit to. Doing business with in. Literature invites us to see people in particular that i like to see some as the kids find strength growing up. Might. Get over you go on youtube. Is a human race destroying itself. Ruining the basic elements of our existence were using too much water and were killing looting. Is life. Going to go the other supplies will last forever but they wont. When the rain. Starts more 20th. This is africa coming up in the next 15 minutes bowing proud. But thats little consolation for one canyon family who want the jet make that compensate them for the loss of their sons life the way he used to help us all our hopes were in him that we looked up to him because when we told him all our problems he was always quick to send us some money he didnt want to see his parents suffer. And judgment day is nearing the ugandan warlord