Stopped or know. That. Women are striving to reform their islam. Traditional prejudices. September 24th. Living away of uncertainty the o. E. C. D. Says the bad times are here to stay for a while longer and from places like south africa will feel it more than others. Also on the show as Global Investors seek to diversify their supply chains away from asia africa down to profit. This is the the way of business im joined now them alone in berlin thank you very much for joining us. The organization for Economic Cooperation and development has softened earlier predictions of a deep decline in the worlds Gross Domestic Product saying it wont be as bad as expected although still significant but some countries stand to suffer worse than others like south africa fair Economic Hardship has said undertakers to the streets. Despite their cheer undertakers are striking amid the harsh reality of south africas Economic Hardship battered by the coronavirus and crippled by National Lockdowns growth is
And selfdetermination. I dont want anyone to tell me what the right where the headstock the most women are striving to reform there is always some traditional prejudices to. Start september 24th one g. W. Living away of uncertainty the o. E. C. D. Says the bad times are here to stay for a while longer and from places like south africa will feel it more than others. Also on the show as Global Investors seek to diversify their supply chains away from asia africa stand to profit. This would be the way of business im joined now the milan in berlin thank you very much for joining us. The organization for Economic Cooperation and development has softened earlier predictions of a deep decline in the worlds Gross Domestic Product saying it wont be as bad as expected although still significant but some countries stand to suffer worse than others like south africa up the air Economic Hardship has said undertakers to the streets. Despite their chief undertakers are striking amid the harsh reality
The shortages and for the cues. To kenya a leader in the world of mobile payments more than 70 percent of the population as a mobile cash account allowing them to withdraw or deposit money from their phone thats also helped kenyans to get quick and easy access to no news to tide them over until payday but there are drawbacks kenya has 49. 00 credit apps each offering micro loans of between 10. 00 and 400. 00 their initially charged at an Interest Rate of between 5 and 27 percent but that can easily saw to a daunting 150 percent if you fall behind with your payments and one behind seems to be something that happens more often to those holding a mobile account than all those just 2 percent of regular commercial banks customs default on their loans with mobile account cost to most its 18 percent meaning they need to take out more debt just to pay back their previous nouns and for more on that im joined now by joy to rein barrow who joins us in nairobi joy do tell us please how widespread
Please how widespread is the problem of getting into debt through taking out micro loans via any of those credit apps. To start with i think its important to just see that moss these borrowers of between the ages of 26 and 35 and maybe crossing into the early fortys as well and so we have about 6500000 more well girls in the country today and one of the challenges that wasnt obese is that theyre servicing multiple loans what they do is the downward several. Lending us and then have to service is loans because the wyly on and service the other by taking another loan and also of course the fact that the a high Interest Rates that the are not aware of because when they are signing up for these loans they dont really read through the entire agreement they just agree or click agree on the mobile phones and then have this money on the phones as well but what they forget is that this interest is is deducted out from so if you take 400. 00 the interest after and you probably have about 3 maybe
A deal to acquire Cloud Software provider hasha corp. At a premium to its 4. 9 billion market valuation could be reached within a matter of days, shares surging over 22 right now on that news p. Lets check ib bm shares. Initially, they dropped on the report but now just up about half a percent right now. Lets get to the border broader or markets because the bulls are charging ahead with about a 59 minutes left to trade. All of the major averages extending yesterdays gains. The dow is up 257 points and on pace for a fourth straight session of gains. The s p 500 up 61. 5 points right now, looking for its first back to back gain since last month, and the nasdaq is also trying for two up days in a row, looks as of now that it will clinch that. Earnings season, folks, is officially here, and helping at least in part to paint the session green. Speaking of earnings, investors giving the green light to General Motors after its report morning. Shares really accelerating right now by 5 after th