We think. A must see concerning heart culture to europe. Should be curious minds. Do it yourself networkers. Some subscribers dont miss out. As to eskom managers are arrested for corruption we are. Actually the way forward to solve africas Energy Crisis one nigerian stands up bits off grid Power Production instead and gets a 20000000. 00 boost from international bankers. And french president obama travels to west africa to discuss the future of the safer currency and its survival should it. Welcome to business africa your update on todays african and Global Business news here on. Welcome. South African Police have arrested 2 former executive embattled power utility eskom charged with fraud corruption and Money Laundering in connection with new power plants that are supposed to alleviate the countrys electricity problems south africas grid nearly collapsed in 2008 and eskom has had to enforce rolling blackouts ever since in a bid to relieve pressure these calls chaos for the country and the economy the contracts involved in the allegations are worth around 50000000 dollars. But africa has the worlds slowest electrification rates in an unstable Power Supplies constantly hampering businesses all over the continent Many National grid unstable and badly maintained like the one in south africa we just heard about to get around this off quit solutions are increasingly popular way to get well power to the people. Solar energy firm has now raised 20000000. 00 from several Venture Capital firms to our local merchants when souls benefits from heightened investor interest in africa focused off grid and Renewable Energy startups seeking to plug all those electricity the problem is biggest in nigeria africas most populous country almost 7. 7000000 people that have no access to electricity congo and ethiopia are also struggling to supply their populations is a little less severe in uganda and siddharth while most of Great Companies offer the promise of electrifying homes when sols focuses solely on powering local markets and mansions earlier i spoke to other mall a designer hes the founder and c. E. O. Of rentals and i asked him why well we havent precluded going to private customers a bunch away but we thought that business were a good place to start from early because its all its a lesser credit risk theyre using our systems for productive use and show its income generating for them to use around sorceress them and are such you know that theres a direct benefit between their income and our Service Provision so for us it was just a way to mitigate the credit risk. And tell us what is the advantage of an off grid system compared to a National Grade especially for african economies well its a its a question of resiliency by having off grid systems that are distributed and decentralized you know 11. 00 part of the grid breaking dozens and dozens are not our for everybody its meant to be a backup in a complements to the grid and so its a way of adding resiliency to the op the overall system what weve seen is that you know were really building many small grids and connecting them together in complement of National Grid and so its a question of resiliency and in the african situation its also lower cost because. The solar based systems were using. How difficult was it for you to raise the money. It was difficult you know we were at work during a fundraiser catering to many different interests around the many different types of investors want to see different types of metrics and different types of developments and so no we had to engage everybody and speak in their own language you know the process took us a bit over a year and we thought it would take a lot less and i think also renewables. And at the scale of which were operating is relatively new for africa its really new for nigeria and such we had to get the investors comfortable with the country and the concept a way that we would hope we would need to do again for future congresses and now youve got the funding what are the next steps well you know plans. Were going to roll out more micro utilities but were going to go deeper and in terms of building more more infrastructure in these different locations but then beyond Energy Provision we have now built several tools to offer non energy Value Added Services for the merchants what we know weve got to understand the merchants we serve very well terms of you know how their businesses run you know whats formalized by the whats informal where the inefficiencies are and were Building Tools to help bring their businesses that are essentially off light on light and so thats going to be our focus Going Forward both more micro utilities but also by building on top of the energy so if were not Energy Services to the middle im a lot as you know founder and c. E. O. Of francis thank you very much. French president manuel macaws this week expected to signal a possible rethink on the french backed sea of funk used by west and Central African states ivory coast is the regions biggest economy and its president Alassane Ouattara has been a strong defender of the euro pagans currency but he has come under pressure from regional politicians to challenge the arrangements he said to meet mr buck all in. Shoppers at this market in abidjan the biggest city in the ivory coast pace in c f a for all. The currency was introduced in 1905 and is used in 14 different african nations today. It was initially pegged to the french for all but today it is paid to the euro which gives its stability but some economists say this robs the c. F. A. Front of the flexibility it needs on the global economy. For too long this is if we can only deal commercially with a single country france so this parity causes problems all d serious economists have carried out research and that shows that what we need is a Flexible Exchange rate set to the shop to fix it. There are frequent protests against the c. F. A. Throng in west african nations many believe that the connection with the euro is a relic of africas colonial past there is concern that the countries who use it dont have enough control over Monetary Policy but the sentiment is not universal. There is no pride in saying i have my own currency if this currency in reality is worthless on the international market. Thats what i recommend less populism less passion. Almost all soft in my view we need to have total Financial Independence leave the euro completely so we can then come out with a new currency. That new currency would be called the eco. Thats the name being used by the heads of states of members of the african continental Free Trade Agreement which was signed early this summer now all they have to do is convince france that the old currency is in need of reform. And now to some of us of the worlds Business News abby n. B. A. Has scored a major victory in europes top cold has ruled its an Online Service and not a Real Estate Agent in disguise the french tourism and Hotel Association a father legal complaint contending that evian be should be considered an agent and thus be subject to frances strict housing laws. The ruling of europes top court is a big win for air b. N. B. The verdict means the company can continue operating as it currently does in france. The ruling states that air b. N. B. Is just a platform connecting guests and hosts for short Term Accommodation and is merely a socalled Information SocietyService Rather than a rental Property Agent that operates online Information Society service is legal terminology for something that provides Online Services like an online shop. Yes youll get into a 3 service whose purpose is to use an electronic platform to potential lodgers in contact with potential landlords offering short Term Accommodation. Supplied as an Information Society service i sit on only the priest this was a city. The french hotel and Tourism Association argue that air b. N. B. Should have to comply with the same laws as Traditional Hotels and short term rental Property Owners these pay a variety of taxes and must ensure that their properties are up to code a ruling in favor of the association would have put air b. And b. s business in france on the entire European Union at risk. The complaint also put air b. N. B. Sponsorship deal with the International Olympic committee at risk it plans to promote its properties during the 2024 olympics which will be held in powerless. The news was not so good for another large sharing economy a german court has ruled that u. S. Based rights hailing Service Chemical offer rides using rental rented to cost started using rental cars as a way of getting around the prohibition on private car owners taking fast for passengers is a victory for taxi drivers here in germany who brought the case says it will take steps to keep its business going into. Boeings production stop for its 737 is affecting hundreds of suppliers making critical parts of the play though boeing has said it would not lay off any of its 12000. 00 employees smallest supplies may be forced to cut jobs. Dozens of fuselages waiting for wings but grounded indefinitely this is the headquarters of spirit aero systems in wichita kansas spirits biggest customers boeing spirit supplies not only the fuselages but most of the parts for the 737 max aircraft its wichitas largest employer providing more than 10000. 00 jobs but many wonder for how long. Could be way off could be for. I also dont know it say about it if it all goes it doesnt want to do it. Boeings woes are also being felt here at French Companies suffer cagr oop it coproduces engines for the 7370. 00 max saf process it wants to maintain a minimal production level for boeing rather than stopping outright British Company negative another supplier said boeings production halt is hitting its profits by about 1000000. 00 a month. I think hauling production has a pretty major downside that disrupts the whole supply chain that puts labor and a terrible spot it causes. Real sloss of the economies of scale that this airplane has the 737 max has been grounded since march after 2 crashes in the space of 5 months killed 346 people in indonesia and ethiopia the grounding has cost boeing more than 9000000000. 00 so far. Regulators told the Company Last Week that it had an Unrealistic Expectations for getting the plane back in. The service the lack of clarity over a timetable has not only hit boeing hard but also its suppliers around the globe. And thats its form me and the business that says you can use africa the 1st in world what next and after this quick update. Im secure in the volume or not and in the end there is a me you are not allowed to stay here and more we will send you back. Are you familiar with this. With the smugglers what alliances. Whats your story ready. I mean when i was a women especially in victims of violence. Take part and send us your story we are trying always to understand this new culture. Are not a very little or nothing you want to become citizens. In for migrants your platform for reliable information. This is news africa coming up in the next 15 minutes it started with protests against increases in the price of bread and to the ousting of the dictator we look at saddams uprising one year on and off the hopes of the protesters has been fulfilled. Thats reaching for the sky well introduce you to the woman in gaza whos doing something no other woman in the country has done before. Running round in circles which turned a spotlight on the theater for