down and. monica jones has that story much more coming up on you know your business don't forget to go to our web site you have your dot com for all the latest news and information around the clock thank you for watching. on sunday people for the information provided to. the fans they want to express g.w. on facebook and twitter and up to date in touch follow us. just listen this is the sound of time tossing this forest the size of 25 football fields are lost every minute adding to greenhouse gases but what is the sound of

a tree not for the sound of biodiversity tourism community development food and water. the united nations development program is listening and working with communities to protect forests for the future we want if you're hearing what we're hearing find out more. it's a 1st rate cut since 2016 turkish president. wanted a rate cut and he got it then you took your central bank chief cut interest rates a whopping $4.00 percentage points. also coming up uganda social media tax was supposed to increase revenues instead it's weighing on businesses and cuts down investments we go live to come home or. welcome to business africa want to.

good to have you with us a big change in turkey where the central bank reduce the interest rates by 4.25 points today investors and analysts have been watching with keen interest because just over 2 weeks ago turkish president wretch of type add one fired the central bank chief because he had refused to follow his demands for lower rates some say at a one has a point the interest rate is currently or was set at a whopping 24 percent but interference like that is a dangerous game investors see a truly independent central bank as vital for a stable economy. well for more on that i'm joined now by craig allen senior market analyst at or wonder in london good to have you with us craig what can we just say that add one practically demanded a great car to even sacked the previous central bank chief because he wouldn't comply how problematic is this kind of political interference in monetary policy

well it's extremely problematic is the reason why in central banks are independent if the politicians or effectively dictating monetary policy the naturally you are busy going see attempts by certain politicians to try and drive short term political benefits at the expense of longer term economic growth potentially risking recessions of course it's in every politician's best interest so out of the 0 percent interest rates that stimulate the economy the reason why we don't have those levels of interest rates on a permanent basis is because it does so the seas for boring and therefore future problems so naturally when you're seeing issues like this and you're seeing president overstepping the line demanding lower interest rates sucking governors and replacing with people who will comply you are not fully goes the board about longer term consequences is this kind of behavior this kind of political influence something that is typical for emerging markets. organists necessarily say typical

of emerging markets are very much so typical probably more so of populist leaders and while those tend to be seen more in the emerging market world over the years because of the political instability that because of the volatility we can see within the economies and particularly within the exchange rates as well we are seeing that now spread of course into the western world the more developed markets and that's where you'll start to see players like donald trump have a more active say in what the central bank is doing making demands of his own making question people question where the line is between governments and central banks and ultimately when it's the president in the case of the u.s. . nominates and high as they had the central bank there's always going to be that question of just how much the central bank is doing the work of the president how much they are acting independently right so what signal does that kind of interference and gave us some examples here and especially with today's rates in

turkey what signal does this send to potential investors. well it sends the signal the the long term impacts of the economy is probably is likely to be negative when we take this particular example today we have seen the to actually were prior to the days announcement actually take quite beating and what that does is when you see sharp depreciations in the currency that tends to drive higher levels of inflation and we know from plenty of examples in the past just how economically damaging that can be and how it can spiral out of control and how difficult it is to actually get a handle on again now you look at today you are turkey and yes the currency actually housing drops off that much and relatively flat on the day that may be a signal that what they've done today was priced in even though it did exceed expectations present maybe send the right now for a little small the thinking that he was maybe right in this policy move but if this does continue then i think we can see the appreciations of the currency and much more damage economically ok very interesting back craik alan there from one day in

london thank you so much. and for the 1st time the you case royal academy of engineering 2900 african prize for engineering innovation worth 25000 pounds has been awarded to a south african is an engine of a down queuing times for patients with chronic conditions collecting medication a simple idea that will improve the lives of thousands of patients. in many parts of africa getting speedy access to medical care is a luxury too often the nearest hospital is several hours drive away and getting there can be a problem. then there are lengthy waiting periods especially hard on chronically ill patients who require special medication from hospital pharmacies this is what happened to new teary in 2014 the electrical engineer became sick with your parka loss' every time you have to wait 2 hours for medicine so he decided to do something about it. i was trained to build solutions and

product the idea was to then say can we build a product that is patient centric that speaks to us 1st as patients. are tearing to all of the regulators requirements and all of the framework of the department of health wants to exist to improve access to care. the solution the engineer devised is called pella books the pharmacist deposits the medicine in a smart locker the patient then gets a pin on their cell phone to open the locker and they can pick up the medication whenever suits them all without waiting. boxes ok it's not stressful for instance when i get a message on my phone i can go and fetch it the day after even if i have work to do i can go and get my medication i don't need to wait in long queues at the clinic anymore so just come in get my medication and leave but in that moment i'm happy with that the time to get the cat. who cheery one the royal academy of engineering

student has a 1000 africa prize a big incentive he wants to use the prize money to improve the locker and build more equipment was very wanting for us it was very inspiring seeing that actually the work that we do is on a global level it can compete it can scale it has multiple country applications. there was this was an endorsement of saying we see. there are other companies in the dispenser market but who tear is a war it could give him a competitive edge. increasing tax revenue is a big challenge for many african nations uganda is learning this the hard way last year's introduction of a social media tax cost an outcry from government critics and rights groups one year on even some of the staunchest supporters of the tax on no longer convinced for many company owners in uganda like this take make it connectivity is key. to

her business in the capital kampala sells its wares exclusively via online orders and most customers contact her using whatsapp on facebook but since last july she's faced the threat of being put out of business. the government introduced a new tax on using networking sites and mobile money transactions which it labelled over the top or the services. the government had expected the move to raise tax revenue by almost $68000000.00 euros so far however it's raised just $11000000.00 that's 17 percent of the amount hopeful. the number of internet users in uganda has dropped by 30 percent since the tax was introduced and plans to invest in revenues to improve rural broadband infrastructure may have to be shelved . of a more i'm joined on the line now by julia. he's standing by for his income joining us looks like that social media tax is not exactly successful instead it seems to

have backfired certainly when it comes to investment in infrastructure can the tax still be saved there in the picture does it start saved regardless of the episodes. and it wasn't just years. because the government has not shown any sign of going back against the uganda or even your searches this is the stitch run duck but he has recently reported that all the less than 2 out of 10 users of the truck now going by this because it might on the meter of a vicious if saying that this doctor and social media cunts of sunshine live anywhere translates into shooting for structure development here doesn't officially entered public life means like virtual president what's it called in the p.m.'s idea continues to use facebook or tap to judge other social media platforms without pen detects by those attacks and quite unpopular the government doesn't seem ready for this. right i mean that the taxes in west out the way it was supposed to we

know just briefly junius it was introduced to boost tax revenue discover meant in uganda have any alternatives to that are you the government seems to have a few in the falklands the tax goody has suggested that there is a need to started a social media talks itself is need to a very small research in order to get these people to predict tactics regarding the social media should be able to protect so many could advise me but also important to note that this is immediate fact was a challenge should you start this sent home another controversial plan on mobile money to abortions were used abused many young men you got as you knows how bank accounts but how mobile phone accounts so the government others wanted to have. then to protect you those generals with the end of the girlfriend will have to leave it here but thank you so much for your time today as mugabo in kampala. more

than half of afghans live on less than $1.00 and $1.00 reason for them or one way of them for them to get out of poverty is that many families are putting their children to work. for 10 year old cameron work begins at dawn every morning instead of going to school he comes here to make bricks his father told him it was the only way his family could survive. my father wasn't able to earn enough money so i had to leave school and start working with him. because of that i couldn't go to classes anymore. that. he's one of an estimated $2000000.00 child laborers in afghanistan years of conflict in mismanagement of age and the emigration of much needed skilled labor has left the country's economy in tatters a dollar a day is what we have to make

a person would need to have basic satisfy their basic needs and it turns out unfortunately more than half the population lives on less than a dollar. earlier this week the world bank released a report highlighting the factors that led the country to post the lowest growth rate of all south asian economies in 2018 the political instability security issues and drives all played a role. and that is a business africa here on the w. for me and the team and glenn sacks keeping his company.

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a team of british researchers who take a more optimistic view. while it is not always a good question but it's much much better than it was a hot this really getting better. by global 3000 special reports. starts august 19th on. this is the deputy. africa coming up in the next 15 minutes is ethiopia in prices developments in the country suggests prime minister r.b.s. mates reform agenda may be backfiring. and for months off to 2 sides to a stage of mozambique 1600000 people are at risk of food insecurity at least until september.