BCEAO releases $ 6 billion for West African economies

The BCEAO has just made a liquidity injection of 3350 billion FCFA ($ 6 billion) at a fixed rate of 2% in favor of several banks of the UMOA. A total of 87 financial institutions participated in the operation. The Central Bank of West African States (BCEAO) made a further injection of liquidity to its member countries last week. In total, 3350 billion FCFA ($ 6 billion) were disbursed by the institution.

During the auction on September 14, 87 banks in the sub-region obtained an injection of liquidity at a fixed rate of 2%. With more than 1000 billion FCFA ($ 1.8 billion), it is the Ivory Coast which obtained the most important financing, ie 31% of the funds injected.

It is followed by Senegal with more than 580 billion FCFA ($ 1 billion), Mali with 466 billion FCFA (835 million $), Benin with 434.5 billion FCFA (777 million $) and Burkina Faso with 318 billion FCFA. ($ 569 million). Niger with 241.6 billion FCFA ($ 432 million), Togo with 219 billion FCFA (…

Twitter CEO Jack Dorsey signs deal with Elliott Fund to save his place

Thanks to an investment from the Silver Lake fund, Jack Dorsey implemented a $ 2 billion share buyback program. A committee is responsible for assessing governance. Since the arrival of the Elliott fund in the capital of the social network, he played his post at the head of the group he founded. Jack Dorsey has just saved his place after an agreement reached on Monday thanks to the intervention of investment company Silver Lake.
 

Silver Lake will invest $ 1 billion in the company. This money, along with an equivalent amount injected by Twitter, will allow the social network to launch a $ 2 billion share buy-back program. The agreement also provides that the three seats to be filled on the Twitter board of directors will be allocated to an administrator appointed by Elliott, to an official of Silverlake, while the third is left open to an "independent candidate" who will have to have a expertise in artificial intelligence.

A committee to assess the governance of Twitter

The deal also calls for the creation of a "temporary committee," made up of five members, whose mission will be to assess how Twitter is run. He will also have to assess Jack Dorsey's succession plan and make recommendations to improve the governance of the company. Twitter is also committed to two important objectives for 2020: to grow its monetizable audience by 20% over one year and to increase its share of the advertising market.

The investment fund, which makes no secret of its desire to replace Jack Dorsey, criticizes him in particular for spreading himself between his two roles as CEO. The billionaire heads Twitter, but also Square, a company that offers payment solutions to SMEs.

Jack Dorsey co-founded Square in 2010, two years after being fired from Twitter. He was finally reinstated there in 2015, but did not give up his shares in the payment company, against the advice of the company's board of directors.

Jack Dorsey gives up on Africa

Elliott also looked down on his plans to go to work from Africa part of the year from 2020.

If there is nothing to indicate that Jack Dorsey will decrease his involvement in Square, he has shelved his plans for departure in Africa. The Twitter boss said on Thursday at a conference at Morgan Stanley bank headquarters that he "needs to reassess his plans", referring to the coronavirus epidemic and "everything else happening."