CEMAC zone: recession could reach 6% according to BEAC

All the indicators are certainly not red. But most of the economic indicators in the six countries of the Economic and Monetary Community of Central Africa (CEMAC) are already found the Monetary Policy Committee (CPM) of the Bank of Central African States (BEAC) at the end of the second annual session on June 24, 2020 in Yaoundé.

Analyzing the situation in Central Africa, it emerges that in the short and medium terms, the CEMAC zone is affected by the health crisis and the fall in the prices of the main export products. "

"In the first half of 2020, the revival of productive activities was slowed down in the sub-region by the disruption of supply circuits for imported products as well as by the restrictive measures adopted by the various governments to contain the effects of the pandemic. Although it is premature for the moment to fully grasp the impact of COVID-19 on national economies, it is already anticipated during this first semester a drop in production as well as a det…

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."