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 (…

Shell and IBM launch Oren, a new platform to accelerate the use of technology in mining

Multinationals Shell and IBM will introduce a multi-use platform for the global mining industry called Oren. Fully digital, it will provide companies with new methods of integrating technology into the development and exploitation of mines.

Shell and IBM launch Oren, a new platform to accelerate the use of technology in mining

The multinational IT company IBM and the oil and gas giant Shell have teamed up to launch Oren, a new platform for the mining industry. According to information relayed by several international media, it will offer mining companies digital solutions to improve the safety of employees in mines and the efficiency of operations.

Oren will facilitate the integration of automatic systems in mines, such as autonomous trucks, or remote operations centers. It will allow more efficient control of mine personnel, notably by using artificial intelligence. Software will also be devoted to environmental management in accordance with current requirements, as well as that of detailed reports on greenhouse gas emissions, on energy consumption or on the means enabling the rehabilitation of mining sites.

While the current health crisis has revealed the importance of a connected mine, capable of operating with a reduced human staff, this new tool appears to be a rather interesting solution. It can be used by giants in the sector as well as juniors who do not have the means necessary to individually install this type of infrastructure.

In Africa, Oren could notably be used to ensure the safety of employees, whose lives are very often endangered at present because of the depth of the mines.