The Central Bank of West African States (BCEAO) has decided to conduct negotiations with e-money issuing companies with a view to reducing transaction costs and encouraging people to make greater use of digital means of payment, to better limit contact and travel in this time of pandemic

it was announced Saturday from an official source. In a statement, the BCEAO decided to "supply" banks with banknotes in sufficient quantity and quality, in order to allow them to ensure a satisfactory operation of automated banking machines (ABMs). The BCEAO wishes to set up, with the banking system, an adapted framework to support companies affected by the consequences of the COVID-19 pandemic and who are experiencing difficulties in repaying the loans granted to them. "The BCEAO will ask banks to grant deferrals of fees Appropriate measures, in particular for SMEs," the same source added. The BCEAO is the common issuing institution of the Member States of the West African Monetary Union (WAMU).   The WAMU is characterized by the recognition of the same monetary unit, the Franc of the African Financial Community (FCFA), whose issue is entrusted to the BCEAO. WAMU currently includes Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.