Why Twitter’s CEO Just Backed Out On Africa

CBx Vibe:Diamonds from Sierra Leone” Kanye West

By Justice Allen

  • Jack Dorsey is no longer going to set up shop in Africa over coronavirus concerns
  • As of 2018, 26% of Black American’s used Twitter

Twitter (TWTR +1.83%) CEO Jack Dorsey & his job appear to be in good standing after walking back his comments about moving to Africa. The announcement came in the midst of pressure from an aggressive new investment group, Elliott Management, who seemed dead set on getting Dorsey  out of there. They’ve acquired a roughly 4% stake in Twitter, and have recently been speaking out against Dorsey, who claims his decision about Africa was made because of concerns around the coronavirus.

Why This Matters: Moving to Africa would have not only presented Twitter with ample business opportunities, but it could have contributed to the proliferation of global black cultures. Although his coronavirus concerns are valid, we can’t ignore the Deebo in this particular situation by Elliott Management, led by Paul Singer. The company is out here snatching chains (metaphorically speaking of course), and although it appears Dorsey has survived their latest attempts, it’s definitely a strong “W” for the new investors.

Africa is an epicenter for innovation in business and tech

Even though Dorsey’s announcement to move to Africa raised a few eyebrows, it did speak to a larger phenomenon that isn’t mentioned enough: Africa is an epicenter for innovation in business and tech. However, this is Twitter we’re talking about, which is a platform that hosts a massive, engaged community of African American users who are quite literally dictating American pop culture. A 2018 report showed that more than a quarter of Black people in the U.S. use Twitter, compared to just 24% and 20% for White and Hispanic people, respectively.

What’s Next: Despite abandoning his move to Africa, Jack Dorsey did mention that he’s considering a remote workforce for the company. Especially because San Francisco’s rent has been skyrocketing for several years now, so it definitely makes sense to set up shop elsewhere. While these comments were made before he was faced with a full-fledged assault, it can’t hurt to hope that Dorsey can find some way to increase Twitter’s presence in Africa.

CBx Vibe:Diamonds from Sierra Leone” Kanye West

CONTRIBUTOR

Justice Allen

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