Thursday, January 26, 2017

Equatorial Guinea To Host CEMAC Summit

The Republic of Equatorial Guinea will host the Summit of Heads of State and Government of the Economic Community of Central African States (CEMAC) in Djibloho, located in mainland Equatorial Guinea.

The President of Equatorial Guinea, H.E. Obiang Nguema Mbasogo, is currently the leader of CEMAC and has implemented successful reforms of the rules of operation and increased innovation.

Equatorial Guinea’s capital, Malabo, is currently the seat of CEMAC Parliament, which is the legal and political forum for the organization, whose mission is the promotion of free trade, the institution of a common African market, and development of the standard of living through economic stability and cooperation.

Equatorial Guinea became a full member state of CEMAC in 1983, joining Angola, Burundi, Cameroon, the Central African Republic, Chad, the Republic of Congo, the Democratic Republic of the Congo, Gabon, São Tomé and Príncipe, and Rwanda.

The Presidents of member states will gather in Equatorial Guinea to discuss further structural reforms to streamline projects, laws, and activities of the institution.

The Summit is expected to take place toward the end of 2017.

Wednesday, January 25, 2017

Equatorial Guinea Foreign Minister Mba Mokuy Prepares for AU Summit Presidency Candidacy

Equatorial Guinea’s Minister of Foreign Affairs and Cooperation, Agapito Mba Mokuy, is stressing the important of Pan-Africanism and intellectual empowerment of the youth as he prepares for the African Union (AU) Summit and his candidacy for President of the Au governing body.

The 28th Ordinary Summit of Heads of State and Government of the AU will convene on 30 January in Addis Ababa, Ethiopia.

Minister Mba Mokuy is currently in Ethiopia reviewing and analyzing the work of the 33rd Session of the Committee of Permanent Representatives of the AU.

The Republic of Equatorial Guinea has expressed support for the AU and Minister Mba Mokuy has highlighted his goals of providing more opportunities for young people throughout Africa as well as reducing emigration.

Equatorial Guinea has hosted the 25th Ordinary Session of the Executive Council of the AU in Malabo in 2014, which Minister Mba Mokuy led, along with two AU Summits.

The appointment of the Presidency will take place at the upcoming AU Summit.

Monday, January 23, 2017

Equatorial Guinea Vice President Supports Military, Inspects Troops in Bata

The Second Vice President of the Republic of Equatorial Guinea and Head of Defense and State Security, Teodoro Nguema Obiang Mangue, conducted an inspection of the country’s military forces in Bata over the weekend, as part of his duty to oversee and guide policy in regards to Equatorial Guinea’s police institutions, as well as defense and military forces, including the country’s ground, air and naval forces.

The inspection by the Vice President checked the level of the troop’s training, in addition to the success of the strategies and exercises designed by the Vice President himself.

The Vice President is a major supporter of the military and has called for increased pay and improved living conditions in order to further develops professionalism and capabilities.

Friday, January 20, 2017

Equatorial Guinea Remains Focal Point for International Cooperation and Business South-South and ACP Cooperation Offices To Open in West African Nation

The Republic of Equatorial Guinea continues to be a focal point for international and African cooperation and business as it prepares to welcome offices for South-South Cooperation and the African, Caribbean, and Pacific (ACP) Group in the country’s capital Malabo.

Equatorial Guinea has hosted these international organizations in the past.

The office is fully equipped for ACP and South-South Cooperation meetings and operations, including a local staff offered by the Government of Equatorial Guinea. The office is set to be the headquarters of the exchange of information and key solutions for the development of the ACP and South-South Cooperation.

The United Nations established South-South Cooperation to promote trade and collaboration between developing countries, mainly African, Asian, and South American countries.

Similarly, the ACP is focused on sustainable development and poverty reduction of its member states, which include 79 countries over three continents.

Equatorial Guinea will be formally confirmed as the location of the headquarters at the next ACP Council of Ministers in May.

Thursday, January 19, 2017

Equatorial Guinea Invests in National Companies as Priority of Horizon 2020 Development Program Goals

The Republic of Equatorial Guinea has invested heavily in national companies in order to achieve the goals set by the country’s Horizon 2020 development program.

The President of the Republic of Equatorial Guinea, HE Obiang Nguema Mbasogo, announced that the Government will financially support national companies and foreign firms who associate with them to further boost private sector economic development.

The President highlighted that “from the private sector, social welfare will reach all social strata.”

Equatorial Guinea is ideally situated for such an investment plan as it has resources such as security, a favorable investment environment, and strong institutions, which are lacking elsewhere in Africa.

Under the Horizon 2020 development program goals, Equatorial Guinea is working on the training and empowerment of the private sector in sectors such as mining, fisheries, tourism, agriculture, telecommunications, health, and financial services.

Further development under Horizon 2020 development program includes extensive urban planning, the development of the city of Luba for the oil industry, the hydroelectric plan on the Wele River, the power plant in Kogo, electrical equipment in Mbini, among others.

Recently, Equatorial Guinea hosted the first symposium on economic diversification at the world-class conference center in Sipopo. Authorities from Equatorial Guinea and delegates from financial institutions such as the International Monetary Fund, the World Bank, the Bank of the Central African States, and the African Development Bank participated in the conference.

Participants discussed plans to eliminate poverty, limit obstacles to private investment, improve the allocation of public spending, incentivize the development of human capital, and stimulate the productive private sector.

In addition, the President has hosted the first Asia-Equatorial Economic Forum in Dalian, China in April 2015. Representatives of more than 140 companies attended the Forum, and $2.5 billion in agreements were signed.

Wednesday, January 18, 2017

Equatorial Guinea Invests in Country’s Electricity Network, Aligned with Horizon 2020 Goals

The Republic of Equatorial Guinea has made significant investments to modernize the country’s electricity network, which is aligned with Equatorial Guinea’s Horizon 2020 goal to turn the country into an emerging state.

The Government signed an agreement with Sinohydro, a leading hydropower engineering and constructing company from the People’s Republic of China, two years ago to refurbish Equatorial Guinea’s electricity network in all cities and provide electricity to all homes.

The second phase of the plan, now complete, included light connection and electricity counters in all homes. The previous electricity conduction network will now be dismantled.

The modernization of Equatorial Guinea’s electricity network facilitates the control of subscribers, reducing the abuse of electric fluid use and minimizing the risk of fires.