Equatorial Guinea Touts Economy and Reforms at World Economic Forum (WEF) on Africa

MALABO, EQUATORIAL GUINEA – EQS – September 9th,
2019 – The Government of Equatorial Guinea,
represented by the Ministry of Economy, Finance and Planning (http://bit.ly/2lJ4Mqo),
has concluded a successful mission at the 28th World Economic Forum (WEF) on
Africa, which was held last week in Cape Town, South Africa. H.E. Minister
Cesar Mba Abogo led a team of officials that joined more than 1,500 regional
and global leaders to discuss how innovation, cooperation, growth and stability
can help drive a sustainable future for Africa. He also touted favorable
economic indicators in Equatorial Guinea and ongoing efforts to strengthen
regional trade and stabilize Central Africa ‘ s currency, the CFA.

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” Equatorial Guinea ‘ s presence at the
World Economic Forum, provided a great opportunity to advance our country ‘ s economic interests,
engaging investors and strategic development partners, ” the Minister said.

 

” The macro-economic indicators for Equatorial
Guinea and the wider CEMAC region look very positive thanks to a stable oil
price and major fiscal adjustments that have improved our ability to mobilize
resources, ” added the Minister. ” We are creating value
for our citizens that is of huge financial benefit for us. Equatorial Guinea is
collecting more taxes and royalties that is showing a full recovery since the
oil price collapse of 2014. ”

 

At
WEF Africa, the Minister outlined the country ‘ s roadmap to
accomplish the Fourth Industrial Revolution. He also touted the success of the
three investment conferences being hosted in Equatorial Guinea this year, as
well as the improving ease of doing business in the country and historic
efforts to increase the availability of accurate and up-to-date statistics on
the country and its economy. The Minister also discussed the importance of
Equatorial Guinea ‘ s membership in OPEC, whose historic oil
production cuts have been credited with stabilizing oil prices and returning
the industry to a new phase of investment.

 

” We cannot overstate the enormous value that
belonging to OPEC has for Equatorial Guinea, ” the Minister said. ” For countries like
ours which depend on oil revenues to fuel economic growth, it is vital that we
have a voice in organizations that enable us to have a global impact and help
us control our own destiny. ”

 

“With
the signing of the AfCFTA and the need to develop a stronger middle class and
move people out of poverty, Equatorial Guinea is going to be more competitive,
and more resourceful than ever, ” the Minister concluded. ” When we collaborate
with our investors, we will create more jobs for our citizens and accomplish
our goal of building a country where everyone benefits from the growth we
create together.”

 

The
Co-Chairs of the 2019 World Economic on Africa are Ellen Agler, Chief Executive
Officer, The END Fund, USA; Jeremy Farrar, Director, Wellcome Trust, United
Kingdom; Arancha Gonzalez Laya, Executive Director, International Trade Centre
(ITC), Geneva; Andr é Hoffmann, Vice-Chairman, Roche, Switzerland;
Alex Liu, Managing Partner and Chairman, A. T. Kearney, USA; and Sipho M.
Pityana, Chairman, AngloGold Ashanti, South Africa.

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