Former President Clinton’s speech closes Sen. Coons’ conference on Africa

March 11th , 2014 → 9:43 am @

Posted by www.equatorialguineaonline.com – March 11th, 2014

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Former President Bill Clinton’s keynote address closed Senator Chris Coons’ third annual Opportunity: Africa conference Monday in Wilmington.

Clinton spoke for 40 minutes, discussing the Clinton Foundation’s work in Africa and the challenges that remain. He stressed the concept of greater global interdependence in the 21st century and the need for creative cooperation to a crowd of about 1,200.

 

Clinton pointed to Nelson Mandela as an example of the power of creative cooperation, citing his willingness to include some of most vocal opponents in his cabinet when he led South Africa.

“And all of you really should be that kind of agent of change,” said the former president. “If you are African, it is your continent and your country. If you’re not, you should be going there on an empowerment mission to work ourselves out of a job so that we’ll have partnerships that will endure.”

Clinton believes that this creative cooperation was instrumental in helping to fight the African AIDS epidemic which has seen the number of AIDS patients receiving treatment on the rise and AIDS deaths falling.

Clinton also argued average citizens have more impact than ever before through social media and the sharp rise in Non-government organizations.

Among the specific issues Clinton addressed was food production in Africa.

Clinton noted countries like China are purchasing African farm land to aid in their own food shortages. He said these large, automated farms not only bad for the topsoil, but also push out small African farmers triggering a whole host of social and economical problems that can have a global effect.

“We dare not let their topsoil be destroyed, it will affect you in Delaware,” said Clinton. “We dare not let the ethnic and religious and tribal conflicts overcome the staggering human potential. It will affect the young men and women from this state who join the military to serve our country.”

He noted an Anchor Farm experiment supported by the Clinton Foundation that helped farmers double crop yield and increase profits over 570 percent by providing basic equipment upgrades.

He also touched on improvements in health care in Africa and the efforts to protect wildlife there.

Clinton praised Senator Coons for setting up the conference as well as the crowd for attending.

“I admire the fact that you are here across every sector of society and the economy of this remarkable state,” said Clinton. “And the fact that you understand that Delaware and Africa are quite interdependent. I think Africa is worth believing in, it is an immensely rich and various continent.”

 

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Interview with the Prime Minister on the success of the Symposium on Economic Diversification

March 6th , 2014 → 3:25 pm @

posted by www.equatorialguineaonline.com – March 6th, 2014

Following the successful conclusion of the Symposium on Economic Diversification for the Government program, Horizon 2020, many members of the media were interested in knowing the reality of Equatorial Guinea. Ehate Tomi, Prime Minister of the Government for Administrative Coordination, spoke to reporters of World Investment News andwww.guineaecuatorialpress.com.

-According to a report of the International Monetary Fund, Equatorial Guinea is ranked as one of the best economies in 2013, particularly in the investment section. Could you tell us what the difference is between Equatorial Guinea and other African countries as an investment destination?

-”Well, there are many distinguishing features. We are in a sub-region where some countries were colonized by different powers. Some countries have a reduced ability to decide on their resources and programs they adopt. However, others have the willingness, capacity and power of autonomy to design programs and implement them, as in the case of Equatorial Guinea.”

-What specific actions will be undertaken to improve the business environment in Equatorial Guinea?

-”We can highlight the Single Window to facilitate administrative management for investors. Some laws involving significant support to those who want to invest will also change. We are going to clear the way, and facilitate investors’ easy access to Government programs. During the symposium, the Head of State announced the creation of a fund to support investment, and has set up a structure that will channel these aspects.”

-Equatorial Guinea’s image abroad has not always been positive, what steps is the Government taking to improve it?

-”The Government has several initiatives. People traveling to our country are praising the work that is being carried out, and we are open to the world, to let them see what we are doing. We are also registered with the Extractive Industries Transparency Initiative Association. The significant number of ambassadors accredited in our country, and those who are applying for this status, are an example that things are going well.”

-Spain and Equatorial Guinea share cultural and historical ties, what is the status of relations between the two nations?

-”Relationships are very good, Spain is classified as a country of privileged relations, with absolute respect of each of the parties.”

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Airline from Equatorial Guinea wants to fly to Cabo Verde and Sao Tome and Principe

February 27th , 2014 → 7:24 am @

Posted by www.equatorialguineaonline.com – February 27th, 2014

Ceiba Intercontinental, an airline based in Malabo, Equatorial Guinea, plans to start flying to Praia with a stopover in Sao Tomé, the capital of Sao Tome and Principe, the Cabo Verde secretary of state for Foreign Affairs said.

José Luís Rocha, who visited Equatorial Guinea recently, said that the move had yet to be confirmed and added that if it went ahead it would make it easier for people and goods to travel between the two countries, according to Cape Verdean newspaper A Semana.

The news follows a deal between the governments of Cabo Verde and Equatorial Guinea for exploration of air services between and beyond the two countries, which was signed in Praia on 16 June 2010 and was unanimously ratified Wednesday by Cabo Verde’s parliament.

Ceiba Intercontinental, which was founded in 2007, has a fleet made up of four ATR aircraft and two Boeing aircraft and its first intercontinental flight was carried out in October 2012, from Malabo to Madrid.

Since December of 2012 the airline has offered flights to the Ivory coast, Ghana, Cameroon, Togo, Benin, as well as to Brazil from its base at Santa Isabel de Malabo International Airport.

Equatorial Guinea is making efforts to stabilise its political situation in order to become a member of the Community of Portuguese-speaking Countries (CPLP). (macauhub)

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Luba Freeport adopts Sage ERP X3 through Synergy Group for improved efficiencies

February 27th , 2014 → 7:22 am @

Posted by www.equatorialguineaonline.com – February 27th, 2014

Synergy Group, a provider of complete business solutions and a solution provider to Sage ERP Africa, has been appointed by Luba Freeport, a joint venture between Lonrho and GE Petrol, the national oil company of Equatorial Guinea to manage the implementation of their Sage ERP X3 solution.

Sage ERP X3 provides the perfect fit for Luba Freeport, a deep-water gateway and logistics hub to West Africa. “We decided to implement Sage ERP X3 to improve efficiency and internal controls, particularly between the financial and operations department,” says Nick Hollowell, CFO of Luba Freeport.

Luba Freeport provides a strategic natural sheltered environment for the burgeoning oil and gas industries in the Gulf of Guinea. The port provides a range of services from accommodation and catering to the supply of oil industry chemicals, fuel and water. It is a ‘one-stop shop’ facility with vessels coming to the quay to refuel and load bulk chemicals, water and any other cargo without the need to change berths. This speeds up turnaround times, making port calls more efficient and more economical for both clients and shipping lines.

Hollowell continues: “Our current system was one-dimensional and only managed the financial aspects of the business. By selecting Sage ERP X3, we will have a combined solution that manages both the operations of the port as well as the financials in one online system. The new software will automate our existing processes resulting in better efficiency and accuracy. Sage Intelligence reporting, forming part of the Sage ERP X3 product, provides us with the opportunity to electronically measure operational activity and financial performance at the port, replacing the manual creation of KPI (key performance indicator) reports. The result is that information is now more accurate and reports are created much faster.

“Sage ERP X3 provides Luba Freeport with a customised solution, which is able to run all aspects of the business from port operations, to stock control and management of the financial system. The implementation will be done without requiring any specific additional software development,” says Ashley Regenass, CEO of the Synergy Group.

 

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A thorough situational analysis was completed and the most suitable approach was mapped to fully integrate Sage ERP X3 into Luba Freeport with the least amount of interruption as from June 2014. “Even though essential business processes will not change dramatically, the users will have to get used to the new system and its processes. As a result, progressive change management will be implemented until users are completely familiarised with the system and our team will be on site for user acceptance testing, user training and final data conversion,” says Regenass.

 

“Companies such as Luba Freeport have to strike a careful balance on a daily basis. They have to meet the demands of their customers and maintain high levels of satisfaction while keeping down costs. Sage ERP X3 is the perfect solution because it integrates data into all the systems, and in the end creates a powerful planning engine,” says Keith Fenner, Vice-President of Sales for Sage ERP Africa and Head of Sage Middle East.

Hollowell concludes: “Luba Freeport, being the gateway to West Africa, continuously needs to improve efficiencies in all departments and we now have an ERP system that will definitely support us in aligning all processes, providing us access to quality data at all times.”

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Ghana, Nigeria, Equatorial Guinea & Cote d’Ivoire agree to creation of a Sub-Regional Gas Company

February 11th , 2014 → 8:00 am @

Posted by www.equatorialguineaonline.com – February 11th, 2014

Ghana, Nigeria, Equatorial Guinea and Cote d’Ivoire have agreed to set up a Sub-Regional Gas Company to harness the potentials and deepen cooperation in the Energy Sector.

 

Read more >

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Equatorial Guinea commits to a co-investment fund of 500 billion FR CFA (eq. US $1 billion) to fuel the country’s economic diversification

February 3rd , 2014 → 6:15 am @

posted by www.equatorialguineaonline.com – February 3rd, 2014

Equatorial Guinea commits to a co-investment fund of 500 billion FR CFA (eq. US $1 billion) to fuel the country’s economic diversification

MALABO, Equatorial Guinea, February 3, 2014/African Press Organization (APO)/ – At the opening of “Emerging Equatorial Guinea” (http://www.emergingeg.com), the 2 days Symposium on the country economic diversification, the Equatoguinean government announced that it has committed to support foreign investments by allocating a Co-Investment Fund (CIF) of 500 Billion Francs CFA (eq. US $1 Billion).

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/eeg.png

“This Co-Investment Fund allocation testifies of the country’s commitment to lay the bases for economic diversification to ensure sustainable growth and to create more jobs in our country. We have been blessed by an incredible oil wealth, which we aim to use to build the foundations of an emerging country, via a strong plan for economic diversification and industrialization plan”, explains Marcelino Owono Edu, Equatorial Guinea’s Minister of Finance and Budgets.

In front of an assembly of over 700 entrepreneurs, investors and analysts, scholars and development agencies representatives, gathered for the occasion, the Equatoguinean Ministry of finance indicated that the fund aims at fuelling the state’s overall strategy to diversify the economy beyond oil and gas, on which its recent growth has been relying upon, to ensure a more balanced economic system, less vulnerable to global shifts in oil supply and demand.

During the next 3 years, the fund will support the country’s development around key economic sectors which have been identified for industrial development together with the international private sector: agriculture and animal ranching, fisheries, petrochemicals and mining, tourism and financial markets.

AGRICULTURE & RANCHING

Over 100,000 hectares of available arable land; warm climate with high value tropical plant species; timber industry, following example of Gabon

FISHING

Extensive EEZ and territorial waters packed with commercially valuable marine species

PETROCHEMICALS & MINING

Leading petroleum producer in the CEMAC region, with opportunities to further develop untapped oil and natural gas fields; geographical positioning and a deep-water port

TOURISM

Unspoiled land and marine-scapes, high quality existing infrastructure, favorable climate, and consistent political stability

FINANCIAL SERVICES

Political will to establish a friendly environment and encourage the growth of financial services and offer broad range of products and instruments to a range of international clients.

The Co-Investment Fund (CIF) has been affected over the next three years according to best growth potential reservoirs.

Download the table ‘STRATEGICAL SECTORS – CAPITAL SPENDING BREAKDOWN FOR 2014-2016′http://www.photos.apo-opa.com/plog-content/images/apo/photos/tableau.png

With the Co-Investment Fund announcement, the Emerging Equatorial Guinea Symposium ignites the investment boom. It will take the form of the signing of concrete Memorandums of Understanding between global companies and local counterparties during the 2 days forum, as the event follows the whole investment process.

 

Under The High Authority of H.E. President Obiang Nguema Mbasogo

of the Republic of Equatorial Guinea.

Distributed by APO (African Press Organization) on behalf of Emerging Equatorial Guinea.

For any information or interview request, please contact the event press office:

Wellcom Agency Coraline Bardinat on eeg@wellcom.fr

Tel: +33 (0)1 46 34 60 60

About the EEG forum

Located in Malabo, February 3-4 2014, the forum convenes representatives of business and investment groups from the national, regional and international communities. This aims at offering the most valuable opportunity for international investors to learn about Equatorial Guinea’s potential and strategize directly with government officials.

http://www.emergingeg.com/en/program

SOURCE

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Republic of Equatorial Guinea President arrives

January 23rd , 2014 → 6:48 am @

Posted on 1/23/14 – Equatorial Guinea Online

AT exactly 3:45pm yesterday, the President of the Republic of Equatorial Guinea Teodoro Obiang Nguema Mbasogo who was in the company of his wife jetted into the country aboard his Boeing 707.
Present at the Matsapha International Airport to meet the president and his delegation was the Prime Minister Sibusiso Dlamini, Deputy Prime Minister Paul Dlamini and almost the entire cabinet.
The president of the Republic of Equatorial Guinea came with a  delegation of over 50 people, including investors who came into the country to look for business opportunities, aboard two separate jets.
The media was initially turned back from the airport as it was stated that orders were that no pictures be captured of the president’s visit to Swaziland.
A protocol officer only referred to as Shongwe approached journalists who were taking pictures of those present at the airport and informed them to stop at once.
“I have been instructed to tell you that you aren’t allowed to take pictures of this private visit so please delete what you have,” Shongwe warned.
As he addressed the journalists, more than 12 police officers came threateningly and surrounded the group of perplexed journalists and closely monitored the situation.  Shongwe later retracted his statement and stated that his superiors had changed their minds, allowing media houses to report on the visit.

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Equatorial Guinea, one of the best economies in the world in 2013

January 13th , 2014 → 5:01 pm @

posted by www.equatorialguineaonline.com – January 13th, 2014

The IMF article is entitled, “The best economies in the world in 2013,” and Equatorial Guinea has earned the top spot in the section “largest increase in investment.” The estimate of total investment to GDP ratio rises to 61.3%, which ranks the country as the highest percentage of GDP devoted to investment, in line with the Government’s objectives in order to comply with the Horizon 2020 Plan.

As indicated by H.E. Obiang Nguema Mbasogo in his speech of the end of the year, “the socio-economic reality should be a reflection point, compared to the colonial and dictatorial past. Our biggest concern right now is to advise the people of Equatorial Guinea to act jointly as one, to support the economic development program Horizon 2020, assuming their role as an engine of development of our country.”

In view of 2014, as was stated by the Governor of the Bank of Central African States (BEAC) and Statutory President of the Monetary Policy Committee, Lucas Abaga Nchama, the prospects will be characterized by an improvement in the sub-regional economic conditions, thanks to the increased production of oil and non-oil sector activities.

Based on the data available in the monetary institution directed by Abaga Nchama, the economic growth will increase to 5.3% in 2014, compared to 2.6% of 2013, which is a very positive development for the economy of Guinea Equatorial.

In the other variables considered in the IMF study, Brunei is the country with the lowest public debt (2.4%), South Sudan with the fastest growth (24.7%), the United States is the largest economy (16,700 trillion dollars) and Luxembourg has the higher per capita income (110,573 dollars).

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Official launch of the Symposium on Economic Diversification in Equatorial Guinea

January 13th , 2014 → 4:59 pm @

posted by www.equatorialguineaonline.com – January 13th, 2014

Marcelino Owono Edu, the Minister of Finance and Budgets, directed the presentation on the evening of Thursday, January 9, of the Symposium for Economic Diversification for the Emergence of Equatorial Guinea, with a view to the Horizon 2020, in a ceremony that took place in the new headquarters of this department.

The symposium, which is sponsored by the President of the Republic, H.E. Obiang Nguema Mbasogo, has as the main objective to present and inform the national and international sector on investment opportunities offered by Equatorial Guinea in the different strategic non-oil economic sectors. Among other things, it will also provide information about the obstacles that investors may find, as well as the resources to create a more attractive business climate.

During the official launch ceremony, Owono Edu said that the meeting will be of high importance because it will set the course of economic and social development of our country. During his speech he also recalled that in November 2007 the Government adopted the National Plan for Social Development, called Horizon 2020, whose first phase was executed between 2007 and 2012, with the construction of basic economic infrastructures, which allow for the creation of a business climate and promote the development of the national private sector.

The Minister also referred to the second stage of the National Development Plan, which runs from 2013 to 2020, a period referred to as the “emergence phase”, which is precisely dedicated to achieve diversification of the economy, this way obtaining new sources of growth to reduce dependence of the national economy related to the hydrocarbon sector. Economic diversification -he said- will ensure long-term socio-economic growth, and ensure job creation.

The Symposium on Economic Diversification of the Emergence of Equatorial Guinea, with a view to Horizon 2020, will be an opportunity for investors to explore and discover the immense opportunities in our country and to deal directly with the political and technical representatives on the pillars of the economy, primarily agriculture, livestock, fisheries, petrochemical, mining, tourism and financial services.

 

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Central African Countries” Economy to Grow in 2014

January 10th , 2014 → 6:15 am @

posted by www.equatorialguineaonline.com – January 10th, 2014

 

Malabo, Jan 9 (Prensa Latina) The economic growth of the Central African Economic and Monetary Community (CEMAC) will reach 5.3 percent in 2014 in comparison to the 2.6 percent registered in 2013.

The announcement was recently issued by Governor of the Bank of Central African States (BEAC) and Statutory President of Monetary Policy Committee (MPC), Lucas Abaga Nchama, during the fourth meeting held in Douala, Cameroon’s economic capital.

When quoting the official, the Equatorial Guinea’s Press and Information Office noted the evolution of the world’s economy in the fourth quarter of 2013, as well as economic, monetary and financial estimates of CEMAC were taken into account for issuing that prediction.

According to the source, Abaga Nchama told the representatives of Equatorial Guinea, Cameroon, Gabon, Congo, Chad and the Central African Republic that 2014 will be characterized by an improvement in sub-regional economic conditions.

Abaga Nchama underlined the progress will be possible thanks to the increase in the production of fuel and the activities of the non-oil sector.

 

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