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Seminar on funding and awareness of small and medium companies in Equatorial Guinea

Posted 12/8/12

The Minister of Economy, Trade and Business, Celestino Bonifacio Bakale Obiang, chaired on Thursday, December 6 at the headquarters of the company GEPetrol the opening session of the seminar on funding and awareness of small and medium enterprises (SMEs). According to the program of speeches, the first to speak was the Director-General of Business Development about the objectives of the seminar.

Then Bakale Obiang said the Government’s determination to strengthen the private sector, and to achieve a significant increase in the national productive power to obtain better conditions, according to the vision of the President of the Republic, H.E. Obiang Nguema Mbasogo, in his work to modernize and transform the country.

The increase in productive power and diversification of the economy for the 2020 PEGI plan are also part of the Government’s work, explained the minister, who said that it is appropriate that each of the players are in the proper position, acting in a combined manner to obtain the desired results.

In his speech he also spoke about the importance of funding the private sector, and the need to raise awareness for both commercial banks and businesses, because the loans should not become a subterfuge for companies to obtain grants. “Behind the credit there are unalterable rules to establish a climate of confidence,” said the Minister.

On the Government’s creation of a Partial Credit Guarantee Fund, Bakale said that the fund is a financial instrument that will be available to commercial banks, and will give fluidity to the credit market, and provides each SME with the possibility of obtaining funding and to carry out their business plans.

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