Equatorial Guinea: Spruikers Economy and Reforms at World Economic Forum on Africa

By Abdul Rahman Suagibu –

African Development Bank Officials  and Minister Cesar Mba Abogo
Photo Credit: AfDB

NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- In Cape Town, South Africa last week; the government of Equatorial Guinea, represented by the Ministry of Economy, Finance and Planning has concluded a successful mission at the 2oth World Economic Forum (WEF) on Africa, which Minister Cesar Mba Abogo had a team of officials that joined more than 1,500 regional and global leaders to discuss how innovation, cooperation, growth and stability can accelerate in the drive of sustainable future for Africa. He also popularizes favorable economic pointers in Equatorial Guinea and ongoing efforts to strengthen regional trade and stabilize Central Africa’s currency CFA.

“Equatorial Guinea’s presence at the World Economic Forum, provided a great opportunity to advance our country’s economic interest, 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,” the Minister added.

“We are creating value for our citizen that is of huge financial benefit for us. That is showing a full recovery since the oil price collapse of 2014”.

The Minister summarized the country’s roadmap to finish successfully, the fourth Industrial Revolution. He also popularized the success of the then investment conference 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 updated statistics on the country and its economy. He further discussed the significance of Equatorial Guinea’s membership in OPEC, whose oil production cuts; have been valued with oil prices and returning the industry to a stabling a new phase of investment.

“We cannot overstate the enormous value that 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 continual our destiny”.

For New Africa Daily News Abdul Rahman Suagibu Reports,  Africa Correspondent

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