Equatorial Guinea has undergone a major transformation over the past two decades. After centuries of colonial rule, followed by over a decade of instability and violence, the country has emerged as a model of peace, stability and rapid economic development in Africa. The success of the country was recently rewarded with a two year term as a non-permanent member for United Nations Security Council (UNSC) from 2018-2019. At the UNSC, Equatorial Guinea remains a active participant in the pursuit of global peace, human rights and democracy.
With the continuity of peace, development and stability, on October 12, 2018, Equatorial Guinea will celebrate their 50th Anniversary of Independence. This milestone is made possible with the visionary fortitude from His Excellency, Obiang Nguema Mbasogo, Head of State. From all corners of the world, people are expected to attend the many events to mark the occasion.
With the discovery of oil from American companies in the early 1990’s, the revenues generated have contributed to improve the infrastructure by building of roads, bridges, schools, hospitals, social housing and creating renewable energy resources to help power the county. The road map for diversification and poverty reduction, namely called Horizonte 2020 Development Plan continues, despite the global effects on oil market. Equatorial Guinea has become the leading oil producer in the Central African Economic and Monetary Community (CEMAC) and the third largest oil producer in sub-Saharan Africa after Nigeria and Angola.
The rapid transformation of Equatorial Guinea has open the door for the next wave of pioneering investors, said Don Victor Mooney, Managing Partner at Mooney Worldwide.
Equatorial Guinea has made significant contributions such as a million contribution to the Trust Fund for Food Security in Africa (FAO), [ million in annual support for the UNESCO-Equatorial Guinea Prize for The Life Sciences, million in support of the response to the Ebola pandemic, as well as emergency aid for several countries that have suffered natural disasters.
The outlook for Equatorial Guinea is very promising. With the pioneering spirit, agricultural and livestock, fishing, transport, tourism, mining and petrochemicals are prime sectors for national and foreign investors. As the gateway to Central Africa, with fifty million plus population, opportunity for joint ventures are plentiful.
Among other things, H.E. Obiang Nguema Mbasogo recently return from 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC), where Chinese President Xi Jinping reiterated support for the country’s Horizonte 2020 Development Plan. China also welcomed Equatorial Guinea to actively participate in the joint building of the Belt and Road initiative. On September 5, the President granted an audience to a delegation from the Export-Import Bank of the United States (EXIM) at the People’s Palace in Malabo. EXIM is the official export credit agency of the United States. President Obiang is scheduled to be in New York for the 73rd session of the UN General Assembly this month.
Vía Ein News