Equatorial Guinea speeds up year of investment drive with Nigerian investors

Sierra Leone Telegraph: 20 January 2020:

In line with its commitment to attract regional capital investment into the country, Minister of Mines and Hydrocarbons of Equatorial Guinea – Gabriel Mbaga Obiang Lima, met with high-level Nigerian investors, bankers and financiers to discuss opportunities offered by the country’s Year of Investment initiative.

The delegation from Equatorial Guinea met with several Nigerian executives from the Africa Finance Corporation, Polaris Bank, Sterling Bank, First Bank, UBA and Zenith Bank but also captains of the industry such as Simbi Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board.

Such discussions with all the leading figures who have been a true engine of growth of the Nigerian economy is essential as Nigeria continues to be Africa’s largest economy said Minister Obiang Lima, who presented key opportunities for them to expand their portfolio by investing in Equatorial Guinea.

The Equatorial Guinea delegation also listened to their expectations on investing in Equatorial Guinea, while advising Nigerian businesses on the latest development and opportunities offered to African investors within the country’s rapidly developing oil and mining sectors.

A clear consensus came out of the discussions that only Africans can fully develop Africa while working with other partners coming from Asia, the Middle East, Europe and North America.

“Equatorial Guinea’s mission is to cut the dependence on foreign imports. It is important to boost local entrepreneurship, energy security and using our products to grow the local economy while engaging the regional market,” declared Minister Obiang Lima.

Gabriel Mbaga Obiang Lima said he is committed to using Nigerian expertise to develop local content in Equatorial Guinea and also work with Nigeria on gas-related matters, oil market stabilization with OPEC, and industry coordination through APPO.

“The great relationship that has existed between H.E. President Muhammadu Buhari and H.E. President Obiang Nguema Mbasogo has really opened many doors for us. We don’t take this engagement lightly and we must deliver. More than before, I am optimistic that we are going to have better collaboration and sign deals that will improve the lives of Nigerians and Equatorial Guineans and ensure our relationship reaches new heights,” added H.E. Gabriel Obiang Lima.

2 Comments

  1. Equatorial guinea is a disaster song – it is a broken record with only inaudible,screeching, irritating sounds – the real music being played is never heard,no matter how hard,and closely you listen to it(lol) Government officials there are award winners for corruption,and mindless brutality.Just like SIerra Leone they believe in unchecked extravagance in governance.You think we have freeloaders here? – Go there, and see battalions in elegant French suits,running aimlessly around.(lol)

    Somehow,they have managed to create a thriving,safe haven for criminals,drug traffickers,wanted men,and dictators. Yayah Jammeh resides there! Not surprised at all that big boys from Nigeria who many will agree,are experts for indulging in shady business investments,are heading there to see how they can squeeze,and milk that poor,tiny nation completely dry.(lol).

    Funny is it not,how millions are starving,and suffering in Nigeria,a harsh terrain,where millions are homeless,and jobless,and their leaders are zipping like 44 magnum bullets,to invest in a country with a barbaric,lawless,criminal President,where there are no real functioning institutions,and where public infrastructures – roads,bridge,buildings are all considered as death traps? Something really smells fishy,but then again with these “Agbagda” wearing “Alagbas”, “Ogas”,and Nigerian heavyweight investors being fishy,shady,and questionable is all part of the game of life. Its all part of their hustle,to make ends meet,no matter what – and no one should even dare call their hard earned dubiously earned financial returns – Dirty Money(lol) Rising Sun Will Rise Again

  2. What a hell. President Obiang is a democrat? Human right groups call him a dictator. His country ranked 171 out of 180 states (reporter without borders 2017) in relation to freedom of speech. But may be it was a nice meeting.

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