In March, a United States private sector enterprise consortium, led by Management and Economics Consulting, Inc. (MAECI) undertook an economic and commercial mission to Equatorial Guinea. This mission was in response to President Obiang’s invitation for more U.S. economic involvement in Equatorial Guinea.
On June 10th – 13th, 2012, H.E. Obiang Nguema Mbasago, President of The Republic, Head of State of Equatorial Guinea, led an Economic Forum in Houston, Texas, USA. During that forum, H.E. the President made an appeal to the United States private sector companies in attendance, to come to Equatorial Guinea to participate in the economic development diversification undertaken by the country within its economic and social development program called “Horizon 2020”.
This most recent U.S. mission conducted in Equatorial Guinea was the U.S. private sectors enterprise consortium’s response to that appeal. The U.S. Economic Consortium represented enterprises in the following sectors: Agriculture, Healthcare, Water Purification, IT and communications, Solar Energy, Education, Transportation and Human Resources.
Members of the U.S. Delegation met with H.E. Don Miguel OYONO NDONG MIFUMU and his team from the Ministry of Agriculture. H.E. Mifumu gave the group an overview of the current status of the agriculture sector, and explained how MAECI has been establishing and managing the current projects in the country. Mifumu explained that Equatorial Guinea would like to be self sufficient and able to feed themselves within the next few years. Currently, the country imports over 80% of what they consume.
The U.S. consortium’s objectives were clear. Introducing the U.S. private sector to Equatorial Guinea Officials and entrepreneurs with the goal of launching a partnership beneficial to the two parties. Identifying the sectors of priority in the development process, the role of the Equatorial Guinea private sector in the process and how a fruitful cooperation/partnership can be established to facilitate the transfer of adapted know how, the improvement of National technical and human resources, professional education and having the U.S. private sector participate effectively in the economic development diversification process.
MAECI pledged to bring partners from the U.S. to assist the private sector that is currently struggling to develop the agriculture industry in Equatorial Guinea. The group feels that the farmers need investment and industry knowledge. Most farming in the United States is subsidized by the government, and it appears this type of program will be needed in Equatorial Guinea as well.
The mission was undertaken in consultation with and the encouragement of United States Governors, Congressman and Senators.