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Solar electrification project of Annobon Island in Equatorial Guinea underway

 

annobon clearing 2

In September the government of Equatorial Guinea approved a 5 megawatt solar project submitted by MAECI Solar, a division of Management and Economic Consulting, Inc. (MAECI) of the United States.  The project was developed in collaboration with Wise Power Systems International, located in Wilmington, Delaware.

The Annobon Island solar project is historic in that it will be the largest self -sufficient solar project on the continent of Africa, and one of the largest in the world to date.  The solar installation will supply enough electricity to handle 100% of the current demand, and enough capacity for future expansion.

Clearing of land near the Hotel Annobon

 

MAECI Solar has begun the excavation process on the island.  Excavation will take place in three strategic locations on the island, the airport, Hotel Annobon and the top of Quioveo Mountain.

Once the excavation process is complete, the installation of the solar units will begin.  MAECI Solar will employ several residents of Annobon Island.  These employees will assist with various parts of the project, including transportation and assembly.  MAECI Solar will train 10 or more residents of the island on the solar technology being installed, so that they can maintain the installation in the future.

As stated in our past articles, this project supports President Obiang’s “National Economic Development Plan” adopted in November 2007 at the Second National Economic “Horizon 2020” Conference.  The key strategies and reforms necessary for Equatorial Guinea to take advantage of its unique opportunity is to use its nonrenewable oil wealth to foster the wellbeing of its population and future generations.

 

Notice: Reproduction of all or part of this article or the images contained in it must always be done mentioning its source (Equatorialguineaonline.com).

 

Is the United States too late to the Party in Africa?

 

U.S. President Barack Obama, President of Equatorial Guinea Teodoro Obiang Nguema Mbasogo, Equatorial Guinea First Lady  Mrs. Constancia Mangue de Obiang Nsue, and US First Lady Michelle Obama.
U.S. President Barack Obama, President of Equatorial Guinea Teodoro Obiang Nguema Mbasogo, Equatorial Guinea First Lady Mrs. Constancia Mangue de Obiang Nsue, and US First Lady Michelle Obama.

In 2011, Hilary Clinton, the then Secretary of State, attended a business conference in the Zambian capital of Lusaka.  In an attempt to build economic partnerships in Africa, the United States sent the one of the largest delegations in years to the conference.  Secretary Clinton stated “Our approach is based on partnership, not patronage.  It is focused not on handouts but on the kind of economic growth that underlies long-term progress”.  Secretary Clinton also responded to China’s push to partner with many African countries stating China “has not always utilized the talents of the African people in pursuing business interests.”

Is the U.S too late to the party?  Is the U.S. ready to approach the continent with a consistent approach? The United States has been partnering with many Middle Eastern countries for several decades, in order to satisfy our thirst for oil.  With these partnerships we’ve befriended countries that are non-democratic, have a strong distaste for the U.S. to the point where they’ve inflicted violent terrorist attacks on U.S. soil and abroad.  These countries and their citizens have made it clear that they like our money, but not us.  What the U.S. has missed, is the opportunities in Africa.  Many leaders within Africa are extremely interested in building relationships with the U.S., but the U.S. has been extremely resistant.  Why?  Most likely the United States feels that many African countries have governments that are seen as oppressive and corrupt.  However, for some reason this isn’t an issue within the Middle East which is really surprising, to say the least.

In fact, “when it comes to countries such as Saudi Arabia, we ignore the way the royal family runs the country. Saudi Arabia is not an electoral democracy, and Equatorial Guinea is.  Saudi Arabia has made progress due to U.S. pressure when it comes to human rights, but still remains on the list of most oppressive regimes; Equatorial Guinea has made a remarkable achievement in this field, even recognized and praised by the UN and many international Medias.  When the U.S. began doing business with the Saudi family, it was at the top of the list concerning human rights violations within its borders.   (The reports are excerpted from Freedom in the World 2010, which surveys the state of freedom in 194 countries and 14 select territories)”.

Former President George Bush with Saudi King Abdullah
Former President George Bush with Saudi King Abdullah

An example of this inconsistent approach is Equatorial Guinea.  Having spent time in the African country of Equatorial Guinea, I’ve found that the U.S. struggles to determine how they would like to approach this country.  In democratic and sustainable terms, it would be very difficult for anyone who has studied, analyzed the constant changes of political economic and social spectrum of this country, to find a better democratized country on the continent. What the U.S. needs is to have a group of U.S. members of the congress and entrepreneurs to visit this country and draw their conclusion from their own assessment.  In 2012,  MAECI,  a U.S. international consulting firm, led a Multidisciplinary Economic Mission to Equatorial Guinea. Although the mission was very successful, the Members of the Congress (Senators and Congressmen) from the States where the members of the mission originated have failed to effectively act on the concrete report of that mission to foster the US partnership with that country.  Nevertheless, because of determined willingness of Equatorial Guinea to partnership with the US, the mission translated into different projects being implemented by U.S. companies. In cooperation with General Electric, Princeton Power, NESL, the University of Delaware, etc.; MAECI is building the largest Off-grid solar electric systems on the Continent, (and one the largest in the world) on the AnnobonIsland. Within the Framework of President Obiang Nguema Mbasogo vision as embodied in the National Economic and Social Development “Horizon 20/20”, with the construction of this Off-grid solar electric systems, Equatorial Guinea will become one of the greenest countries in the world. MAECI is also involved in the construction of a Plant to produce Small Agricultural Implement for national needs and export to neighboring countries; the Agro industrial complex built by MAECI to produce corn cooking oil, corn flour, animal feed, using the production from a 750 ha of corn/soybean farm is set for inauguration by the end of this year.

U.S. companies are also extensively involved, with recognized success, in the agricultural development of the country.  Equatorial Guinea has large oil and natural gas reserves, and U.S. companies such as Exxon-Mobil, Marathon, have had a strong presence within the country for years.  The government of Equatorial Guinea is very interested in building a strong partnership with the U.S.  However, The U.S. has still not moved on this.  Over the past few years, China, South Korea, India, East European countries, Brazil, to name a few, have forged strong relationships, and are involved in most of the growth of this small countries’ expansion.  China is heavily involved in building the infrastructure of Equatorial Guinea, and seeking more partnerships to develop such programs as food and manufacturing.

The United States has conflicted views of what to do in Equatorial Guinea.  The U.S. would like to invest and support the growth, but feels it’s compromising its beliefs due to unfounded statements that are made about the government of Equatorial Guinea, and appear to be uncomfortable in partnering with a country that has a leader that has been in power for many years.   Unfortunately, the U.S. has not taken the time to make a comprehensive analysis, considering where the country comes from, beside the fact that there is no valid reason why Equatorial Guinea should be singled out among so many countries in Africa and in the world under the same situation. There is no foundation for that attitude. It is time for the Western countries to understand that democracy cannot be imported but has to be genuine, grown and nurtured from within; and the process takes time. One should remember how long it took Europe to become a democratic Continent, and needless to say that many countries in Europe still cannot be considered as democratic states.

Obiang Nguema Mbasogo, President of the Republic of Equatorial Guinea has been in power for several decades.  President Obiang has come under scrutiny over the years for the way in which he has run the country.  What the U.S. hasn’t taken into consideration is that the country, from when President Obiang Nguema took power, has gone from one of the poorest countries in the world (in democratic, social and economic terms), to one of the democratically advanced and economically richest per capita country on the Continent.  A third world country such as Equatorial Guinea lacks the experience to handle what comes with this new found wealth.  The United States should see this as an opportunity to assist and partner with African countries such as Equatorial Guinea while they go through this process.  Instead the U.S. has taken the approach that a third world country should have the ability to recognize it’s short comings and build a model country within a timeframe that neither the U.S. nor any so called developed western country were able to achieve.  The result has been lost opportunities.

The government of Equatorial Guinea has made great progress within the last five years.  The government has built roads, schools, hospitals and many other infrastructure projects with the oil revenue that has been created.  One of the most powerful initiatives has been in the agriculture sector.  The government of Equatorial Guinea is committed to feed its own people in order to create a foundation for sustainable future growth. The successful far-reaching and comprehensive Agriculture Program launched back in 2010/2011 by the then Minister of State in charge of Agriculture and Forest H.E. Teodoro NGUEMA OBIANG MANGUE (presently Vice President in charge of Security and Armed Forces), and called “The Green Revolution”, implemented by the U.S. company (MAECI), is still being visited by experts from many African countries as a model to be copied. Its objective of achieving food self-sufficiency is being attained, after only 18 months from inception! Some FAO experts have called the program a discovery on how to sustainably and economically reach food self-sufficiency in a developing country.

Based on Secretary Clinton’s 2011 comments, it sounded like the U.S. wanted to become more involved in Africa.  In order for that to happen, the U.S. must become proactive in assisting African countries in developing the genuine roadmap to their development.

We live in an extremely transparent world, with a 24 hour news cycle, which is causing the U.S. to take positions that they feel will protect them politically.  By taking this type of position, how does it benefit the U.S.?  This forces the United States to sell its population on initiatives through deception, such as how we were sold on the Iraq and Libya wars, while countries like China, India, Brazil, South Korea, are securing their future needs with partnerships they’re creating all over Africa.

With the changes that are taking place around the world, and the race for the super powers to control the depleting resources on the earth, it’s crucial for the U.S. to embrace Africa.  Unfortunately when dealing with emerging markets and countries, patience and understanding need to be used.  We need to focus our attention and resources on countries that want to partner with the U.S.

Equatorial Guinea is just one example of African countries that the U.S. should support, and there are more just within the Western Central African region.

We must look long term and ignore the short sited political rhetoric. There is absolutely no doubt that Africa is the Continent of the Future, and it is the last of the World’s frontiers.  If the US misses out, where do we go?

 

Supplying Power Where Power is Due: Annobon Island Microgrid

 

Darren Hammell, Princeton Power Systems
Darren Hammell, Princeton Power Systems

With electricity only five hours a day, Annobon Island is much like many other remote areas of the developing world. Darren Hammel of Princeton Power Systems explains the changes that the Annobon Island microgrid will bring to this Equatorial Guinea community.

Annobon Island is the southern-most island of Equatorial Guinea off the coast of west central Africa. The island has a population of approximately 5,000 residents, with limited access to reliable electricity. In 2014, residents of Annobon Island had access to electricity for about five hours per day, if at all, and even then the electricity did not come cheap as they would spend an average of 15-20 percent of their annual income on supplemental power.

Unfortunately, the scenario on Annobon Island is fairly common throughout the developing world, especially on islands. The quickest and most convenient way to bring electricity to remote areas is with a diesel generator. They are widely available nearly everywhere on the planet, and reasonable cheap to buy and install. The problem comes with the long-term operation of these generators, which can be very expensive, particularly in locations that do not have easy access to the refined diesel fuel that the generators need to run. Furthermore, these generators are loud, polluting, burn significant volumes of fuel, and must be frequently monitored, maintained, and overhauled. Overall, this leads to diesel generators being a very expensive way to generate electricity.

What’s worse, generators are typically oversized for the average amount of power they provide, which makes them run inefficiently, burn more fuel, and need more maintenance. Finally, with many mechanical moving parts they are prone to break-downs and are tough to count on for reliable electricity, especially in warm temperatures.

One new solution to this issue relies on solar energy, advanced batteries, and advanced power electronics and controllers to create a “microgrid” to supply a village or an entire island with reliable and cost-effective electricity. As the technology to do this reliable and cost-effectively has only recently become available, it requires strong leadership and political will to develop microgrid projects at large scale. Annobon’s President Obiang Nguema had a vision to raise the quality of life for the residents by filling the need for an energy solution that would provide them with electricity for 24 hours a day seven days a week, and after consulting with industry came across solar microgrid technology as an optimal solution. Princeton Power Systems stepped in with the technology and capabilities to prove that one does not have to live on the mainland to enjoy the benefits of affordable, reliable, low-pollution electricity.

Princeton Power Systems, based out of Lawrenceville, New Jersey, opened doors in 2001. The company has extensive experience with microgrids having developed perhaps the highest profile solar microgrid in the world for the US National Park Service on Alcatraz Island in the San Francisco Bay, plus many other projects with customers across the United States, the Caribbean, Europe, and Africa. Princeton’s UL and CE-certified power electronics are used worldwide in advanced battery operations both tied to the electric grid and offgrid, with built-in smart functions for ancillary services.

The company’s project on Alcatraz, off the coast of California, is similar to the Annobon Island situation in the sense that they are both isolated from central power grids and Alcatraz previously ran entirely on diesel-fueled generators, which drove a significant amount of operating costs and pollutants for the Golden Gate Recreational area that manages the island. The Alcatraz Microgrid has been operating reliable for nearly three years, since the project was commissioned in 2012. During that time, the amount of diesel fuel consumed on the island has dropped by over 50 percent, reducing the number of fuel-resupply ferries that go out to the island by almost 75%. The resulting cost savings, emission savings, and improved electric grid reliability have made the project a success for the Park Service.

In collaboration with the project developer MAECI – Management & Economics Consulting, Inc.) and partners, Princeton Power Systems began the build-out of a 5-MW self-sufficient solar microgrid on Annobon Island, consisting of 20,000 solar panels split into three geographically-separated arrays, three large-scale advanced battery banks, and redundant generators. The microgrid is enabled by Princeton Power Systems 250 kW battery integrated inverters (BIGI), twenty of which are installed across the island to condition the power from the solar arrays and batteries, and to manage power flow between the different sources and loads. The BIGI-250 is the world’s first multi-port, DC-coupled power converter designed for cost-effective solar and battery microgrids like the one on Annobon.

The BIGI-250 operates both on-grid and off-grid and features built-in smart functions, such as demand peak shaving, photovoltaic (PV) ramp rate control and area frequency regulation (AFR). It includes a droop control algorithm that allows multiple power converters to synchronize on an AC-microgrid along with diesel generators and without dedicated communication lines between the converters. This control method allows inverters to drop off-line or communications to go down without affecting the reliability of the electric grid.

The control structure is based on Princeton’s Energy Management Operating System (EMOSTM) and four EMOS-Hub controllers placed around the island. There is one EMOS-Hub located near the mouth of the island’s inactive volcano, another near the island’s airport, one near the island’s only hotel and the fourth master controller near the southern tip to coordinate between all of the locations and support three small villages.  The island-wide microgrid EMOS controllers allow remote control and monitoring of the power system, and allows remote maintenance and software upgrades as needed.

“Today over 1 billion people are without power. We are taking our experience in microgrids from Alcatraz Island, the US Department of Defense and private sector customers to now apply it to improving quality of life for people in rural areas where grid connected power does not exist or is not reliable,” said Ken McCauley, president and CEO Princeton Power Systems.

The island-wide microgrid on Annobon will provide reliable, predictable power, supply enough electricity to handle 100 percent of the island’s current energy demand, and will be the largest self-sufficient solar project on the continent of Africa. Solar power with advanced batteries provides a cost-effective way to bring electricity to islands and remote areas with much lower emissions than fossil-fuel generators. Modern solar panels are far more efficient and cost-effective than their predecessors, and advanced batteries that can support the daily charging and discharging required for microgrid operation are just now becoming widely commercially available. The electronics and controls required to manage these assets has been demonstrated for several years in projects including the Alcatraz Microgrid.

The Annobon project is a part of Equitorial Guinea’s National Economic Development Plan Horizon 2020, which aims to make Equitorial Guinea an “emerging economy” while accelerating its development and democratization by 2020.  Along, with a much needed power supply, the microgrid will enable the development of multiple industries on the island, therefore, providing residents more jobs and significantly raise the standard of living.

Historic solar electrification project of Annobon Island in Equatorial Guinea approved

 

Annobon Island off the coast of Equatorial Guinea
Annobon Island off the coast of Equatorial Guinea

 

 

Following a very intensive biding process, the government of Equatorial Guinea has approved a solar project submitted by MAECI Solar, a division of Management and Economic Consulting, Inc. (MAECI) of the United   States.  The project was developed in collaboration with Wise Power Systems International, located in Wilmington, Delaware.

The Annobon Island solar project is historic in that it will be the largest self -sufficient solar project on the continent of Africa, and one of the largest in the world to date.  The solar installation will supply enough electricity to handle 100% of the current demand, and enough capacity for future expansion.

This project supports President Obiang Nguema’s “National Economic Development Plan” adopted in November 2007 at the Second National Economic Conference,  “Horizon 2020” .  The key strategies and reforms necessary for Equatorial Guinea to take advantage of its unique opportunity is to use its nonrenewable oil wealth to foster the wellbeing of its population and future generations.

The current population on the island, partially has access to electricity on average of 4 to 5 hours per day. These lengthy blackout periods are due to a grid based solely on diesel fuel which is expensive to obtain and to maintain. It’s also outdated which translates to supply/demand imbalances or faulty lines, which can be both unsafe and slow to be repaired.  The cost of continuing with a grid tied system based on diesel generators is generally considered cost prohibitive, environmentally unfriendly, difficult to maintain and a potential safety hazard.

As a result of less than 5 hours per day of electricity, it is estimated that households on Annobon Island, for those who can afford it, spend as much as 15% to 20% of their incomes just to purchase kerosene and paraffin for lighting as well as batteries for their small appliances like radios, laptops and cell phones.  The World Bank estimates that this expense exceeds $17B per year across Africa. One could easily estimate this cost for the remote population of Equatorial Guinea to exceed $50MM per year.

MAECI concluded that “appropriate micro grid-tied solar PV systems” represent the only viable solution when compared to alternatives such as wind, hydro, diesel generators, wood and kerosene or sub-marine cable (bringing hydro-electric power from the mainland; 300Km away) which could cost more than 3.0 billions US$.  Solar is the most cost effective, reliable, safe and readily deployable solution for Equatorial Guinea to electrify Annobon Island. Solar energy is an abundant, renewable resource that can be deployed directly at the point of use with essentially no environmental impact.

About Annobon Island, and the strategic significance:

annobon 2

Annobon Province, an island of Equatorial   Guinea, measures 17.5 km2 with an extinct volcano and population estimated at approximately 5,000 inhabitants in 2011.  The island’s main industries are fishing and timber.  It is characterized by a succession of lush valleys and steep mountains, covered with rich woods and luxuriant vegetation. It has a central crater lake named Lago A Pot. A number of tiny rocky islets lie off the main island, including Santarém to the south.

Solar energy macroproject for Annobon

 

1402419016

 

The Government of Equatorial Guinea, through the Ministry of Mines, Industry and Energy, is conducting in Annobon the Project of Solar Energy as a Renewable Energy Source, which will allow island residents to enjoy clean energy. A group of national technicians is being trained to manage the plan.

This is a project formed by solar micro-networks, which had the cooperation of U.S. companies MAECI Solar, GE Power & Water and Power System.

The solar complex on which this project is based will consist of numerous 5MW panels, scalable to 10MW in the future. These panels will be managed by a comprehensive system of control and storage of solar energy.

The project has already been considered as the largest system of self-sufficient solar micro-networks of the African continent, and is particularly optimal for the Island of Annobon, which in this way can produce enough electricity to supply itself; meet the needs of the population, and the future needs of tourism, industrial and commercial activity. The province currently has power for a few hours a day; with this system their needs will be covered 24 hours a day.

-“The Electrification Project of Annobon will be the right platform for the economic growth of the island, with a much needed production of energy for the development of numerous industries and for the creation of jobs in the island,” said Chris Massaro, vice president of the company MAECI.

For its part, the Ministry of Mines, Industry and Energy has also stressed the importance of the project employing Equatorial Guinean citizens, and it is expected that approximately 20 national technicians will be trained, who will control and maintain the facilities.

The project is part of the National Economic Development Plan Horizon 2020 of the Government of Equatorial Guinea.

Source: Ministry of Mines, Industry and Energy. Equatorial Guinea’s Press and Information Office.

United States Economic Mission meets with Ministry of Agriculture of Equatorial Guinea

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.

United States Economic Consortium Mission to Equatorial Guinea – Horizon 2020

 

A multi-disciplinary mission of the United States private sector enterprise consortium, led by Management and Economics Consulting, Inc. (MAECI) undertook an economic and commercial mission to Equatorial Guinea from March 9th to March 17th, 2013.

 

 

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”.  In addition H.E. stated that if your company has an interest in doing business in Equatorial Guinea, to keep in mind that EG can’t do business with people they do not know, thereby encouraging U.S. companies to visit the country.

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.

 

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.

The mission was undertaken in consultation with and the encouragement of United States Governors, Congressman and Senators.

Members of the U.S. Delegation with Director General Francisca Eyang Ondo and her Horizon 2020 team

The U.S. Economic Consortium attended a meeting with the Office of Horizon 2020.  The meeting was led by Director General Francisca Eyang Ondo, Director General, assisted by Ms. Manuela Oyana Ndong, Deputy Executive Secretary.  H.E. Ondo gave the U.S. Economic Consortium an overview of the Horizon 2020 initiative and current status.  H.E. described the main economic sectors of priority and reported that the initial phase was started in 2007; the program was to create an infrastructure within EG.  This includes roads, airports, buildings, harbors and power systems.  Phase 1 is well underway and nearing conclusion.  Now in 2013, phase 2 is beginning with the goal to diversify the economy and build the private sector.  This phase will run from 2013 – 2016.

The U.S. Economic Consortium was excited to hear this, as it fits directly into their own desires to bring U.S. involvement and investment into Phase 2 of the Horizon 2020 initiative.  The U.S. delegation explained that they felt the timing was perfect to start the process of introducing U.S. private sector partners to the EG market, and begin deploying these private sector subject matter experts to assist the EG private sector in growing their businesses.  The U.S. Economic Consortium stated that they represent over 20 U.S. companies, and is confident this number will grow dramatically when they return to the U.S. and make their report to these companies and U.S. government officials.

The U.S. Economic Consortium representatives were extremely impressed and thankful for the professional organization and structure of the mission provided by the government representatives.

The U.S. Economic consortium’s conclusion is that without the accelerated growth of the private sector, it will be difficult to achieve Phase 2 of Horizon 2020.  To date the overwhelming majority of growth activity has come from the Oil & Gas industry and the EG government.  It is apparent that the Oil & Gas industry will continue to have a laser focus on Oil & Gas development within EG, and won’t be able to assist in the development of the private sector, and government is not a producer, but only a facilitator.    The EG private sector appears to be ready to make this happen.

 

 

Business meeting at the Chamber of Commerce of Bioko

Economic Delegation

Pictured Above: United States Economic Delegation led by MAECI in Equatorial Guinea

At the headquarters of the Chamber of Commerce of Bioko, Gregorio Boho Camo, president of the entity, received a delegation of seven U.S. businessmen, headed by Chris J. Massaro, the Vice President of the company Maeci, and composed of representatives from Philadelphia International Medicine, Leonard Karp, and the presidents of Sun-In-One New Electrical Solar Light and Power Products, William Rawheiser, and that of Flow Enterprises, Florian Kouamou, among others.

The aim of the visit of the delegation was to correspond to the invitation that the Head of State, Obiang Nguema Mbasogo, made to the North American businessmen during the World Economic Forum held in Houston in 2012 to support the national private sector. The sectors that are to be analyzed and evaluated for investment opportunities in Equatorial Guinea are agriculture, transportation, human resources, technology and health.

Gregorio Boho thanked the delegation for their visit, and said that “we are open to developing the cooperation program in the sectors in which North American businessmen want to invest in Equatorial Guinea.”

The ceremony was also attended by the Vice President of the Chamber of Commerce of the Continental Region, Rosendo Ela Baby, the Director General of Small and Medium Businesses, and the Secretary of the Chamber of Bioko, among others. The delegation’s visit will be extended to the mainland.

 

Equatorial Guinea Chamber of Commerce- Bata and Private Sector meets with United States Economic Delegation

 

 

Equatorial Guinea Chamber of Commerce – Bata leadership with U.S. Economic Delegation

 

 

 

A delegation of companies from the United States on an economic mission in Equatorial Guinea, led by MAECI, visited the headquarters of the Equatorial Guinea Chamber of Commerce – Bata on Thursday.  The purpose of the delegation’s trip to Equatorial Guinea was in response to H.E. President Obiang’s appeal for assistance from United States companies in the diversification of the country’s economy, and the strengthening of Equatorial Guinea’s private sector.

The U.S. Economic consortium attended a meeting with the EG Chamber of Commerce (Bata) leadership.  In addition, the private business sector was represented by business owners located in the city of Bata.  The U.S. Economic consortium presented the concept of assisting and investing in the private sector of Equatorial Guinea.

The consortium reinforced the concept by explaining that the success of the U.S. economic growth over the past 70 years has been based on the building of the private sector.

The U.S. private sector was built and financed by private investment, Government subsidy and international joint venture.

The delegation of U.S. companies stated that they were extremely interested in partnering with the private sector of Equatorial Guinea, and will look to bring financing solutions and industry knowledge to build this partnership.