To maintain macroeconomic and financial stability, improve social protection, foster economic diversification, strengthen governance and fight corruption, the Government of Equatorial Guinea, in compliance with the Memorandum on Economic and Financial Policies for the period 2019-2022 (approved by Decree No. 136/2019, dated October 15, 2019), has agreed with the International Monetary Fund (IMF) to open an international bid to privatize certain State assets.
Following a proposal from the Ministry of Finance and after approval by the Government, the following assets should be privatized:
Public Companies / Entities
- Telecommunications company (GETESA - Guinea Ecuatorial de Telecomunicaciones, S.A.)
- Power Company (SEGESA - Sociedad de Electricidad de Guinea Ecuatorial)
- Post and telecommunications services (GECOTEL - Guinea Ecuatorial de Correos y Telecomunicaciones)
- Telecommunication infrastructures (GITGE - Gestor de Infraestructuras de Telecomunicaciones de Guinea Ecuatorial)
- National Airline (Ceiba Intercontinental)
- Vehicle inspection (ITV - Inspección Técnica de Vehículos)
Other State Assets
- Hotels;
- Water assets;
- Health infrastructures;
- Schools;
- Port infrastructures;
- Airport infrastructures; and
- Highway tolls.
According to the EG Government, the privatization may involve the full transfer of the assets or the transfer of the management of those assets to the private sector. The Ministry of Finance will prepare a plan for the sale of the State assets through open and transparent international bids.
For more information on this Alert please contact:
[email protected]