The government of Equatorial Guinea are heavily investing in the diversification of the economy through its Horizonte 2020 Program. The oil rich country is a part of The Central African Economic and Monetary Community (CEMAC). This region is made up of six States: Gabon, Cameroon, the Central African Republic (CAR), Chad, the Republic of the Congo and Equatorial Guinea. With a total population of about 37 million, port development is crucial to serve this region. Outlining countries of Nigeria and Angola are also receiving goods from the countries ports.
Malabo and the Bata ports are 16-18 meters deep, which have the capacity to bring bigger vessels, such as Panamax ships. These containerships can easily come in without any problems related to depth. The country is also improving the ports to accommodate the super-size container ships.
“Equatorial Guinea is transforming into a major maritime port and the neighbor countries are benefiting from key infrastructure developments. With deep ports and new roads to transport goods, this country is becoming a wise choice to establish new trade routes”, said Victor Mooney of the Spirit of Malabo Group.
More infrastructure developments are projected in the country, so more ships can deliver goods in the region and agents can establish offices nearby the ports. A new railway system is a key component of the transformation of Equatorial Guinea into a emerging economy.
Source: Spirit of Malabo Group