AGP Executive Report
Last update: 12 hours agoGovernment Shake-Up: Equatorial Guinea’s entire Cabinet has resigned after the administration reportedly achieved only about 10% of its targets, with Vice-President Teodoro Nguema Obiang Mangue saying the “degree of execution” was “clearly insufficient” and citing corruption, delays in development projects, and failure to diversify an economy still heavily dependent on oil and gas. Next Steps: Prime Minister Manuel Osa Nsue Nsua submitted the en bloc resignation, and a new government is expected to be appointed in the coming days, though the ruling PDGE says the move is part of an institutional reorganization. Business & Energy: Kosmos Energy says it has completed the sale of its Ceiba Field and Okume Complex production assets in offshore Equatorial Guinea to Panoro Energy for about $127 million, with proceeds aimed at repaying borrowings. Regional Economy: Central Africa’s borrowing costs are rising, with Equatorial Guinea’s average lending rates moving from 15.64% to 17.44% year-on-year, adding pressure on households, businesses, and public institutions.
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