Johannesburg, South Africa – The GEPROYECTOS (National Office for Planning and Project Oversight) has strengthened its role in monitoring and supervising the country’s most critical development initiatives. The agency, a cornerstone of Equatorial Guinea’s economic growth strategy, is committed to ensuring the efficient implementation of public projects and the optimal use of government resources.
AfricaHeadline Reports Team
editorial@africaheadline.com
Recently, GEPROYECTOS was tasked with drafting a comprehensive urban development plan for Corisco Island. The initiative, requested by Vice President Teodoro Nguema Obiang Mangue, aims to transform the island into a model of sustainable development. The plan includes the construction of new roads, upgrades to the local airport, and the creation of a cultural museum to preserve and celebrate the region’s heritage.
Among the ongoing projects is the construction of a port on Corisco Island, with its first phase scheduled for completion within 12 months. Additionally, a new water supply facility is set to begin testing by December 2024, addressing long-standing water provision challenges in the area.
GEPROYECTOS plays a pivotal role in managing public investments, which are projected to reach 440 billion CFA francs as part of the 2025 General State Budget. The budget forecasts total revenues of 1.405 trillion CFA francs and expenditures of 1.403 trillion CFA francs, focusing on economic diversification and improving the business environment.
Equatorial Guinea faces notable economic challenges, with the International Monetary Fund (IMF) projecting a 5.5% contraction in GDP for 2024 due to declining oil production. To offset these impacts, GEPROYECTOS is prioritising projects that stimulate non-oil sectors, including agriculture, tourism, and telecommunications.
The agency has introduced digital tools to enhance transparency and real-time tracking of project progress. Such initiatives are seen as critical to attracting foreign investment and fostering a more diversified and inclusive economy.
Aligned with the National Development Plan and Vision 2035, GEPROYECTOS aims to transform Equatorial Guinea into an emerging economy. One notable initiative includes the construction of 100,000 social housing units across major cities, set to commence in 2025, aiming to improve living conditions for the population.
By intensifying oversight of strategic projects and focusing on transparency and efficiency, GEPROYECTOS is positioning itself as a key player in Equatorial Guinea’s pursuit of economic stability and sustainable development. Its efforts are expected to drive not only infrastructure improvements but also public and international confidence in the nation’s governance.
