Malabo could deduct SEGESA debts from public subsidies
By the AFREEQUE newsroom, based on Realequatorialguinea
The Equatorial Guinean government could withhold from public bodies’ subsidies sums they owe to SEGESA, the national electricity company. The parties have a week and a half to agree on a payment arrangement before a final decision, according to the Office of the President of the Government of Equatorial Guinea.
Equatorial Guinea’s Prime Minister in charge of Administrative Coordination, Manuel Osa Nsue Nsua, warned that the government could deduct from public subsidies sums owed to SEGESA, the Electricity Company of Equatorial Guinea, by state entities. He spoke at a meeting held on Tuesday in Malabo with public bodies and the company’s management, according to the Press Office of the Office of the President of the Government.
The meeting aimed to agree on a debt repayment schedule to improve SEGESA’s financial position and operations. The company’s director-general presented the outstanding amounts, while public entities outlined their difficulties and proposals.
The parties have a week and a half to seek an agreement before final decisions are taken, the Press Office of the Office of the President of the Government said. The move is part of the Equatorial Guinean government’s strengthening of public financial oversight.
