The Equatoguinean Government is adopting strategies to make informal sector activities more profitable. Malabo is continuing to seek strategies to rebalance the Equatoguinean economy, which has been affected since the fall in oil prices in the second half of 2014.

On Wednesday, the Vice-President of the Council of Ministers, H. E. Teodoro Nguema Obiang Mangue, met heads of the government portfolios of Finance and Commerce, among others, to enquire about the payment of tax quotas in economic establishments in the informal sector operating in Equatorial Guinea.

According to Finance data, collected in the first business census in 2021 by the National Statistics Institute, around 32,141 economic establishments are operating in national territory, 23,691 of which are in the informal sector. In that sense, Nguema Obiang Mangue, who demands respect for Equatoguinean laws, ordered those present to urgently create an inter-ministerial commission with the aim, on the one hand, of verifying if the owners of the grocers’, car wash businesses, restaurants, vehicle repair shops and barbers, among others, pay the Tax Office. And, on the other, whether they have their documentation in order to carry out economic activities in the country.

For the Vice-President of the Republic, the idea is not to expatriate any citizen, but to give them the chance to put their respective situations in order and be able to exercise their commercial activities with all the paperwork in order.

Source: Official Web Page of the Government