Africa Monitor

Africa Monitor Intelligence

Equatorial Guinea: Malabo Accelerates Privatization of State Assets

The state-owned group Ceiba is in a situation considered to be of technical bankruptcy, depending on constant injections from the State Budget, and its total privatization is also being considered. The group includes four companies in the sectors of passenger transport (Ceiba Intercontinental), cargo (Ceiba Cargo Plus), airport management (Ceiba Aeropuertos) and handling (Hangesa). A total of eight candidates were presented to manage the country's airports. Among those excluded are the Spaniards of the Ader Business Group and the Cielo group, based in Estonia. READ MORE