Zimbabwe, Equatorial Guinea enjoy excellent relations, President Mnangagwa

Kudzanai Sharara in Malabo – Equatorial Guinea

President Mnangagwa has hailed the cordial relations between Zimbabwe and Equatorial Guinea which he says were cemented when authorities in Harare foiled an attempted coup to topple the Government of President Teodoro Obiang Nguema Mbasogo in 2004.

Last night, President Mnangagwa and members of his delegation were treated to a State banquet by host President  Mr Nguema Mbasogo at the People’s Palace, in the capital city – Malabo.

Speaking after the dinner, President Mnangagwa thanked his host for the hospitality, but also took time to highlight the cordial relations that the two countries enjoy, since the time of the late former President of Zimbabwe, the late Cde Robert Mugabe.

He said the sponsored coup d’état attempt in Equatorial Guinea in 2004 and sanctions imposed on Zimbabwe since 2001, remain “a testimony to the machinations of our erstwhile former colonisers to dispose democratically elected governments.”

“It is important that we scale up exchanges and cooperation between our two countries and people around the field of science, technology and innovation,” President Mnangagwa said in reference to Equatorial Guinean students learning at institutions of higher learning in Zimbabwe.

The southern African country looks forward to tap into the vast experience that Equatorial Guinea has in the field of oil.

According to President Mnangagwa, Zimbabwe recently discovered its own gas and oil and hopes to learn from Equatorial Guinea that is already in the business.

According to website worldometers.com Equatorial Guinea produces 244,000.00 barrels per day of oil (as of 2016) ranking 34th in the world.

It produces every year an amount equivalent to 8.1 percent of its total proven reserves (as of 2016).

The West African country holds 1,100,000,000 barrels of proven oil reserves as of 2016, ranking 39th in the world and accounting for about 0.1 percent of the world’s total oil reserves of 1,650,585,140,000 barrels.

“Zimbabwe looks forward to tap into the treasure trove of experience, following recent gas and oil discovery in Muzarabani in the north eastern part of our country, Zimbabwe.”

Although Invictus Energy, the company exploring for gas and oil has not officially announced gas and oil discovery, in its last communication it announced the presence of 13 potential hydrocarbon bearing zones and called Mukuyu-1 and ST1 drill campaign “a great success. ”

“This is an outstanding result and virtually unprecedented for the first well in a frontier basin, establishing a new petroleum province and substantially de-risking the Company’s wider acreage in the Carbora Bassa Basin,” Invictus Energy Managing Director, Scott MacMillian said of the development.

President Mnangagwa said Zimbabwe also boast of many other resources including wild animals which he jokingly said Zimbabwe” does not know whom to give”.

He said Zimbabwe is ready to give Equatorial Guinea some of the animals in line with international best practice.

He, however, lambasted European countries, “who have no wildlife of their own” for making the rules which are “unfair” in terms of sustainable wildlife conservation.

He appealed for the support of Equatorial Guinea and other African countries on the issue.

President Mnangagwa said there is scope for the two countries to increase bilateral trade and investments, which he said can be facilitated by officials from both the Zimbabwe private and public sectors who are part of the Zimbabwe delegation.

Private sector delegation included businessman Kudakwashe Tagwirei of Sakunda Holdings, Christopher Mugaga of Zimbabwe National Chamber of Commerce, Allan Majuru, CEO of Zimtrade and businessman George Manyere who was already in Equatorial Guinea.

“Zimbabwe is open for business. I therefore invite Equatorial Guinea investors to come to Zimbabwe and look for investment opportunities on offer.”

Yesterday, Zimbabwe and Equatorial Guinea signed an agreement for Reciprocal Promotion and Protection of Investments between the two countries.

Today President Mnangagwa is expected to visit places of interest of Malabo City including La Paz Hospital and Punta Europa (oil facilities).

He will then depart from Malabo to the City of Djibloho, for the installation of the Mayor at the Dibhloho Grand Hotel before attending a dinner hosted by the city fathers.