Supporting entrepreneurship in Equatorial Guinea
Project Title: Supporting Entrepreneurship in Equatorial Guinea Location: Equatorial Guinea Client: Private sector client Date: January 2016 – December 2020
Montrose is implementing a major base-level entrepreneurship project in Equatorial Guinea through value chain upgrading and direct support to new and existing base-level entrepreneurs.
Equatorial Guinea’s economy is highly dependent on oil revenues and there is limited engagement of Equato-Guineans in other sectors of the economy. Potential entrepreneurs in Equatorial Guinea face a number of challenges including high costs of labour and other inputs relative to other countries in the region; skills and wider human capital challenges; and a high degree of competition from foreign-owned companies and imported products in many sectors. Recognising these constraints and the small number of locally-owned Micro, Small and Medium-sized Enterprises in Equatorial Guinea, Montrose has been contracted to implement a five-year social investment programme focussing on developing base-level entrepreneurs.
The project will focus on identifying and upgrading value chains where there is or can be a high level of participation by Equato-Guineans; identifying and providing training, mentoring and business development services to new and existing entrepreneurs; and raising the profile of entrepreneurship in Equatorial Guinea. This should, as a result, support long-term diversification and strengthening of the Equatorial Guinea economy.
The primary focus will be on base-level enterprises owned by Equatorial Guinea nationals from low and middle income groups within the country. The first phase of the project will focus on value chain development in targeted subsectors including pineapples and aquaculture, provision of training and technical assistance for the cocoa sector, and business development support for new base-level entrepreneurs.