Equatorial Guinea to secure first RMDB funding

The Secretary General, Maritime Organisation of West and Central Africa (MOWCA), Dr Paul Adalikwu, said Equatorial Guinea would be the first-line beneficiary of the Regional Maritime Development Bank (RMDB) for vessel financing as well as expansion, upgrade and development of maritime infrastructure.

Adalikwu stated this when he visited the country’s Minister of Transport, Telecommunications and Postal Services, Evito Oma, in Malabo.

Last year, President Bola Tinubu appointed Adeniran Aderogba as President and Chief Executive Officer of the RMDB, headquartered in Abuja.

According to Adalikwu, Equatorial Guinea remains a significant offshore hydrocarbon producer in sub-Saharan Africa, and its participation in maritime trade is a significant contribution to the continent’s blue economy.

He also praised the country for its increasing participation in the organisation’s programmes and decision-making processes.

While briefing Oma on MOWCA’s activities and future programmes, Adalikwu told the minister that the country stands to benefit from the maritime human capital development programmes backed by other international bodies like the African Development Bank (AfDB), governments of Singapore, Malaysia and others.

On his part, Oma restated the government of Equatorial Guinea’s commitment to continually support the MOWCA’s drive for the promotion of a sustainable blue economy across Africa.