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Prime Minister Manuel Osa Nsue Nsua chaired a meeting in Malabo on Tuesday focused on financial discipline, tax compliance and the restructuring of public entities. The Government called for greater accountability in managing resources and implementing the measures adopted.
Settling debts to SEGESA
At this second meeting of the year on the issue, SEGESA’s director general presented the outstanding electricity debts. Some entities have already made their payments, while others remain in arrears. The absence of certain officials from meetings convened to find solutions was also highlighted.
Participating entities outlined their difficulties and proposals. In response to non-compliance, the Prime Minister warned that the Government could deduct amounts directly from the subsidies of entities that fail to regularise payments to SEGESA.
To support monitoring, participants recommended classifying customers according to their financial position and solvency and promoting agreements to settle outstanding debts. It was also proposed that SEGESA consider possible compensation mechanisms for losses caused by power outages.
The parties have a week and a half to reach concrete agreements. A third meeting will then assess the results and take final decisions on unresolved cases.
Tax and social security obligations
According to figures presented by the Ministry of Finance, entities that regularly meet their tax obligations remain a minority. The Prime Minister warned that, from 1 January 2027, no payments will be made to entities that have not put their accounting records, tax obligations and legally required documentation in order.
The Ministry of Finance must send the new law on contracts to the entities so they can adapt their procedures to its provisions.
On social security matters, the National Social Security Institute (INSESO) was asked to provide a list of entities with unpaid employee contributions. The meeting also examined the situation of workers whose contracts have yet to be duly regularised.
Restructuring and sustainability
The Government reiterated that restructuring measures are mandatory and expressed concern over actions that depart from established guidelines. The Ministry of Finance explained that the restructuring committee’s new approach focuses on restoring fiscal soundness and ensuring the sustainability of public entities.
Cooperation between entity managers and the specialist firms hired to audit and assess their management is considered essential. This work should verify compliance with the measures adopted, improve accounting systems and identify opportunities to increase efficiency, productivity, service quality and returns on public assets.
Through this oversight, the Government aims to address identified shortcomings, strengthen transparency and ensure responsible and efficient management of public resources.
Source: Press Office of the Prime Minister’s Cabinet (PressPM) / PDGE Press Department.
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