AGP Executive Report
Last update: an hour agoCEMAC Currency: Five older CFA-franc coin series will lose legal-tender status in Equatorial Guinea and five other member states on November 1. Holders will have a one-year exchange period, though the locations and procedures are still to be announced. Gas Industry: Equatorial Guinea is aiming to turn Punta Europa into a regional gas-processing and LNG hub. Chevron’s Aseng project should lift feed gas supply, but further sources will be needed to fill the gap as the Alba field declines. Regional Activity: Equatorial Guinea made a modest positive contribution to CEMAC’s economic activity growth in the second quarter, as the bloc’s index rose 5.9% year on year. Agriculture Partnerships: Equatorial Guinea and Egypt agreed to cooperate on agriculture and aquaculture, among other sectors, through memoranda signed at the Alamein Africa Forum.**
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