The Bioko Chamber of Commerce recently opened a training program aimed at enhancing the labor and financial management skills of businesses and entrepreneurs in Equatorial Guinea. The program was launched by Gabriel Suakin Baulin, Secretary General of the Chamber. The training is being technically directed by ilende and Partners, with sessions led by professionals from the firm, including regional director Catalina Mangue Ondo Biye and Rosa Vizcarro Mbela.
The training program comes at a critical time for Equatorial Guinea, as the country implements the African Continental Free Trade Area (AfCFTA). This new trade zone will enable businesses to compete not only domestically but also in international markets, such as Nigeria and those within the Central African Economic and Monetary Community (CEMAC). To remain competitive, businesses must adopt decent work practices and enhance their operations.
The Bioko Chamber of Commerce plays a vital role in supporting the private sector, serving as the official interlocutor between the sector and the government. The Chamber's goal is to create employment opportunities that can compete in the AfCFTA market, with businesses that generate revenue, create jobs, and inspire growth. The training program is designed to equip businesses and entrepreneurs with the necessary skills to achieve this goal.
The training program consists of two modules. The first module, focused on labor management, was led by Víctor Manuel Ondo Mope and Pedro Ndong Mituy. They covered topics such as company structure, formalization, telework, mobility, and collective relations. The second module, focused on financial management, was led by Pedro Nolasco Ndong Nsogo Mangué and Crispín Ekang Mba Andeme, who discussed cost structure, treasury management, taxation, and financing options.
The program also addressed the issue of telework, which is not a new form of employment but rather a modality of service provision. Under the new Labor Law, introduced by Law No. 6/2026, employees can request to switch to telework or return to on-site work. The law establishes guarantees for workers, including protection and safeguards for those who work remotely.
The second module of the program covered financial management topics, including cost structure, cash flow management, taxation, audit preparation, financing options, and feasibility studies. The trainers emphasized the importance of sound financial management in ensuring the sustainability and competitiveness of businesses.
The Bioko Chamber of Commerce aims to promote rapid economic diversification and support the growth of the digital economy among young people through this training program. The program is seen as a starting point for enhancing the skills and competitiveness of businesses and entrepreneurs in Equatorial Guinea.
Key points
- The training program aims to equip businesses and entrepreneurs with the necessary skills to compete in the African Continental Free Trade Area (AfCFTA).
- The program focuses on labor and financial management, covering topics such as telework, company structure, and financial planning.
- The Bioko Chamber of Commerce plays a vital role in supporting the private sector and promoting economic growth in Equatorial Guinea.
