Sao Tome’s business owners want water and power company privatized

9 May 2006

Sao Tome, Sao Tome and Principe, 09 May – Sao Tome’s Chamber of Commerce for Retail, Industry, Agriculture and Services has called for the privatization of the state water and electricity company (EMAE), in order to make it more efficient.

The proposal was presented at the end of last week during a meeting between Abílio Afonso Henriques, president of the Chamber and the country’s recently elected prime minister, Tela Non.

The meeting, according to Henriques, served to call on the government “to look carefully at the problem of Empresa de Água e Electricidade (EMAE), in order to take steps to hand that sector over to the private sector.”

Henriques also said that there were business owners in the country interested in and capable of taking part in a privatization.

Sao Tome currently has an electricity production deficit, which ahs led to EMAE rationing supply and has led to losses to businesses.

This problem should be partially resolved when the Contador power plant goes on line, after modernization work, which will increase the archipelago’s installed capacity by 2,000 megawatts.

Recently, the director-general of the company said he hoped to boost production by 30,000 megawatts through private investments and mini hydroelectric dams. (macauhub)