Sao Tome and Principe Industry
The industrial sector is small. There are only about 50 medium-sized companies. Most of the others are small companies with a maximum of a few employees.
The companies produce printed matter, bread, fish products, palm oil, soft drinks, spirits, beer, soap, clothing, oil, bricks and more. Production is primarily for the local market, but some clothing is exported.
To gain access to loans from international lending institutions, the government has privatized state-owned companies. Most major state-owned companies, such as the airline, telecom and oil companies, are now wholly or partly privately owned. After the discovery of oil, foreign companies have started investing in the country’s banking system. Remaining in state ownership are strategic companies such as the water and electricity companies.
- COUNTRYAAH: List of top trading partners of Sao Tome and Principe. Includes countries that imported most shipments from and exported most goods to the country.
Prime Minister Jorge Lope’s Bom Jesus new MLSTP / PSD-dominated government takes office.
New Prime Minister
President Carvalho appoints Jorge Lope’s Bom Jesus from MLSTP / PSD as new Prime Minister.
The Trovoada government resigns
President Carvalho dissolves Prime Minister Trovoada’s government.
ADI will be the biggest choice
In the election to the National Assembly (Parliament’s lower house), the ruling party ADI wins almost 44 percent of the vote and becomes the largest party in the Assembly with 25 seats. Almost as many votes are given the second choice, MLSTP / PSD, with just over 42 percent and 23 seats. An election alliance between the Party for Democratic Assembly (PCD), the Union for Democracy and Development (UDD) and the Democratic Movement of the Renewable Forces (MDFM) receives almost 10 percent of the vote and 5 seats. Another small party gets 2 seats. It is unclear who will rule, as ADI is seeking support from the small party, while MLSTP / PSD is launching government negotiations with the tripartite coalition.
Free Trade Agreement in Africa
São Tomé and Príncipe are one of 44 countries to sign a Free Trade Agreement at the African Union Summit in Rwanda. The agreement must be ratified at the national level before the AFCFTA free trade area can become a reality, but it is seen as a historically important step towards increased trade exchange within Africa.