Guinea-Bissau is reviewing major contracts – including some in the mining sector – that were signed by previous governments, Prime Minister Domingos Simões Pereira told news agency Reuters. Mr Simões Pereira said the review was also aimed at diversifying investment in services such as maritime transport and telecoms.

Fishing and timber contracts would also be analysed to ensure sustainability for resources, he told Reuters in an interview.

Most of Guinea-Bissau’s roughly US$250 million in exports come from fish and cashew nuts, according to the report.

“Today, we want to bring clarity to all contracts that risk posing problems,” the Prime Minister said. “For some, there will be audits, for others an inspection by the Finance Ministry will be enough,” he added.

The Government wants to ensure that contracts ensure a fair return for the country and that the companies awarded them have the means to invest properly.