Equatorial Guinea is one of the smallest African nations in size and in population, but
with an oil production close to half a million barrels per day, it ought to have been the
richest country of the continent by per capita income.
However, more than half of its 1.6 million people still live in poverty, according to a 2013
World Bank report. Behind the impressive state buildings and five star hotels in its island
capital Malabo and largest city Bata, hid several slums where citizens live in plank
houses and barely roofed homes.
Only an observant visitor would see the life behind the showcasing of huge road and
housing infrastructure under construction in the cities of the central African country.
Colloquially, locals refer to their country with pride as Guinea Petrol. They say they
have oil money and that is why the place remains one of the most expensive in the
world. It scares strangers away to the desire of many indigenes who believe too many
strangers are migrating to their country to seek for greener pastures.
However, the much-cherished high
standard of living also affects even
citizens as well, mostly the working
class and the few business people.
A primary school teacher in
Equatorial Guinea earns nothing
less than 400,000 francs ($800)
per month, which some university
lecturers in other countries of the
region don’t get. But much of that
pay is splashed on fixed expenses
such as housing, feeding,
transport which leaves the earner
with little or nothing thereafter.
Seven plantains, a staple food in the country, cost 2000 francs ($4), the price for
almost four bags of plantain in neighbouring Cameroon which supplies most of the
food items to Equatorial Guinea.
“The problem here is Equatoguinean do not want to get themselves involved in a
number of business activities, subsistence or commercial agriculture, etc, which are
being filled by foreigners who don’t hesitate to fix their own prices because they pay
high taxes and are sometimes forced to pay bribes to traffic police,” Isko Maye, an
economist and business consultant at Malabo-based Gimnac tells African Sports
Monthly.
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