Equatorial Guinea's president Teodoro Obiang Nguema Mbasogo speaking to the United Nations last year (photo:dpa)

Economics: Who benefits from Equatorial Guinea's vast oil riches?

Africa's longest-serving president runs a country which has seen its GDP increase from US$150million to US$25billion in less than 20 years. The wealth is all due to the discovery of huge oil reserves. But how much of this good fortune is shared with the country's tiny population. This report looks at the family running the country.

EQUATORIAL Guinea, one of Africa’s smallest countries, is one of the world’s fastest-growing economies thanks to the discovery of major oil reserves.


It is now the third largest oil producer in sub-Saharan Africa after Nigeria and Angola and oil has created a huge turnround in its fortunes.


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Twenty years ago, Equatorial Guinea’s gross domestic product (GDP) was about US$150 million. This had increased to US$25billion by 2007 following the discovery of oil reserves in 1996
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Who will benefit?
  • Report is targeted to the decision makers in cross country manufacturing – suppliers, manufacturers, logistics.
  • Also considered useful for the administrative university facilities, to better understand the possibe effects of current decisions.
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