The Republic of Equatorial Guinea is a Central African nation and one of the smallest nations on the African continent. It is bordered by Gabon and Cameroon. Besides the mainland, the Republic of Equatorial Guinea is made up of five other islands, has a population of 1.7 million people, and has an area of 28,051 square kilometres, making it one of the smallest countries by population and land in Africa. In 1968, the Republic of Equatorial Guinea gained independence from Spain. In theory, Equatorial Guinea has been a constitutional democracy since 1991.


Equatorial Guinea is the only African country where Spanish is an official language. This linguistic distinction can be attributed to the country's colonial past, as it was a Spanish colony until 1968. Spanish and French are the two official languages spoken in Equatorial Guinea, however, Spanish takes precedence in education and media. The ethnic makeup of Equatorial Guinea's populace is remarkably diverse for a political unit so small in size. Each ethnicity possesses its distinct language or dialect. Among these groups, the most prominent include the Bubi, Ndowe, Annobonese, and Fang, with the latter comprising over 85 per cent of the population, making it the country's dominant ethnic group. The religious landscape of Equatorial Guinea is predominantly Christian, with Roman Catholicism being the most widely practiced denomination. African religions or Islam cover the rest.

Over the past decade, Equatorial Guinea has experienced a notable surge in economic growth, establishing itself as one of the fastest-growing economies on the African continent. This robust economic growth is primarily attributed to the country’s heavy reliance on oil production and exports which, constitute a substantial portion of its Gross Domestic Product (GDP) and government revenue, making it one of Africa's wealthiest nations in terms of per capita income with an average per capita income of $8,462.30.

The discovery of oil in the 1990s propelled Equatorial Guinea to become Sub-Saharan Africa's third-largest oil producer, following Nigeria and Angola. This newfound oil wealth sparked significant economic growth and substantial investments in infrastructure development. Oil exports account for approximately 90% of the country's total exports and contribute to around 50% of its GDP. However, despite the country's oil riches, over 70% of the population continues to live in poverty. The benefits generated from oil revenues have not been equitably distributed across the population. Inequality between the elites and the general population is wide.

Unemployment remains a persistent issue due to the dominance of the oil-based economy, which relies heavily on a limited workforce consisting of skilled foreign personnel. Meanwhile, the agricultural sector, which serves as the primary source of employment in Equatorial Guinea, faces an ongoing decline owing to insufficient investment and the migration of rural workers to urban centres.

Also, a significant portion of the mainland region of Equatorial Guinea is enveloped by dense tropical rainforests that have been subject to extensive exploitation by the timber industry. These forests harbour an array of over 140 wood species, with the economically significant ones being okume (Aucoumea klaineana), African walnuts, and diverse types of mahogany.

There are reserves of gold, titanium, manganese, iron ore, and uranium within the country, but these resources have largely remained untapped and undeveloped. Equatorial Guinea also struggles with a significant issue of high illiteracy, with more than 50% of its population lacking the ability to read or write.

The nation operates under an official presidential republic system, where the President assumes dual roles as the head of state and head of government. However, Equatorial Guinea has faced criticism for its authoritative regime and the lack of political freedoms. The President of Equatorial Guinea wields significant authority and has been in office for several decades. Teodoro Obiang Nguema Mbasogo, the incumbent President, has held power since 1979 after a military coup in the same year thus making him one of the longest-serving leaders in the world. The vice president (Teodoro Nguema Obiang Mangue, eldest son of President Obiang) has overall control of the security forces.


Although the country's political landscape has seen some changes, it continues to be characterized by the dominance of a single political party, namely the Democratic Party of Equatorial Guinea (PDGE), led by President Teodoro Obiang Nguema Mbasogo. While opposition parties do exist, they encounter restrictions and challenges.


Freedom of expression and media coverage is limited. Legislative power is vested in both the government and the Chamber of People's Representatives which constitutes the lower house of the parliament.

Security issues:
Equatorial Guinea has a relatively low crime rate and fewer terrorism concerns compared to its African neighbours. While piracy continues to plague the Gulf of Guinea, there is a looming danger that criminal networks involved in maritime piracy might gain confidence and expand their operations beyond international waters. This potential escalation could result in security challenges within Equatorial Guinea itself, including the possibility of piracy-related violence spilling over into its territory. Such incidents have the potential to discourage foreign investors and oil companies from engaging in activities within Equatorial Guinea's maritime boundaries, which are vital to the country's economy.

President Teodoro Obiang Nguema Mbasogo's leadership has been marked by allegations of human rights violations, such as torture, arbitrary detentions, restrictions on freedom of expression and assembly, corruption, and a lack of transparency. These allegations have generated grievances among the population. With the increasing incidents of coups in the continent, political stability within Equatorial Guinea cannot be guaranteed.

The security environment for foreign travellers is generally peaceful and stable, primarily due to the government's robust security presence and strict enforcement of laws. Nevertheless, there remain some risks associated with crime, corruption, and civil unrest, particularly in the capital, Malabo, and the largest city, Bata. Equatorial Guinea's security landscape results from an interplay of geographical, political, and economic factors. Its island-based geography offers both advantages and vulnerabilities, while the political stability characterized by one-party rule raises questions regarding governance and human rights.

Verdict:
Political stability will nonetheless remain fragile throughout the period, owing to power struggles within the ruling family over the presidential succession.
Again, with a maritime potential such as that of Equatorial Guinea, strengthening the national naval sector can be a great long-term strategy to boost the economic gains of the country. Risk is in the upper medium.

image: oil rigs in Equatorial Guinea's oil industry.