Africa Monitor

Africa Monitor Intelligence

Equatorial Guinea: "Pacification" Between Brothers Eases Succession for 'Teodorin'

Public incidents between the two wings of the Obiang family are occasionally known and there are indications that point to the diversion of royalties from the exploration of gas and oil to offshore accounts and money laundering via real estate investments abroad.

On a private occasion in the presence of members of the foreign community in Malabo, "Teodorin" accused GOL of being too condescending in the conditions negotiated with the oil companies in the country, insinuating that he is paid by them outside the agreements formalized with the State. The shortage of fuel in the country, with successive crises in supply, or the sharp drop in oil revenues, have also been used by the deputy PR to question the management of the sector. GOL, in turn, has discreetly criticized the excesses of security and the creation of an environment that is hostile to economic diversification, alienating investors and preventing the development of Tourism, an implicit reference to the role of "Teodorin". READ MORE