Africa Monitor

Africa Monitor Intelligence

Equatorial Guinea: Rising Oil Prices Do Not Relieve Economic Crisis; Foreign Companies Targeted

PR TEODORO OBIANG (TO) and his son and Deputy PR TEODORO (“Teodorin”) NGUEMA OBIANG MANGUE have instructed the government to start a restructuring process for public companies that should also involve privatization of part of the sector, yet to be materialized due to lack of interest from potential foreign investors. In an economy without scale and where the business environment is high risk due to corruption and bureaucracy, the objective of privatizing public companies to compensate for the consistent drop in revenues is considered unrealistic. READ MORE