Africa Monitor

Africa Monitor Intelligence

Equatorial Guinea: Afreximbank in Malabo´s Sight for Financing

Equatorial Guinea will rely on the African Export-Import Bank (Afreximbank) to finance itself, four years after becoming a member of the institution. The delays in Malabo's financial commitments as a shareholder of the bank compromised the obtainment of financing, a situation that has only now been regularized, according to close sources. The increase in hydrocarbon prices on the international market allowed Malabo to increase revenues in recent months, freeing up funds to become a “de facto” shareholder. READ MORE