Equatorial Guinea: A Nation of Unprecedented Wealth and Unconscionable Poverty

Equatorial Guinea, a small oil-rich nation located in Central Africa, has long been acknowledged for its abundant natural resources but similarly condemned for its deep-rooted corruption and nepotism. According to Transparency International’s 2021 Corruption Perceptions Index, Equatorial Guinea remains one of the most corrupt countries in the world.

A ‘Near Perfect Kleptocracy’

Equatorial Guinea is often referred to as a ’near-perfect kleptocracy,’ as political corruption continues to be rampant and systemic. Political elites, headed by President Teodoro Obiang Nguema Mbasogo, are reported to control the government and misappropriate the country’s oil revenues into their secret clandestine bank accounts in other nations.

Brazen Corruption and Nepotism

Equatorial Guinea’s brazen corruption and nepotism are legendary. In the 1980s, the Spanish and Portuguese landowners on Bioko Island were evicted, and their farms were distributed among the ruling class, consolidating the power of the Nguema/Esangui group. Since then, group members have manipulated the power of the government to enrich themselves by diverting revenues from the country’s natural resources into their own accounts.

A Family-Run Business at the UN

Equatorial Guinea is often described as a ‘family-run business’ by foreign diplomats. The immense wealth of its ruling elites and their control over the country’s oil reserves make it difficult to distinguish the government from their private enterprises. Much of the nation’s oil revenues are deposited into secret bank accounts held by shell companies, making it challenging to track the funds.

Elite Wealth vs. Massive Poverty

Despite its wealth, Equatorial Guinea remains one of the poorest nations in the world. The average Equatoguinean lives on less than $1 a day, while President Obiang and his inner circle enjoy luxurious lifestyles in California, Paris, and other parts of the world. The country’s massive poverty and inequality can be attributed to the ruling elites’ indifference towards the well-being of the people and the systematic misappropriation of public funds.

Lavish Lifestyles and Impunity

The ruling class’s corruption is not limited to financial matters. Human Rights Watch reports that the government uses force and intimidation to silence opposition. This impunity has left citizens powerless against the ruling elites’ exploitation and abuse.

Corruption and Human Rights Violations

Equatorial Guinea’s corruption and lack of accountability are linked to human rights violations. According to Freedom House, Equatorial Guinea is one of the worst performers on human rights and civil liberties. Reports of arbitrary detention, secret detention, and unfair trials make it nearly impossible for citizens to hold the government accountable for these abuses.

A History of Expropriation

Equatorial Guinea’s history of corruption includes the expropriation of land from poor and middle-class Equatoguineans. Thousands have been forced from their homes, often with none or minimal compensation. These lands have ended up in the hands of members of the ruling class.

The Exploitation of Natural Resources

Equatorial Guinea’s natural resources, including oil and gas, have become a lucrative source of wealth for the ruling class, who use their political power to limit participation in the exploitation of these resources to themselves and their allies. Foreign companies have been complicit in this corruption, paying exorbitant sums for favors and securing contracts through bribery and rigged bidding processes.

From 1996 to 2013, Equatorial Guinea received a score of 0.0 for ‘control of corruption’ from the Economic Intelligence Unit. In 2014, the country received a score of zero on Transparency International’s Open Budget Index. Despite international pressure, the ruling class continues to siphon off the nation’s wealth, leaving the majority of the population to suffer in poverty.

Conclusion

In conclusion, Equatorial Guinea remains a prominent case study of how wealth and power can lead to corruption and indifference towards the well-being of the people. Transparency, accountability, and the rule of law are essential to address Equatorial Guinea’s systemic corruption and poverty.