Equatorial Guinea, officially the Republic of Equatorial Guinea is a country on the west coast of Central Africa, with an area of 28,000 square kilometers (11,000 sq mi) whose capital is Malabo. The current population of Equatorial Guinea is 1,540,679 as of Thursday, June 29, 2023, based on Worldometer elaboration of the latest United Nations data.

Teodoro Obiang Nguema Mbasogo is the president of Equatorial Guinea since 1979. He is the longest-serving president.

Today, despite the changes in the economy wrought by the dramatic growth of the petroleum industry, the majority of people are still employed in agriculture. Many are subsistence farmers who clear the land by burning off the vegetation cover.

Among the crops grown are cassava (manioc), sweet potatoes, oil palm fruit, plantains, bananas, coconuts, coffee, and cacao. Sheep, goats, pigs, and cattle are raised. Fishing contributes to the economy as well, and the timber industry remains significant.

Substantial reserves of petroleum and natural gas exist under the seafloor of Equatorial Guinea’s offshore waters. Once they began to be exploited in the late 20th century, hydrocarbons quickly dominated the economy.

Petroleum soon became the primary export, and the country’s GDP increased dramatically in less than a decade; it continued to grow in the early 21st century. Deposits of gold, titanium, manganese, iron ore, and uranium exist but remain largely undeveloped

Agriculture contributes to only about 2 percent of the gross domestic product (GDP), reflecting the predominance of the petroleum industry.

According to the North-South Centre of the Council of Europe (2012), Equatorial Guinea is one of the “two countries in Central Africa that still lack national youth platforms.” Equatorial Guinea has signed the African Youth Charter, which according to Africa Youth “aims to strengthen, reinforce and consolidate efforts to empower young people through meaningful youth participation and equal partnership in driving Africa’s development agenda.” However, it has not been ratified.

Equatorial Guinea Combined Country Strategy Paper (CSP) 2018-2022 Midterm Review And 2021 Portfolio Performance Review (CPPR) Report. Through that document, the African Development Bank Group aimed to support the Government of the Republic of Equatorial Guinea in its economic diversification strategy.

Business opportunities in Equatorial guinea

Equatorial Guinea has developed in the global economy means that it is today one of the African countries which offer the greatest business opportunities to companies. Guinea supplies more than 5% of the world’s oil production,….. The government of the Republic of Equatorial Guinea is seeking investment in several underdeveloped sectors: agribusiness; fishing; energy and mining; petrochemicals, plastics, and composites; travel and tourism; and finance.

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