Equatorial Guinea News
News
President Obiang Launches "Vision 2035" Economic Plan
President Teodoro Obiang Nguema Mbasogo unveiled a $10 billion diversification strategy to reduce oil dependence, focusing on agriculture, tourism, and renewable energy. Critics question transparency amid ongoing corruption allegations.
Malabo Hit by Rare Earthquake
A 4.7-magnitude quake struck the capital, causing minor damage but no fatalities. Geologists warn of potential aftershocks along the Gulf of Guinea fault line.
Business News
TotalEnergies Discovers New Offshore Gas Field
The French energy giant confirmed a 2-trillion-cubic-foot natural gas deposit near Bioko Island, potentially boosting LNG exports by 20%. Shares in GEPetrol rose 8%.
China Funds New Deep-Sea Port in Bata
A $500 million Chinese investment will expand Bata’s port capacity, positioning it as a regional trade hub competing with Douala (Cameroon).
Economic News
GDP Contracts 1.2% Amid Falling Oil Prices
Despite gas gains, lower crude revenues pushed the economy into recession. The IMF urges "urgent fiscal reforms" to stabilize the CFA franc.
Inflation Soars to 11.3%
Food prices spiked due to import bottlenecks, with rice now 40% costlier than in 2024. Government subsidies on staples begin July 1.
Political News
Obiang’s Son Denies Coup Plot Allegations
Vice President Teodoro Nguema Obiang Mangue ("Teodorin") dismissed rumors of a power struggle after military reshuffles. Opposition leaders demand "proof or retraction."
EU Criticizes Human Rights Record
The European Parliament passed a resolution condemning "systematic repression" ahead of December’s elections, threatening sanctions.
Election News
Opposition Coalition Forms Ahead of December Vote
Five parties united under the "Front for Democratic Change", though analysts predict another PDGE (ruling party) landslide.
Electoral Commission Bans International Observers
The government barred AU and UN monitors, claiming "sovereignty concerns." Mobile voting stations will debut in rural areas.
Employment News
Oil Sector Layoffs Hit 3,000 Workers
With production cuts, Chevron and Marathon Oil downsized expat staff. Locals protest "foreign hiring bias" in remaining roles.
New Tech Hub Trains 500 Youth in Coding
The Malabo Digital Academy, funded by the African Development Bank, aims to create 1,000 IT jobs by 2026.
Business News
BGFIBank EG Shares Plummet 15%
The pan-African bank’s stocks crashed after money laundering allegations. Regulators froze accounts of 3 senior executives.
Agriculture ETF Launches on BVMAC
The "Sembrar EG" fund tracks investments in cocoa, coffee, and palm oil—key diversification targets.
Forecast
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Malabo: Heavy rain, 26°C (79°F), 90% humidity
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Bata: Thunderstorms, 29°C (84°F)
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Annobón: Sunny, 31°C (88°F)
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Mongomo: Foggy mornings, 25°C (77°F)
Entertainment News
Afro-Pop Star Blas Cárdenas Tours Nation
The Equatoguinean artist will perform in Bata, Ebebiyin, and Malabo from June 28-25.
Upcoming Events (june 20-30, 2025)
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June 26: Day of the African Child (Nationwide school events)
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June 28: National Cocoa Festival (Evinayong)
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June 20: World Refugee Day Forum (Malabo)
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June 21: Equatorial Guinea vs. Nigeria (World Cup qualifier)
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June 22: Traditional Fang Dance Competition (Mongomo)
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June 24: Film Screening: "The Writer from Malabo" (CCEM)
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June 25: Independence Day Military Parade (Malabo Boulevard)
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June 27: Jazz à la Plage (Sipopo Beach)
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June 28: Miss EG Beauty Pageant (Bata Stadium)
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June 30: Oil & Gas Conference (Sipopo Conference Center)
Key Takeaway: Equatorial Guinea balances energy transition pressures with authoritarian governance, while youth push for digital opportunities.
Note: All economic figures in USD. Forecast data from INMEGE (National Meteorology Institute).
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