Corruption in Equatorial Guinea

Corruption in Equatorial Guinea is high by world standards and considered among the worst of any country on earth. It has been described as “an almost perfect kleptocracy” in which the scale of systemic corruption and the rulers' indifference towards the people's welfare place it at the bottom of every major governance indicator or ranking, below nations with similar per capita GDPs.

“Few countries symbolize oil-fuelled corruption and nepotism more than Equatorial Guinea,” wrote Jan Mouawad in the New York Times in July 2009. Its corruption system, according to the Open Society Foundations (OSF), is “unparalleled in its brazenness.” This government is controlled by a limited group of powerful individuals who divert most of the country's revenues into their own clandestine bank accounts in other nations. Equatorial Guinea’s corruption is so entrenched, scholar Geoffrey Wood has claimed, that it can be classified as a criminal state.

This situation is especially dramatic due in large part to the massive scale of the country's revenues from oil and other natural resources. The Guardian stated the “country is enormously wealthy, thanks to its vast oil reserves, but that wealth is concentrated in the hands of a tiny elite.” Despite its GDP per capita of US$32,026 – which makes it richer than any other African country and places it above Spain, Portugal, and Russia – Equatorial Guinea is ranked 136 out of 187 countries in the [[Human Development Index measure of quality of life. While the people of Equatorial Guinea “should have the per capita wealth of Spain or Italy...they live in poverty worse than in Afghanistan or Chad,” said Arvind Ganesan of Human Rights Watch in 2009, attributing this disparity to the government’s corruption, incompetence, and disregard of its own people's well-being. Indeed, most people in Equatorial Guinea remain in abject poverty, with no access to healthcare or education. Meanwhile, any criticism of the ruling class is non-existent due to the government's use of force and intimidation to silence opposition.

Sasha Lezhnev of Global Witness noted in 2008 that the government earns oil revenues in the billions yearly, while the population lives on less than US$1 a day. President Teodoro Obiang is said to have control over the oil reserves and the government, Ganesan claimd, and consequentially the country's immensely rich treasury is “a private cash machine for a few” rather than used for any public benefit. According to the Financial Times, “Foreign diplomats joke that Equatorial Guinea is no more than a secretive family business but one which, as a sovereign country, enjoys a seat at the UN.” The nation is known among foreign businessmen as a poor environment for business and investments. The individual who has become most associated in the international media with the corruption of Equatorial Guinea's leaders is Teodorin Obaing, a son of the president whose lavish lifestyle in southern California, Paris, and elsewhere has made headlines and been the target of investigations by American and French authorities, among others.