🇬🇶 Equatorial Guinea

Equatorial Guinea is mainland Africa's only Spanish-speaking country, a tiny nation of 1.7 million with a GDP of about $12 billion. Oil discovery in the 1990s transformed it from one of Africa's poorest countries to one with the highest GDP per capita on the continent — but the wealth is concentrated in the ruling Obiang family, which has held power since 1979 (the longest-serving president in the world). The capital moved from Malabo on Bioko Island to a purpose-built city, Oyala (now Ciudad de la Paz), in the middle of the rainforest. The contrast between gleaming government buildings and widespread poverty is jarring.

Oil and gas account for about 85% of GDP and 95% of exports. Production has been declining from a peak of 360,000 barrels per day to about 100,000. The US, China, and Spain are the main trade partners. Despite high per capita GDP on paper, about 70% of the population lives below the poverty line. The government has invested in infrastructure — highways, conference centers, luxury hotels — but basic services remain poor.

Equatorial Guinea's Bioko Island has one of the highest primate diversities in Africa, including several critically endangered drill monkeys. The country hosted the African Cup of Nations in 2012 and 2015 despite having almost no football infrastructure — stadiums were built from scratch. Vice President Teodoro Obiang Mangue (the president's son) once owned a $100 million mansion in Paris and a $38 million private jet, seized by French authorities.

Equatorial Guinea is a textbook kleptocracy with declining oil production. Without political change, the post-oil future will be grim for everyone except the ruling family.