How Equatorial Guinea turned oil into wealth

The government is building thousands of rent-to-own apartments and villas under its social housing plan. PHOTO | COURTESY

For one of the wealthiest countries in Africa, Equatorial Guinea is relatively obscure. Not much is heard of the small country with big ambitions.

Equatorial Guinea has a gross domestic product (GDP) per capita (per person) of Sh923,000 or 4.5 times more than Kenya’s Sh203,000, according to the latest estimates from the International Monetary Fund (IMF). That puts it ahead of all African countries, save for the richer island nations (Seychelles and Mauritius).

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Note: The results are not exact but very close to the actual.