EQUATORIAL GUINEA

CURRENCY:

CFA Franc (CFA = Communauté Financière Africaine) - XAF

DENOMINATIONS:

NOTE: XAF10,000, 5,000, 2,000, 1,000 and 500.

COIN: XAF500, 100, 50, 25, 10, 5 and 1.

Please note the CFA Franc is tied to the Euro. Chad is part of the French Monetary Area. Only currency issued by the Bank of Central African States (Banque des Etats de l’Afrique Centrale) is valid - currency issued by the Bank of West African States(Banque des Etats de l’Afrique de l’Ouest) is NOT VALID here.

US DOLLAR ACCEPTED?

Yes, widely.

CREDIT/DEBIT CARDS AND ATMS:

CREIT CARDS, CHEQUES ARE NOT ACCEPTED. ATMS ARE NOT AVAILABLE. The economy in Equatorial Guinea is CASH ONLY.

CURRENCY EXCHANGE:

There are not many banks, therefore currency exchange is tricky.

TRAVELLER'S CHEQUES:

Not advised. These are unlikely to be accepted.

BANKING HOURS:

Mon-Sat 0800-1200. Note there are not many banks in Equatorial Guinea.

CURRENCY RESTRICTIONS:

Declare on arrival. No further details given.

COUNTRY OVERVIEW:

Equatorial Guinea's full name is the Republic of Equatorial Guinea, and is a very small country in Central Africa. It is one of the smallest countries on the continent of Africa, as well as being the smallest member of the United Nations. There are several areas to this country, including a number of offshore islands. It is rare in Africa for having Spanish as the official language. Interestingly, none of the territory of Equatorial Guinea sits on the equator - despite its name. The capital is Malabo.

POPULATION:

Around half a million.

ECONOMY:

Before Equatorial Guinea gained independence, it had the highest per capita income of Africa, and the main hard currency earner was cocoa. In the mid 90s, oil reserves were discovered which has improved the the economic situation there. Main elements are farming, fishing and forestry. Most of the populace of Equatorial Guinea lives in poverty.