Q. What is the official currency of Equatorial Guinea?
Answer:
Central African CFA Franc
Notes: Equatorial Guinea is a country located on the western coast of Central Africa. Cameroon, to the north, and Gabon, to the south and east, are the only two countries that share land borders with Equatorial Guinea. The west of Equatorial Guinea lies the Bight of Biafra which is one of the two bends of the Gulf of Guniea of the South Atlantic Ocean, other being the Bight of Benin. Thereby, Bight of Biafra/Bight of Bonny of the Gulf of Guinea of the South Atlantic Ocean forms the coastline of Equatorial Guinea. The territory of Equatorial Guinea is divided into two parts, one is the Insular region and the other is mainland region. The insular region of Equatorial Guniea involves two important islands. One is Bioko Island, which houses the capital city of Equatorial Guinea, Malabo. This volcanic island is located in the Bight of Biafra region of Gulf of Guinea. The second island is Annobon Island which is a volcanic island located south of the equator in the Gulf of Guinea. The island country Sao Tome and Principe is located between Bioko Island and Annobon Island, in which all four islands are located in the Cameroon Line. The mainland region of Equatorial Guinea is known as “Rio Muni”, which lies to the south of Cameroon and north-west of Gabon. This region houses Ciudad de la Paz, the planned future capital of Equatorial Guniea and Bata, the country’s largest city. Muni River flows through this region. The Rio Muni continental region of Equatorial Guniea also includes three offshore islands such as Corsico, Elobey Grande and Elobey Chico, in which all three islands are located in the Gulf of Guinea. The capital of Equatorial Guinea is Malabo which is located in the Bioko Island in Bight of Biafra region of Gulf of Guinea, outside the mainland of the country. In 2015, the Government of Equatorial Guinea decided to shift the capital from Malabo to Ciudad de la Paz in the Rio Muni mainland region of Equatorial Guniea citing better access and good climate. The construction of the new capital is in progress since then. The currency of Equatorial Guniea is “Central African CFA Franc” which is the currency of six independent countries of Central Africa such as Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea and Gabon, issued by Bank of the Central African States headquartered in Yaounde, the capital city of Cameroon. The official languages of Equatorial Guinea are Spanish, French and Portuguese. This made Equatorial Guniea as the only sovereign African country in which Spanish is an official language.