Housing Finance in Equatorial Guinea


This profile is also available in French here.

To download a pdf version of the full 2019 Equatorial Guinea country profile, click here.

Equatorial Guinea is composed of a mainland, Rio Muni, and small islands, including Bioko where the capital Malabo is located, Annobon, Corisco, Elobey and others. According to the 2015 census, Equatorial Guinea’s population is 1.225 million
people. The government of Equatorial Guinea has invested heavily in building modern infrastructure which includes an interconnected transportation network of roads, airports and seaports and an electrical grid with capacity to cover 95 percent of the nation’s energy requirements.

Equatorial Guinea’s banking sector is small and concentrated with six banks – National Bank of Equatorial Guinea (BANGE), BGFI Bank, Commercial Bank of Guinea, Caisse Commune d’Epargne et d’Investissement Guinée Equatoriale. Afriland First Bank and Ecobank. Three of these hold over 80 percent of industry assets.

Up-to-date key statistics on the finance industry are not readily available. Available 2017 figures show lending rates of 15 percent, and deposit interest rates at 2.45 percent. Bank non-performing loans were reported at 27 percent. In 2016, Equatorial Guinea was reported as having 9.15 ATMs and 4.89 commercial bank branches per 100 000 adults. It had 21.74 borrowers, 205 depositors and 344 bank accounts per 100 000 adults, making its per capita rates relatively high compared with other countries in the region.

The country’s most recent household survey was conducted in 2006. At that time, it was reported that over 79 percent of the rural population and 30 percent of the urban population were living below the poverty line. While no average price of housing is available, a general sense of the cost of a house is obtainable. The cheapest government-built house is CAF8 million, available through rent to own. Within the private sector, according to one source, the price per square meter for an apartment in the city centre is CAF447 000 (US$755).

Equatorial Guinea’s score for Doing Business in 2019 is 41.94 out of 100, giving it a global ranking of 177 out of 190. This is three years of decline, with the last ranking at 162. The land administrative system and cadastre are largely paper-based,
transparency of the system is low with no officially available statistics tracking land transactions, and there is no service by the state to deliver binding documentation
or maps showing ownership, on request.

The limited finance market with restricted access also does not target lower income earners, and there are no innovative housing financing products. There is therefore
potential to introduce such products, for example housing microfinance.

Find out more information on the housing finance sector in Equatorial Guinea, including key stakeholders,important policies and housing affordability:

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2019 edition, which has up-to-date profiles for 55 African countries.

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