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Political elite has failed Africa

Teodoro Obiang Nguema Mbasogo

Teodoro Obiang Nguema Mbasogo, President of Equatorial Guinea and president of the Democratic Party of Equatorial Guinea (PDGE), speaks during a press conference at the congress hall in Bata, Equatorial Guinea, on November 25, 2021. 

Photo credit: AFP

What you need to know:

  • In fairness, few African countries are as bad as Equitorial Guinea. 
  • And there are countries that are genuinely well run. Ghana is a good example, Botswana is another.

Kenya will be 58 in a matter of days. In the last couple of days, I chanced upon an old 60 Minutes Australia report on YouTube about Equatorial Guinea. And the story of Equatorial Guinea, and its leader Theodore Obiang’ Nguema Mbasogo, has lessons about us and the problems we encounter developing our countries.

At the time of that report, the country was awash with petrodollars, having discovered huge deposits of oil. The US oil giant that was pumping that oil had stiffed the Equatorians, paying them only 11 per cent of the value of the oil, rather than the usual 60 per cent, if I heard well.