The context

Equatorial Guinea (1) is a small country located on the west coast of central Africa between Cameroon and Gabon. Its territory consists of two parts, one continental and the other insular with the island of Bioko (where the capital Malabo is located) and the island of Annobón. In 1968, after 190 years of Spanish domination, Spanish Guinea gained independence and took the new name of Equatorial Guinea. From 1968 to 1979, the first president Francisco Macías Nguema imposed a bloody dictation on his population. His nephew, Teodoro Obiang Nguema Mbasogo, the country's current president, succeeded him in power on August 3, 1979 following a coup. Although Equatorial Guinea has been a constitutional democracy since 1991, the president exercises almost total control over the political system by discouraging all opposition and regularly reappears as head of power.

For a long time, the country has operated on scarce resources based on cocoa, coffee and forestry farming. The discovery of oil in territorial waters in the early 1990s disrupted the country's economy. Despite this new economic windfall, Equatorial Guinea still remains today one of the most unequal countries in the world with 70% of the inhabitants living on one dollar a day, according to a report published in 2016 by the United Nations.

Pooling of issues (1985-2002)

The Bank of Central African States (French: Banque des États de l'Afrique Centrale, BEAC) is the main monetary institution of the Economic and Monetary Community of Central Africa (CEMAC) and the central bank common to the six states which constitute it (Cameroon, Central African Republic, Republic of Congo, Gabon, Equatorial Guinea and Chad). Created on November 22, 1972 by the monetary cooperation agreements signed in Brazzaville, it succeeds the Central Bank of Equatorial African States and Cameroon. It has been based in Yaoundé (Cameroon) since January 1977 (2).

1985-1986 Issues

In 1985, Equatorial Guinea entered the “Franc Zone”. The Bank of Central African States then launched an issue of 3 banknotes of 500 francs Type 1985, 1,000 francs Type 1985 and 5,000 francs Type 1985. These three banknotes, identical to those used by the 5 other member states of CEMAC, are personalized on the front with the name of the country (República de Guinea Ecuatorial) repeated in smaller in French (République de Guinée-Équatoriale). The face value and the legal text on the back are also in Spanish.

1993-2002 Issues

Between 1993 and 2002, The Bank of Central African States launched an issue of 5 banknotes of 500 francs, 1,000 francs, 2,000 francs, 5,000 francs and 10,000 francs which have the particularity of being for the first time identical to the six states constituting CEMAC. To identify the banknotes allocated to each country, an alphabet letter and a bar code have been printed on the front:


Example: the 1,000 francs Type 1993-2002 above issued for Equatorial Guinea has the letter "N" and the bar code N ° 5! For information, the year of issue is indicated by the first two digits of the numbering: 00 = 2000 for the photo note.

LetterCountryBar code
CRepublic of CongoN° 1
ECameroonN° 2
FCentral African RepublicN°3
NEquatorial GuineaN°5


2002 Issue

In 2002, The Bank of Central African States launched the range of banknotes currently in circulation, comprising five denominations of 500 francs, 1,000 francs, 2,000 francs, 5,000 francs and 10,000 francs. As for the previous show, each country is identified by an alphabet letter printed twice on the sides of the front but this time, the bar code has disappeared:


Example: the 5,000-franc Type 2002 note above issued for Equatorial Guinea bears the letter “F”.

CountryLetter code
Equatorial GuineaF
Central African RepublicM
Republic of CongoT


(1) "Equatorial Guinea", wikipedia.
(2) "Bank of Central African States", wikipedia.

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