Money and Costs
Bargaining is not the custom in Equatorial Guinea.
The currency is the Central African Franc as used across the region (CFA). It is stable at CFA655 to the euro, and CFA600 to the US dollar.
ATMs can be found at all banks in Malabo and Bata, but not elsewhere. They often don't work, only take Visa cards and only give small amounts (usually no more than CFA100,000 per day), meaning frequent trips to the bank. Note that many ATMs start to run dry from Thursday evenings in anticipation of the weekend. This is particularly noticeable towards the end of the month.
You can change euros or US dollars at banks in most towns or bureaux de change such as Pecunia Express that has branches in both Malabo and Bata.
Credit cards can only be used in top-end hotels and restaurants. Local airlines and car-hire agencies do not generally accept credit cards.
You cannot withdraw cash over the counter in banks using your credit card.
Cash is king in Equatorial Guinea. Make sure you have plenty of foreign currency to exchange for large purchases such as airline tickets.
Travellers cheques are not accepted in Equatorial Guinea.
Tipping is not expected in most restaurants and hotels. However, at those frequented by expats, staff have come to expect a tip. Guides and private drivers also appreciate a tip of around 10%.
For current exchange rates, see www.xe.com.
Central African Franc (CFA)
Budget: Less than CFA100,000
- Double room in budget hotel: CFA20,000–35,000
- Bottle of water: CFA1000
- Bowl of pepe soup: CFA3500
- Short taxi trip: CFA500
- Double room in hotel: CFA50,000–90,000
- Lunch and dinner at restaurants: CFA25,000–35,000
- San Miguel beer: CFA1500
Top End: More than CFA250,000
- Double room in hotel: CFA116,000–400,000
- Round of golf at the Sofitel Sipopo Le Golf, Malabo: CFA80,000
- Private tour of Bioko Island: CFA130,000
- Glass of French wine: CFA3000