According to ABiQ, Equatorial Guinea’s population will reach 1.7 million by 2030 from 1.4 million. That’s a growth rate of 24% over a period of 10 years.
Equatorial Guinea is a middle-income country. The economy was heavily dependent on cocoa and timber earlier. Now it is dependent on petroleum after the discovery of oil reserves. The country had a GDP of $14 billion or almost $9,000 per capita in 2019. The country has been one of the fastest-growing economies in Africa over the past decade
Power and Water:
Over 70% of its population has access to electricity. The country aims to provide universal access to electricity by 2030. We expect the country will require 15 megawatts of electricity generating capacity over the next decade to maintain the existing access rate.
More than half the population lacks access to potable water. The rural areas have poor water infrastructure. More investment is required to improve the access rate. We expect the country will require 25 million cubic metres of additional potable water per annum over by 2030 to improve the existing coverage.
The retail market is small and limited in size at the moment but there are plans to build new malls. We expect the country will need 40,000 square metres of additional retail space to meet the growth in the retail sector.
The government hasn’t invested much in healthcare and as a result, progress in this sector has been low. More focus and investment is required to improve the current healthcare system. We expect Equatorial Guinea will need 2 hospitals by 2030 to meet the needs of a growing population.
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|Population in 2020||1.4 million|
|Population by 2030||1.7 million|
|Population growth from 2020 to 2030||24 %|
|GDP 2019 (est)||$ 14 bn|
|Electricity Capacity required by 2030||15 MW|
|Additional Potable Water required per annum by 2030||25 million m3|
|Additional retail by 2030||40,000 m2|
|New Hospitals required by 2030||2|