Africa's Oldest Oil-Rich Dictatorship Has a Succession Problem [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
they were arrested for cocaine trafficking and thrown in jail, where they remain. Both men, their families and their employer have declared their innocence. They were detained days after a South African court ordered the seizure of one of Equatorial Guinean vice-president Teodoro Nguema Obiang Mangue's yachts. The two incidents are linked, said people familiar with the matter who declined to be identified due to the sensitivity of the situation. They described the arrests — the first involving foreigners in the country's critical oil sector — as the latest example of the vice-president's impulsive behavior, which threatens the long-term stability of the Central African state that has been ruled by his father for the past 45 years. Teodorin, as he's known, is next in line to succeed his 81-year-old father, President Teodoro Obiang Nguema Mbasogo. Once reliant on cocoa and coffee as main sources of revenue, the discovery of offshore oil in the 1990s made Equatorial Guinea—and specif
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