Bank of Equatorial Guinea
The Bank of Equatorial Guinea issued the country’s 1979 ekwele series and prepared the provisional notes dated 1980. Its brief banknote record marks the transition from the Banco Popular era to the Central African CFA franc system adopted in 1985.
Quick Facts
Institutional Identity
Banco de Guinea Ecuatorial, translated as Bank of Equatorial Guinea, appears as the issuing institution on Equatorial Guinea’s 1979 national currency. The notes were denominated in ekwele, with the plural bipkwele, and were dated at Malabo after the political change of August 1979.
The bank belongs to the country’s sovereign pre-CFA monetary phase. It should be kept separate from Banco Popular, responsible for the 1975 ekuele issues, and from the Bank of Central African States, which issued the Central African CFA franc after the 1985 transition.
Historical Evolution
The 1979 series removed the portrait of Francisco Macías Nguema following his overthrow on 3 August 1979 and restored the traditional national coat of arms. At the same time, the currency name changed from ekuele to ekwele, whose plural appears on the notes as bipkwele.
A provisional issue dated 21 October 1980 was prepared by overprinting earlier notes with new denominations, dates and signatures. These 1,000- and 5,000-bipkwele notes were not released into circulation. On 2 January 1985, Equatorial Guinea entered the Franc Zone and the ekwele was replaced by the Central African CFA franc at a rate of 1 franc to 4 bipkwele.
Design Philosophy
The 1979 notes replaced the former ruler’s portrait with national subjects and restored the coat of arms with a silk cotton tree. Their reverse designs present specific views of the country, including the Port of Bata, Malabo beach, cacao cultivation, shipping and timber operations.
Spanish text, compact engraved compositions and clearly differentiated portraits give each denomination its own identity. The shared state emblem, typography and security structure nevertheless keep the series visually coherent.
For collectors
For collectors, the change from ekuele to ekwele is essential. A 1975 Banco Popular note and a 1979 Banco de Guinea Ecuatorial note belong to different issuers and catalogue groups even though the currency names are closely related.
The 1979 issues should be checked by denomination, date, signatures and serial format. The 1980 overprints form a separate provisional group and are recorded as unissued, while notes from 1985 onward belong under the Bank of Central African States and the Central African CFA franc.