Equatorial Guinea - Money & Costs
Money & Costs in Equatorial GuineaCurrency: Central African CFA Franc
While Equatorial Guinea is not the cheapest place in Africa, it's also not the hottest or sandiest, which makes it quite attractive. And although those on a tight budget can stay put in the capital of Malabo for under US$15 a day, you can live a lot more comfortably in a hotel, and eat better food, for around US$40. If it's a top-end lifestyle you're seeking, look elsewhere. It's hard enough locating an expensive restaurant, let alone finding a top hotel to stay at. Given that the two provinces of Equatorial Guinea are split by a couple of hundred kilometres (over 125mi) of water, hire cars are a pointless option. They're expensive on Bioko and non-existant in Rio Muni. Travel by foot, taxi, truck and minibus are the best options.
There is only one bank in Malabo and one in Bata with currency exchange facilities. Exchange from euros is easy, however other currencies occasionally provide difficulties. Always keep your purchase receipt - unlike most other African countries, it's routinely requested in Equatorial Guinea.
Tipping is expected in the more expensive places and in those frequented by tourists. Basically, if you look like a hitchhiker, take buses or shared taxis and eat at African restaurants, you won't be expected to tip. If you're clean-cut and look rich you'll probably be expected to tip 10% in restaurants, hotels and taxis. The same rule applies whether you're a Westerner or a wealthy African.