Equatorial Guinea was known initially as Formosa, the beautiful one but became Spanish Guinea as the only Spanish colony on the continent. The country is situated south of the equator. Equatorial Guinea has a coastline on the Gulf of Guinea and to the north is bordered by Cameroon and Gabon to the south and east. The country is 28,000 square kilometres and one of the smallest on the continent with a population of 650, 702. It is a beautiful country with the bounty of oil and has a high per capita income, as high as France’s in the past. It has the 28th largest Gross Domestic Product. However, most of the population lives in poverty and due to a history of dictatorial management, over a third of Guineans left the country to live mainly in Spain, Latin America and other countries of Europe. The human rights record of Equatorial Guinea is atrocious but in the Human Development Index and 115th overall in the world. The sad history of how oil companies and individuals of countries in the west took advantage of the finding of petroleum in Equatorial Guinea to corruptly influence the economy is a study on how poor governance and international mineral cartels can subject a population to poverty even when they have resources. Perhaps because of the language, Equatorial Guinea being the only country in which Spanish is the official language, populations in the other African countries and in the world know so little about this beautiful gem hugged by the Gulf of Guinea, Cameroon and Gabon. She is frequently mixed up with Guinea and Guinea Conakry both of them neigbouring countries that in the northern bulge of Africa's map.