Equatorial Guinea has a population of 1.477 million and is ranked number 31 in Africa according to the nominal GDP ($ 12.53 billion). Equatorial Guinea is one of the fastest-growing economies in Africa after the discovery of natural gas and petroleum. More so, it is transitioning from a  planned economy to a mixed market economy.

The minimum wage in Equatorial Guinea is 129,035 Francs per month.

Payroll is done on a regular basis, and providing employees with online payslips is appropriate in Equatorial Guinea.

Employees in Equatorial Guinea pay income taxes according to their incomes as follows;

0-1,000,000: 0%

1,000,000-3,000,000: 10%

3,000,000-5,000,000: 15%

5,000,000-10,000,000: 20%

10,000,000-15,000,000: 25%

15,000,000-20,000,000: 30%

20,000,000-and above: 35%

Additionally, employers contribute 1% of the gross salary to the work protection fund and 21.5% to social security. On the other hand, employees contribute 0,5% of the net salary to the work protection fund and 4.5% to social security.

Parental Leave

All-female employees are granted 12 weeks of maternity leave, split halfway between before and after birth. There is, however, no statutory paternity leave for male employees in Equatorial Guinea.

In Equatorial Guinea, employees are entitled to severance pay of 45 days’ salary after completing their contract for every year they work. This is equivalent to 3.75 days a month. Notably, a notice is required depending on the reason for termination, and the employer is expected to give valid reasons for the termination.