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Equatorial Guinea President’s Nephew Jailed for Embezzlement

A nephew of Equatorial Guinea’s President Teodoro Obiang Nguema, Baltasar Ebang Engonga, has been sentenced to eight years in prison for embezzlement, marking a dramatic fall from grace for the once-powerful official. Engonga, nicknamed “Bello” for his good looks, was the former head of the National Financial Investigation Agency. A court ruled that he had diverted public funds for personal use, alongside five other officials who allegedly misappropriated money meant for travel allowances ranging from $9,000 to $220,000. His case drew international attention last year when sex tapes allegedly involving him were leaked online. The scandal erupted while he was in detention on charges of funneling millions into secret offshore accounts in the Cayman Islands. Many of the leaked videos appeared to show him with women connected to the country’s political elite, further fuelling controversy. The videos’ authenticity was never […]

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Ghana to Host Digital Assets Summit Africa 2025

The countdown is officially on as Ghana prepares to host the first-ever Digital Assets Summit Africa (DASA) 2025, scheduled for 29–30 September at the Ghana–India Kofi Annan Centre of Excellence in ICT. Organised by Promark Elite Ltd. in partnership with major financial and technology stakeholders, the two-day event is themed “Unlocking Africa’s Digital Economy Through Innovation & Regulation” and promises to be the most influential gathering of digital asset leaders on the continent. The summit will bring together central banks, securities regulators, stock exchanges, fintech pioneers, blockchain innovators, institutional investors, and policy experts from across Africa and the world. Discussions will focus on regulatory frameworks, tokenisation of traditional assets, blockchain-powered financial inclusion, and the integration of artificial intelligence into financial services. “This is not just a conference; it is Africa’s opportunity to design the blueprint for a tokenised digital economy,” […]

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Court Jails Baltasar Engonga 8 Years for Embezzlement

A court in Equatorial Guinea has sentenced Baltasar Ebang Engonga, a former senior government official, to eight years in prison for embezzlement. The Bioko Provincial Tribunal found Engonga, who previously headed the national financial investigation agency, guilty of diverting public funds allocated for official travel to personal use. According to Hilario Mitogo, Press Director of the country’s Supreme Court, Engonga was convicted alongside five other senior officials for embezzling hundreds of thousands of dollars. Scandal and Conviction Engonga, popularly known as “Bello,” attracted global attention in November 2024 when explicit videos involving him and the wives of other officials surfaced online. Some of the videos were allegedly recorded in his Ministry of Finance office, sparking outrage and widespread ridicule. The scandal fueled a wave of social media parodies, including songs, dances, and memes that mocked him with references to a […]

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