quality:corruption
First European contact and Portuguese rule (1472–1778)

The Portuguese explorer Fernando Pó, seeking a path to India, is credited as being the first European to see the island of Bioko, in 1472. He called it Formosa ("Beautiful"), but it quickly took on the name of its European discoverer. Fernando Pó and Annobón were colonized by Portugal in 1474. The first factories were established on the islands around 1500 as the Portuguese quickly recognized the positives of the islands including volcanic soil and disease-resistant highlands. Despite natural advantages, initial Portuguese efforts in 1507 to establish a sugarcane plantation and town near what is now Concepción on Fernando Pó failed due to Bubi hostility and fever. The main island's rainy climate, extreme humidity and temperature swings took a major toll on European settlers from the beginning, and it would be centuries before attempts restarted.