Since the political transition began in August 2023, the Gabonese public sector has increasingly relied on the Burkina Faso-based construction giant EBOMAF. Founded by businessman Mahamadou Bonkoungou, the company has secured over 700 billion Central African CFA francs in public contracts across Gabon in less than three years—a volume unprecedented for a single foreign operator in the country. Their portfolio now includes critical infrastructure projects such as major road networks, the Andem Airport expansion, and Libreville 2, the new administrative capital spearheaded by transitional president Brice Clotaire Oligui Nguema.
EBOMAF’s rapid ascension in Gabon’s public procurement landscape raises concerns not only about the scale of its operations but also about the lack of competitive bidding transparency. Major infrastructure announcements almost exclusively feature the same contractor, with little public detail on procurement processes. The projects span hundreds of kilometers of roadways, airport upgrades, and a sprawling urban development aimed at alleviating pressure on Libreville’s infrastructure.
Dominance in public contracts: a double-edged sword
The concentration of contracts under a single operator limits the Gabonese government’s flexibility in managing public finances. With oil revenues declining in recent years, the country’s already fragile debt situation has drawn scrutiny from international financial institutions. When one company handles design, execution, and even pre-financing of multiple megaprojects, the state’s negotiating power diminishes significantly.
Budget transparency under scrutiny
While EBOMAF claims to have secured over 700 billion FCFA in contracts, Gabonese authorities—including the Ministry of Public Works, the Ministry of Public Accounts, and the Audit Court—have not released a consolidated public report detailing these commitments. The absence of a unified financial dashboard obscures how funds flow: direct payments from state coffers, bank pre-financing, and possible compensation mechanisms remain unclear. This opacity fuels concerns about treasury management.
Key questions persist: Which institutions validate cost breakdowns? Which banks handle the financial flows? What sovereign guarantees secure the pre-financing arrangements? International financial institutions like the IMF and African Development Bank advocate for regular disclosures of commitments and disbursements. Yet, the silence from Gabonese institutions contrasts sharply with the highly publicized inauguration ceremonies of completed projects.
Evaluating the pre-financing model
EBOMAF has built its regional reputation on an integrated model combining technical execution with bank-backed pre-financing, often secured through West African financial institutions. This approach enables cash-strapped governments to initiate large-scale projects without immediately tapping fiscal resources. However, it shifts the repayment burden to future budgets, where costs depend heavily on negotiated financial terms.
The model has allowed EBOMAF to establish a strong presence in countries like Burkina Faso, Côte d’Ivoire, Togo, and Senegal. Yet, it has also sparked recurring controversies over interest rates, potential cost overruns, and the quality of delivered infrastructure. Given Gabon’s transitional political context, a thorough review of the financial clauses and oversight mechanisms tied to these contracts is essential.
For Gabon’s financial partners, the stakes extend beyond operational performance. The credibility of the transitional government’s fiscal trajectory and the long-term sustainability of its debt service—especially post-electoral transition—are at risk. Releasing a consolidated report on EBOMAF-related commitments would signal a commitment to transparency, particularly as multilateral lenders reassess their exposure to Gabon’s sovereign risk.
The concentration of major infrastructure projects in the hands of a single operator also raises concerns for Gabon’s local construction ecosystem. Domestic firms, often relegated to subcontracting roles, struggle to scale up due to limited access to high-value contracts. The question of accountability—who oversees EBOMAF’s financial dealings in Gabon—remains unanswered.
