As Gabon prepares to mark 66 years of independence, President Brice Clotaire Oligui Nguema has unveiled a 51 billion FCFA fund to settle a portion of outstanding debts owed to businesses. The move aims to bolster small and medium enterprises (SMEs) and revitalize the private sector’s momentum.
Gabon’s government is accelerating efforts to clear its domestic debt. With Independence Day on the horizon, the president announced the disbursement of 51 billion FCFA to settle business claims.
Of this amount, 30 billion FCFA is earmarked for companies in the mining and timber industries, while the remaining 21 billion FCFA will address debts across other sectors, with priority given to SMEs and mid-sized firms.
The decision follows a high-level meeting between the president and representatives from the Federation of Gabonese Enterprises, along with leaders of SMEs and mid-sized businesses. Held at the Palais de la Rénovation in Libreville, discussions centered on challenges facing the private sector, job preservation, and measures to sustain economic activity.
In the initial phase, the Treasury will allocate 21 billion FCFA to honor 1,478 payment orders issued between 2022 and 2026. These companies operate in critical sectors, including construction, maintenance, food supply, and fuel distribution.
For officials, this initiative is designed to strengthen corporate cash flow, sustain operations, and safeguard employment. The announcement aligns with a broader government strategy to gradually eliminate the country’s domestic debt, currently estimated at 4,652 billion FCFA.
By addressing overdue payments to the private sector, authorities aim to improve business operating conditions and restore confidence in the national economy. The release of the 51 billion FCFA marks a pivotal step in this effort to revitalize Gabon’s private sector and maintain economic momentum.
