Gabon tackles overstated public debt in landmark audit initiative

At the close of the Gabon Economic Forum (GEF), Alain‑Claude Kouakoua, President of the Federation of Gabonese Enterprises (FEG), spotlighted a pressing economic concern: the nation’s staggering debt to private companies. While official estimates place this liability at 4,340 billion FCFA, Kouakoua argued the figure is likely inflated. Many claims lack proper documentation or legal validity, he noted, prompting the need for a thorough review.

A joint audit, conducted in collaboration with the dedicated Task Force and the Ministry of Economy, will now separate verifiable debts—those mutually agreed upon—from questionable claims that will not be honored. No repayments will proceed until this assessment concludes. One outcome is already clear: the final debt figure will fall below current projections. Additionally, Kouakoua revealed that roughly 50% of the debt has already been settled since the National Transitional Council (CTRI) assumed office in August 2023. Many companies, having received their dues, chose not to disclose these payments, contributing to lingering uncertainty.

The upcoming debt resolution mechanism aligns with one of the GEF 2026 recommendations. Priority will be given to clearing domestic arrears, including VAT credits and unpaid public contract obligations, through accelerated processes such as securitization and cross-debt offsetting. This initiative will operate under a national clearing program, featuring a published tracking dashboard and a dedicated monitoring committee—the reinstated Libreville Club.

While discussions also addressed public statistics reliability and improvements to the National Health Insurance Fund (CNAMGS), the spotlight remained firmly on the State’s outstanding private sector debt.

For Gabon’s private sector, this move is long overdue. After years of ambiguity, disputes, and delays, a structured, transparent, and verified resolution pathway is finally within reach. Many view this as the essential first step toward rebuilding trust between the State and private enterprises.