Gabon unlocks 51 billion FCFA to clear domestic debt for businesses

As Gabon prepares to celebrate its 66th independence anniversary, President Brice Clotaire Oligui Nguema has announced the release of 51 billion CFA francs to settle part of the outstanding debts owed to businesses. This initiative aims to bolster small and medium-sized enterprises (SMEs) and revitalize the private sector’s momentum.

The Gabonese government is accelerating its efforts to clear domestic arrears. With Independence Day on the horizon, the president disclosed that 51 billion CFA francs in outstanding payments will be disbursed to enterprises across the country.

The allocated funds will be distributed as follows: 30 billion CFA francs will target businesses in the mining and timber sectors, while the remaining 21 billion CFA francs will cover debts owed to other companies, with special emphasis on SMEs and mid-sized firms.

The decision follows a high-level meeting between the head of state and representatives from the Federation of Gabonese Enterprises, alongside leaders of SMEs and mid-sized businesses. Held at the Palais de la Rénovation in Libreville, the discussions addressed the challenges faced by the private sector, job preservation, and measures to sustain economic activity.

In the initial phase, the Treasury will mobilize 21 billion CFA francs to honor 1,478 payment orders issued between 2022 and 2026. These enterprises operate in critical sectors of the national economy, including construction, maintenance, food supply, and fuel distribution.

Government officials highlight that this move will strengthen businesses’ liquidity, sustain their operations, and safeguard employment. The announcement forms part of a broader strategy to reduce the state’s domestic debt, which currently stands at approximately 4,652 billion CFA francs.

By systematically addressing these arrears, authorities seek to enhance the operational environment for private enterprises and restore confidence in Gabon’s economic framework. The release of the 51 billion CFA francs marks a pivotal step in this nationwide effort to support local businesses and maintain economic momentum.