Gabon unlocks 51 billion FCFA to clear internal debt to businesses

As Gabon prepares to mark its 66th Independence Day, President Brice Clotaire Oligui Nguema has unveiled a 51 billion FCFA allocation to settle a portion of outstanding debts owed to companies. This landmark initiative aims to bolster small and medium-sized enterprises (SMEs) and reignite private sector momentum across the nation.

The Gabonese government is intensifying efforts to address its internal debt crisis. In the lead-up to Independence Day celebrations, the president confirmed the clearance of 51 billion FCFA in business claims, signaling a commitment to economic recovery.

The allocated funds are divided strategically: 30 billion FCFA targets businesses in the mining and timber industries, while the remaining 21 billion FCFA will settle debts for a broader range of enterprises, with priority given to SMEs and small industrial firms. This allocation reflects a targeted approach to sectors critical to Gabon’s economic stability.

The decision follows high-level discussions between the head of state and representatives from the Fédération des Entreprises du Gabon, alongside leaders of SMEs and small industrial firms. The meeting, held at the Palais de la Rénovation in Libreville, focused on the challenges facing private enterprises, job preservation, and measures to sustain economic activity.

In the initial phase, the Treasury will mobilize 21 billion FCFA to honor 1,478 payment orders issued between 2022 and 2026. Affected businesses operate in key sectors, including construction, maintenance, food supply, and fuel distribution, underscoring the initiative’s broad economic impact.

Government officials emphasize that this move is designed to strengthen corporate cash flow, sustain business operations, and safeguard employment. The announcement is part of a wider strategy to address Gabon’s internal debt, which exceeds 4,652 billion FCFA.

By systematically reducing state arrears to private enterprises, the government seeks to enhance operational conditions and foster a more dynamic business environment. The release of 51 billion FCFA represents a pivotal first step in this long-term vision to support national private sector growth and maintain economic momentum.