As Gabon gears up to celebrate its 66th independence anniversary, President Brice Clotaire Oligui Nguema has unveiled a 51 billion FCFA allocation to clear part of the outstanding debts owed to local enterprises. This initiative aims to bolster small and medium-sized businesses (SMBs) and reignite private sector momentum.
The Gabonese government is accelerating efforts to settle its domestic debt obligations. Ahead of Independence Day, President Brice Clotaire Oligui Nguema confirmed the release of 51 billion FCFA to settle outstanding payments to businesses.
Out of this total, 30 billion FCFA is earmarked for firms in the mining and timber industries, while the remaining 21 billion FCFA will cover debts owed to other enterprises, with special focus on SMBs and small-scale industries.
The decision follows a high-level meeting between the Head of State and representatives from the Gabonese Business Federation and key SMB leaders. Held at the Palais de la Rénovation in Libreville, the discussions centered on private sector challenges, job preservation, and measures to sustain economic activity.
In the initial phase, the Treasury will mobilize 21 billion FCFA to settle 1,478 payment orders issued between 2022 and 2026. The affected enterprises operate in critical sectors such as construction, maintenance, food supply, and fuel distribution.
For government officials, this move is designed to strengthen corporate cash flow, sustain operations, and safeguard employment. The debt settlement aligns with a broader initiative to clear Gabon’s domestic debt, currently estimated at 4,652 billion FCFA.
The release of these funds marks the first step in a government strategy to reduce state arrears to the private sector and enhance business operating conditions. By addressing these financial obligations, authorities aim to support national enterprises and maintain the country’s economic momentum.
