Since the political transition that began in August 2023, the Burkinabè construction giant Ebomaf has become Gabon’s top public contract recipient. In less than three years, the company founded by businessman Mahamadou Bonkoungou has secured over 700 billion FCFA in government projects—a volume rarely matched by any single foreign operator in the country. The portfolio spans critical infrastructure, including the Andem airport, Libreville’s new administrative capital dubbed “Libreville 2,” and major road networks, all aligned with the transitional government’s infrastructure agenda under President Brice Clotaire Oligui Nguema.
Dominance in Gabon’s public contracting landscape
The rapid accumulation of contracts raises concerns not only about scale but also about the lack of competitive bidding transparency. Nearly every major infrastructure announcement in recent months has named Ebomaf as the prime contractor, with public details on competitive processes often absent. The projects include hundreds of kilometers of roadworks, airport facilities, and a large-scale urban development aimed at easing congestion in Libreville.
Such concentration of contracts in a single operator’s hands narrows the government’s financial flexibility. With Gabon’s oil revenues declining and external debt under scrutiny by international financial institutions, the risks of over-reliance on one contractor become more pronounced. When a single firm handles design, execution, and even pre-financing of multiple projects, the state’s fiscal maneuverability diminishes significantly.
Lack of budgetary transparency fuels concerns
The 700 billion FCFA figure, cited by Ebomaf itself, has yet to be officially verified or consolidated by Gabon’s public finance authorities. The ministries of Public Works, Public Accounts, and the Audit Court have not released a comprehensive breakdown of contractual obligations between the state and the company. This absence of a unified financial dashboard obscures the true flow of funds—whether through direct payments, bank pre-financing, or compensation mechanisms.
Questions persist about oversight: Who approves the final cost reports? Which financial institutions manage the transaction flows? What sovereign guarantees secure the pre-financing arrangements? These gaps in transparency run counter to the transparency standards promoted by the International Monetary Fund and the African Development Bank, which call for regular disclosure of fiscal commitments and disbursements. While official announcements celebrate new infrastructure inaugurations, institutional silence on financial details leaves room for speculation.
Evaluating the pre-financing model
Ebomaf has built its regional reputation on a vertically integrated model combining technical execution with bank-backed pre-financing, often secured through West African financial institutions. This approach offers immediate advantages for cash-strapped governments by enabling rapid project launches without upfront fiscal mobilization. However, the financial burden shifts to future budgets, with repayment costs hinging on negotiated terms.
The model has enabled Ebomaf to establish a strong presence in Burkina Faso, Côte d’Ivoire, Togo, and Senegal. Yet it has also sparked recurring debates over interest rates, potential cost overruns, and the quality of delivered infrastructure. Replicating this model at scale in Gabon—amid a transitional political context—demands rigorous scrutiny of financial clauses and oversight mechanisms.
For Gabon’s international partners, the stakes go beyond operational efficiency. They touch on the credibility of the transitional government’s fiscal trajectory and the long-term sustainability of debt servicing post-elections. Publishing a consolidated report on Ebomaf-related commitments would send a strong signal of transparency, especially as multilateral lenders reassess their exposure to Gabonese sovereign risk.
Beyond fiscal implications, the concentration of major contracts in a single operator’s hands raises concerns about the local construction ecosystem. Gabonese firms, historically limited to subcontracting roles, struggle to gain access to high-value projects. The question of who ultimately holds Ebomaf’s financial records in Gabon remains unanswered.
