As Gabon prepares to celebrate its 66th Independence Day, President Brice Clotaire Oligui Nguema has unveiled a significant financial commitment: the release of 51 billion Central African francs to settle outstanding domestic debts owed to businesses. This bold initiative aims to bolster small and medium-sized enterprises (SMEs) while reviving the private sector’s vitality.
The government’s decisive move comes as part of an accelerated push to clear the nation’s internal debt obligations. With Independence Day on the horizon, the president confirmed that 51 billion FCFA in outstanding payments will be disbursed to eligible companies, providing much-needed liquidity to struggling enterprises.
The allocation breaks down into two key segments: 30 billion FCFA is earmarked for enterprises in the mining and timber sectors, while the remaining 21 billion FCFA will address overdue payments across various industries, with a special focus on supporting small and medium-sized businesses.
The announcement follows a high-level meeting between the Head of State and representatives from the Gabonese Business Federation, alongside leaders of SMEs and mid-sized companies. Held at the Palais de la Rénovation in Libreville, the discussions centered on the economic challenges faced by the private sector, job preservation, and strategies to sustain business operations.
In the initial phase, the Treasury Department will mobilize 21 billion FCFA to settle 1,478 payment orders issued between 2022 and 2026. These enterprises operate in critical sectors, including construction, maintenance, food supply, and fuel distribution, all vital to the nation’s economic stability.
Government officials emphasize that this financial injection is designed to strengthen corporate cash flows, sustain business activities, and safeguard employment. The debt clearance initiative is part of a broader national strategy to reduce the state’s internal arrears, which currently stand at approximately 4,652 billion FCFA.
By systematically addressing these obligations, authorities aim to enhance the operational environment for private businesses and foster sustainable economic growth. The release of 51 billion FCFA marks a critical first step in this long-term plan to revitalize Gabon’s private sector and reinforce the country’s economic momentum.
