Gabon is taking steps to break free from the grip of Karpowership, a company that has dominated the country’s energy sector for years. The government has announced plans to increase its stake in state-owned SEEG, a power company that will provide more competition to private operators like Kapowership.
Since 2013, Karpowership has been the largest source of electricity in Gabon, with a market share of over 80%. However, this dominance has raised concerns about the country’s energy security and the lack of investment in the sector.
The government’s move is seen as a bid to reduce its dependence on foreign companies and promote local economic development. By increasing SEEG’s stake, Gabon hopes to create more opportunities for small and medium-sized enterprises to participate in the energy sector.
However, critics say that the plan may not address the root causes of the problem, such as corruption and a lack of transparency in the energy sector. They argue that more needs to be done to ensure that the benefits of the new ownership structure are shared fairly among all stakeholders.