Gabon releases 51 billion FCFA to clear internal debt for businesses

As Gabon prepares to celebrate its 66th independence anniversary, President Brice Clotaire Oligui Nguema has announced the release of 51 billion FCFA to settle outstanding debts owed to businesses. The move aims to bolster small and medium-sized enterprises (SMEs) and revitalize the private sector.

Gabon’s government is accelerating efforts to clear its internal debt. With Independence Day approaching, President Brice Clotaire Oligui Nguema revealed that 51 billion FCFA will be allocated to settle business claims.

The funds will be distributed as follows: 30 billion FCFA for companies in the mining and forestry sectors, while 21 billion FCFA will cover claims from other enterprises, with special focus on SMEs and small industrial firms.

The decision follows a meeting between the Head of State and representatives from the Gabonese Business Federation, along with leaders of SMEs and small industrial firms. The discussions, held at the Palais de la Rénovation in Libreville, addressed private sector challenges, job preservation, and measures to sustain economic activity.

In the first phase, the Treasury will mobilize 21 billion FCFA to honor 1,478 payment orders issued between 2022 and 2026. These businesses operate in critical sectors such as construction, maintenance, food supply, and fuel distribution.

The authorities emphasize that this initiative will strengthen corporate cash flow, support business operations, and safeguard jobs. The debt settlement aligns with Gabon’s broader strategy to clear an internal debt estimated at 4,652 billion FCFA.

Through this action, the government seeks to gradually reduce state arrears to the private sector and enhance business operational conditions. The disbursement of 51 billion FCFA marks a pivotal step in supporting the national private sector and maintaining the country’s economic momentum.