Gabon secures 40 million euro deal with Moroccan cement giant CIMAF

In a landmark agreement sealed at Libreville’s Palais Rénovation on May 20, 2026, CIMAF, led by CEO Anas Sefrioui, and Gabon’s transitional president Brice Clotaire Oligui Nguema formalized a €40 million investment aimed at upgrading the Owendo cement plant. The funds will finance the installation of a third production line, a critical move to address the surging demand for construction materials driven by the country’s expanding infrastructure projects.

The deal transcends mere industrial expansion. It signals a significant shift in the governance of the local subsidiary, with the Gabonese government increasing its stake to 20%—up from the initial 10% acquired in December 2025. This strategic move grants Libreville a direct role in decision-making, aligning with a broader economic policy adopted in August 2023. The initiative seeks to convert major foreign investments into shared national ventures, ensuring long-term economic benefits for Gabon.

For CIMAF, this partnership marks a decisive step in its strategic realignment. The Moroccan cement giant is systematically divesting from mature European markets, as evidenced by its recent decision to sell its last French plant. Faced with stagnant demand and intense competition in Europe, CIMAF is pivoting toward Africa, where rapid urbanization and infrastructure development—from roads and bridges to residential housing—create unprecedented opportunities.

This collaboration also underscores a strategic shift in Morocco’s economic footprint across Africa. While Moroccan private sector giants have traditionally dominated West Africa, they are now expanding into Central Africa, particularly in high-impact industrial sectors. For Gabon, long dependent on oil revenues, this public-private alliance serves as a test case for industrial diversification. By combining Moroccan private capital, Gabonese public oversight, and regional economic integration, the project aims to foster sustainable growth and reduce reliance on extractive industries.