Ebomaf’s massive public contracts in Gabon spark governance debates

Since the political transition began in August 2023, the Burkinabè conglomerate EBOMAF has risen to the top of Gabon’s public procurement rankings. In under three years, the company founded by businessman Mahamadou Bonkoungou has secured over 700 billion Central African CFA francs worth of contracts in Gabon—a volume rarely matched by a single foreign operator in the country. From critical road networks to the Andem airport and the new administrative capital Libreville 2, the group’s portfolio now encompasses nearly all major infrastructure projects spearheaded by transitional president Brice Clotaire Oligui Nguema.

Dominance in Gabon’s public procurement sector

The rapid accumulation of contracts raises concerns not only due to its sheer size but also its pace. Every presidential announcement regarding infrastructure development appears to funnel toward the same contractor, with public tendering processes often lacking transparent disclosure. EBOMAF’s projects span hundreds of kilometers of roadway, alongside airport facilities and a major urban development aimed at easing congestion in Libreville.

This concentration of contracts introduces a familiar public finance dilemma: the risk of over-reliance on a single operator. When one group handles design, execution, and even pre-financing of multiple projects, the state’s negotiating power diminishes significantly. Gabon, whose oil revenues have declined in recent years, faces heightened scrutiny over its external debt levels from international financial institutions.

Budget transparency under scrutiny

The 700 billion CFA franc figure, cited by EBOMAF itself, has not been publicly consolidated by Gabon’s relevant ministries—Public Works, Public Accounts, or the Audit Court. Without a unified dashboard tracking these commitments, the actual financial flows remain unclear. Payments may come from state coffers, pre-financing arrangements, or compensation mechanisms, yet the lack of transparency complicates oversight.

This opacity fuels questions about cash flow management. Which authorities approve payment schedules? Which banks facilitate these transactions? What sovereign guarantees secure the pre-financing? In line with IMF and African Development Bank governance standards, regular disclosures of contractual commitments and disbursements are expected. Yet institutional silence persists despite the high-profile inauguration ceremonies.

Evaluating the pre-financing model

EBOMAF has built its regional reputation on an integrated model combining technical execution with bank-backed pre-financing, often secured from West African lenders. While this approach allows cash-strapped governments to initiate projects without immediate fiscal strain, it shifts repayment obligations to future budgets—with costs heavily dependent on negotiated financial terms.

The model has enabled the group to establish a foothold in Burkina Faso, Côte d’Ivoire, Togo, and Senegal, though it has also sparked recurring controversies over interest rates, potential cost overruns, and the quality of delivered infrastructure. Implementing this model at scale in Gabon—amidst a transitional political climate—demands rigorous scrutiny of financial clauses and oversight mechanisms.

For Gabon’s financial partners, the stakes extend beyond operational performance. The credibility of the transitional government’s fiscal trajectory and the long-term sustainability of its debt service—post-elections—are now under scrutiny. A consolidated report on EBOMAF-related commitments would send a strong transparency signal, particularly as multilateral lenders reassess their exposure to Gabon’s sovereign risk.

Moreover, the concentration of large-scale projects in the hands of a single operator raises questions about the local construction ecosystem. Gabonese firms, often relegated to subcontracting roles, struggle to scale up due to limited access to high-value contracts. The oversight of EBOMAF’s financial operations in Gabon remains an open question.