Gabon allocates FCFA 51 billion to clear domestic debt owed to businesses

With Gabon’s 66th Independence Day on the horizon, President Brice Clotaire Oligui Nguema announced the release of FCFA 51 billion to settle outstanding payments owed to local businesses. This initiative is designed to bolster small and medium-sized enterprises (SMEs) and revitalize the country’s private sector.

Funds allocated to key economic sectors

A total of FCFA 30 billion is earmarked for businesses operating in mining and forestry-logging industries. The remaining FCFA 21 billion will address outstanding debts across other sectors, with a special emphasis on supporting SMEs and small and medium industries (SMIs).

Government takes decisive action ahead of national celebrations

This financial injection follows a high-level meeting between the President and representatives of the Gabonese Business Federation, alongside SME and SMI leaders. Held at the Palais de la Rénovation in Libreville, the discussions focused on pressing challenges faced by the private sector, safeguarding employment, and implementing measures to sustain economic growth.

First phase targets 1,478 pending payment orders

The Treasury Department will mobilize FCFA 21 billion in the initial phase to clear 1,478 payment orders issued between 2022 and 2026. Affected businesses span critical industries, including construction, maintenance, food supply, and fuel distribution.

Long-term strategy to reduce state arrears

Government officials highlight that this move aims to strengthen corporate cash flow, enhance business operations, and protect jobs. The FCFA 51 billion disbursement is part of a broader initiative to address Gabon’s domestic debt, currently estimated at FCFA 4,652 billion. By systematically reducing state arrears to the private sector, authorities seek to improve business conditions and foster a more dynamic economic environment.