Gabon secures €40m Moroccan investment for Owendo cement plant expansion

At a landmark ceremony held on May 20, 2026, at the Palais Rénovation in Libreville, a significant investment agreement was finalized between Anas Sefrioui, CEO of Ciments de l’Afrique (CIMAF), and Brice Clotaire Oligui Nguema, Gabon’s transitional president. The €40 million deal will fund the modernization of the Owendo cement plant and the addition of a third production line to meet soaring domestic demand for construction materials.

This financial infusion represents more than just industrial progress—it signals a transformative shift in the company’s governance structure. The Gabonese government has committed to increasing its stake in the local subsidiary to 20%, following an initial 10% acquisition in December 2025. This strategic move aims to secure direct oversight for the state, aligning with a broader economic policy adopted in August 2023 that converts major foreign investments into national co-ownership ventures.

For CIMAF, this strengthened partnership marks the culmination of a deliberate strategic pivot. The Moroccan group, led by Anas Sefrioui, is gradually exiting the European market, as evidenced by the concurrent sale of its final cement plant in France. With European markets appearing saturated and highly competitive, CIMAF is refocusing its investments on Africa, where urbanization and infrastructure development—including roads, bridges, and housing—continue to drive unmet demand.

This deal also underscores a broader evolution in Morocco’s economic footprint across the continent. While Moroccan private enterprises have long dominated West Africa, the focus is now expanding into Central Africa, particularly in critical industrial sectors. For Gabon, a nation traditionally reliant on oil revenues, this public-private collaboration serves as a proving ground for diversifying its economy by blending Moroccan private capital, Gabonese public oversight, and regional economic integration.