Banking / Investment in Gabon
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BOTSWANA, 2017/09/09
This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs).
Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
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GABON, 2015/07/05
With a spate of capital projects in the pipeline, request for finance in Gabon is on the rise but the large scale of the investments means that domestic institutions are looking towards syndication and other tools to be able to participate.
Gabon’s banking sector has been on an upward trajectory in recent years, following the entrance of a number of new foreign institutions over the completed decade. The country is seen as an attractive presentation for lenders, with financial penetration at only 12% and with several public works projects planned, inclunding a new marina development in central Libreville and a deep-water port in Mayumba.
However, while liquidity has traditionally been comparatively abundant in Gabon, it has come under pressure over the completed 12 months as oil prices have declined. This in turn has ramifications for the ability of domestic institutions to finance the country’s numerous infrastructure projects.
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GABON, 2014/08/16
Gabon’s already-competitive insurance sector is set for a shake-up with the planned entry of another foreign-owned operator, although given the country’s low penetration rates there is still ample room for growth.
Wafa Assurances, Morocco’s leading insurer by market share, announced in March that it plans to establish subsidiaries in four of the top five CIMA markets: Côte d’Ivoire, Cameroon, Gabon and the Congo. The group will rely on the regional network of Attijariwafa Bank, its parent company, following a similar, successful experience with its Tunisian subsidiary.
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GABON, 2013/08/13
As part of a broader economic diversification policy, new investments in vocational and professional training are expected to help the Gabonese government bridge the gap between the offerings of educational institutions and the needs of the job market.
Two initiatives were announced at the second annual New York Forum Africa, held this year in mid-June in Libreville. Initial, the Ministry of Education signed a partnership with the China Aviation Industry Corporation International (AVIC) that provides for the construction of three general vocational schools in the next three years. The centres will be located in Libreville, Franceville and Port-Gentil and each is expected to offer training in up to 10 different industries.
