Ebomaf dominates gabonese public contracts with over 700 billion cfa francs in deals

Since the political transition began in August 2023, the Burkina Faso-based construction giant Ebomaf has risen to become Gabon’s top recipient of public contracts. In under three years, the company founded by businessman Mahamadou Bonkoungou has secured over 700 billion Central African CFA francs in infrastructure projects—an unprecedented achievement for a single foreign operator in the country. The group’s portfolio now includes critical road networks, the Andem airport expansion, and Libreville 2, the new administrative capital, all key initiatives championed by transitional president Brice Clotaire Oligui Nguema.

Dominance in Gabon’s public procurement raises concerns

The rapid accumulation of contracts stretches beyond sheer volume to include a pattern of exclusive awarding. Nearly every major infrastructure announcement has named Ebomaf as the lead contractor, often without clear public disclosure of competitive bidding processes. The company’s projects span hundreds of kilometers of roadworks, major airport upgrades, and a large-scale urban development aimed at easing congestion in Libreville.

Such concentration of contracts in a single firm prompts serious questions about public finance risks. When one contractor handles design, execution, and even pre-financing for multiple projects, the state’s financial flexibility diminishes significantly. Gabon, whose oil revenues have declined in recent years, is already under close scrutiny by international financial institutions due to rising external debt levels.

Transparency gaps in financial tracking

While Ebomaf claims to have secured contracts worth 700 billion CFA francs, no official consolidated report has been issued by Gabonese authorities such as the Ministry of Public Works, the Ministry of Public Accounts, or the Audit Chamber. The absence of a unified financial dashboard makes it difficult to trace actual cash flows—whether they come from direct state payments, bank pre-financing, or offset mechanisms.

This lack of clarity fuels concerns over treasury operations. Which agencies validate cost estimates? Which banks manage the funds? What sovereign guarantees back the pre-financing arrangements? Under best practice guidelines from the International Monetary Fund and the African Development Bank, such questions demand regular disclosure of commitments and disbursements. Yet institutional silence stands in stark contrast to the frequent media coverage of newly inaugurated sites.

Assessing the risks of pre-financing models

Ebomaf has built its regional reputation on an integrated model that combines technical execution with bank pre-financing, often backed by West African financial institutions. For cash-strapped governments, this approach enables rapid project kickoff without immediate budget outlays. However, it shifts repayment obligations to future fiscal years, with costs heavily dependent on negotiated interest rates and terms.

The model has helped the group secure long-term footholds in Burkina Faso, Côte d’Ivoire, Togo, and Senegal. But it has also sparked recurring debates over inflated costs, hidden markups, and concerns about construction quality. Applying this model at scale in Gabon—especially during a transitional political period—demands rigorous review of financial clauses and oversight mechanisms.

For Gabon’s financial partners, the stakes extend beyond project delivery timelines. They involve the credibility of the transition government’s fiscal roadmap and the long-term sustainability of debt servicing once elections are held. Publishing a consolidated audit of Ebomaf-related commitments would send a strong signal of accountability at a time when multilateral lenders are reassessing their exposure to Gabon’s sovereign risk.

Meanwhile, the concentration of major contracts in a single operator raises broader questions about Gabon’s local construction ecosystem. Local firms, historically confined to subcontracting roles, struggle to scale up due to limited access to high-value contracts. The issue of who audits or oversees Ebomaf’s financial activities in Gabon remains unresolved.