Gabon tackles domestic debt with audit to restore business confidence

The Gabon Economic Forum (GEF) concluded with a firm commitment to address one of the nation’s most pressing economic challenges: the longstanding debt owed by the government to private enterprises. Alain‑Claude Kouakoua, President of the Federation of Gabonese Enterprises (FEG), emphasized the urgency of resolving this issue during a closing address that drew significant attention.

While the total debt has been publicly cited at 4,340 billion FCFA, Kouakoua suggested this figure may be inflated. A closer examination by the FEG reveals that many claims lack proper documentation or verifiable evidence, making them questionable. To address this, a joint audit will be conducted in collaboration with the dedicated Task Force and the Ministry of Economy. The primary goal is to distinguish between undisputed debts—those verified and mutually agreed upon—and those that lack sufficient proof to justify repayment. No payments will be processed until this comprehensive review is finalized, ensuring transparency and accountability.

The audit’s outcome is already anticipated to reduce the total debt figure significantly. Additionally, Kouakoua disclosed that approximately 50% of the claimed debt has already been settled since the National Council for the Transition (CTRI) assumed power in August 2023. However, many of these payments were made discreetly, contributing to ongoing confusion about the debt’s status.

The upcoming debt settlement mechanism aligns with recommendations from the 2026 GEF. It prioritizes clearing domestic arrears, including VAT credits and overdue payments on public contracts, through accelerated procedures such as securitization and cross-offset mechanisms. This initiative will operate under a structured national program, complete with a published tracking dashboard and a dedicated oversight committee—the reconstituted Libreville Club.

Restoring trust in Gabon’s economy

The reliability of public data and improvements to the National Health Insurance Fund (CNAMGS) were also key discussion points. However, the spotlight remained firmly on the government’s debt to private businesses. For the Gabonese private sector, this audit represents a long-awaited opportunity to resolve years of uncertainty, disputes, and unmet financial obligations. A transparent and systematic approach to debt settlement is seen as essential for rebuilding trust between the state and private enterprises—a cornerstone for sustainable economic recovery.