The government of Gabon has secured over $3.2 billion in funding from the African Export-Import Bank (Afreximbank) to drive industrial and energy development.
The deals, signed during the bank’s annual meeting in Abuja, Nigeria, represent around 16% of Gabon’s GDP and signal a bold step toward economic diversification under President Brice Oligui Nguema. The first agreement, worth $3 billion, will support the development of manganese processing facilities, the construction of a new railway linking industrial and mining zones, and the expansion of national power generation capacity. The goal is to shift Gabon from an exporter of raw materials to a more value-added economy.
Development challenges
A second $234 million agreement will finance three new power plants in Libreville, Port-Gentil, and Lambaréné. Construction is scheduled to begin between 2025 and 2027. Once completed, the facilities will boost Gabon’s installed electricity capacity by nearly 50%, adding 300MW to the current 785MW.
Despite being a middle-income country, Gabon faces significant development challenges: one-third of its population lives in poverty, unemployment hovers around 20%, and rural areas remain largely dependent on biomass for energy. Oil accounts for 30% of GDP and 90% of exports, underscoring the urgency of diversification.
President Nguema, who ousted the Bongo dynasty in a 2023 coup, was officially elected in May 2025 with 90% of the vote in the country’s first free elections. His administration is prioritizing economic reform and tackling entrenched corruption Gabon ranked 135th out of 180 in Transparency International’s latest index, with past leaders linked to luxury assets abroad.