Gabon Secures $3.2 Billion Investment to Drive Economic Diversification and Improve Living Standards
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Major Afreximbank Financing Powers Industrial and Energy Projects
Gabon has secured landmark agreements with the African Export-Import Bank (Afreximbank) totalling between $3.2 billion and $3.8 billion to finance a series of ambitious projects aimed at diversifying its economy and boosting industrial development. This new funding will target key sectors such as mining, energy, and transport. Notable initiatives include the construction of processing facilities for manganese and gold, the expansion of railway infrastructure, and the development of new power plants to address Gabon’s energy needs.
These investments align with Gabon’s strategic goal of moving away from raw commodity exports and creating more value within the country. For example, Gabon aims to ban the export of unprocessed manganese by 2029, encouraging domestic processing, job creation, and increased industrial output. The MoUs with Afreximbank are seen as a pivotal step toward making Gabon a regional hub for industrial transformation in Central Africa.
Economic Growth and Persistent Challenges
According to the latest World Bank Gabon Economic Update (June 2025), Gabon’s economy grew by 2.9% in 2024, driven mainly by oil production and public works investments. However, despite this growth and a decline in inflation, the country continues to face several pressing challenges. Poverty levels have increased, with 34.6% of the population now living below the national poverty line. Gabon also grapples with fiscal pressures resulting from lower oil revenues and increased public spending.
The World Bank stresses the urgent need for reforms to boost private sector investment and create more jobs. Strengthening economic resilience will be essential, particularly as Gabon remains highly vulnerable to fluctuations in global oil prices. Efforts to diversify the economy through value-added industrial and energy projects—like those financed by Afreximbank—are expected to play a key role in achieving more sustainable and inclusive growth.
A Vision for Sustainable Prosperity
With substantial new financing and a renewed focus on industrialization, Gabon is positioning itself for a more resilient and diversified future. The government’s strategy emphasizes not just economic growth, but also the preservation and equitable distribution of national wealth. As major projects come online and reforms are implemented, Gabon has the opportunity to improve living standards for its citizens while reducing its dependence on oil.
