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Analysis

Getting personal: Personal insurance lines offer growth potential
OBG
plus

Economic growth, paired with proactive marketing efforts by insurers, has helped to expand the market for personal insurance lines. Although the domestic market is limited to a population of 1.5m, Gabon has a higher per capita income than most other countries in the sub-region, suggesting market depth. The development of the insurance sector has largely been driven by collective insurance schemes,…

Analysis

Cash crops: Plantations are attracting significant levels of investment
OBG
plus

Intensive cultivation of cash crops plays a central role in Gabon’s ambitions to meet its domestic consumption needs, expand non-mineral exports and generate employment by 2020. The government is eager to attract further investment in palm oil, rubber, coffee and cocoa, as well as new crops like sugar cane, maize and soya. Despite low international prices for rubber and palm oil in 2013, plantations…

Analysis

On the market: Offerings set to increase as new banks enter and existing players expand
OBG
plus

Whilst still concentrated, the market is becoming increasingly contested, with foreign banks establishing a presence, as well as the emergence of domestic institutions. The sector is gradually feeling the impact of this growth through greater reach and more product differentiation. With the Bank of Central African States’ (Banque des États de l'Afrique Centrale, BEAC) capital requirements at…

Analysis

New players: Institutional reforms promise to improve the coherence and efficiency of the water and electricity sectors
OBG
plus

Demand for power and water has increased in recent years, driven by growing populations in urban areas, expanding cities and the ambitious economic development plans gradually unfolding. This has put pressure on an already strained system, often resulting in power outages and water-related difficulties such as low pressure and poor quality. To tackle these challenges, the government has adopted…

Analysis

Sustainable timber: As international competition heats up, plans are under way to raise the contribution of forestry
OBG
plus

Since 1998, Gabon has been at the forefront of global forest conservation efforts as it works to balance the priorities of ensuring the sustainability of its resource base and maximising the forestry sector’s economic contribution. One of the key pillars of the Industrial Gabon policy is to carry out more value-added processing at home – first-stage (felling and unrolling) and second-stage…

Analysis

Pricing Emerging Gabon: Non-traditional sources of financing are supporting necessary infrastructure work
OBG
plus

Setting forth an ambitious infrastructure development plan expected to require some CFA17trn (€25.5bn) in investment by 2025, Gabon’s government expects public investment to cover a sizeable share of this – roughly 30%. Support from multilateral agencies, traditional investors and new foreign direct investment (FDI) – either in partnership with the state in a public-private partnership…

Analysis

Strengthening fiscal policy: New reforms aim to improve the management of funds
OBG
plus

Expansionary and targeted fiscal policy will be key to realising Gabon’s economic diversification plan. As the state’s balance sheet expands, the administration aims to control already large recurrent spending as it sustains high public investments in infrastructure and development. In 2013 Gabon’s budget expanded spending 28% on the year before, at CFA3.14trn (€4.71bn), with a 7.6% budget…

Analysis

Sustainable sources: Promoting investment in renewable energy to achieve a competitive and sustainable supply of electricity in the medium to long term
OBG
plus

According to the African Development Bank (AfDB), Gabon has an urbanisation rate of 87% and a similarly high rate of access to electricity, ranging between 70% and 83%. Despite this, the country has experienced difficulty ensuring a stable supply of energy at an affordable cost. High electricity prices, coupled with a struggle to keep up with rising demand, have led the government to support the…

Analysis

Universal right: The government’s focus on water access expansion paves the way for infrastructure investment
OBG
plus

Together with a historical lack of investment in water infrastructure, the growth of cities has gradually resulted in uneven access to drinking water across the country and within urban centres. Furthermore, low investment in water cleaning infrastructure has raised sanitation and environmental concerns. Some projects have been implemented in recent years to address this, combining government funding,…

Analysis

Universal coverage: Preparing a public insurance system for launch in 2014
OBG
plus

Until 2009 the majority of health expenditure in Gabon came from the private sector. A small segment of the population has private health insurance, but most private spending is out-of-pocket. Access to quality care in Gabon is out of step with the country’s position as an upper-middle income country, and the government has made an effort to jump-start spending and create a more efficient public…