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Analysis

In at the high end: Building infrastructure focused on the luxury segment is the priority
OBG
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Taking advantage of its natural resources and rich scenery, Gabon is focusing on building top-notch tourism infrastructure, with the authorities working to transform the country into a regular stop on the sub-Saharan Africa travel circuit. This strategy is based on Emerging Gabon, the national plan which has prioritised conservation as an essential part of economic development. The drive for high-quality…

Analysis

Tidying up: The government has plans for a more focused management structure
OBG
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As increasing attention is given to the development of tourism, policymakers have come to realise that the way public policy for the industry is managed needs a rethink, prompting the government to unify management under one office. In 2011 a presidential decree paved the way for the creation of the National Agency for Tourism Development (Agence Nationale du Développement du Tourisme, ANDT),…

Analysis

What a difference a year makes: With its public ICT strategy, government aims to make 2014 the “Year of the Internet”
OBG
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The IT sector in Gabon may still be in a nascent stage, but it is expected to leap ahead in the next two years with the pending launch of the Africa Coast to Europe (ACE) submarine fibre-optic cable. Under the Digital Gabon Plan, the state has committed to make the country a digital economy by 2016. While the current low level of internet penetration means that this will require considerable public…

Analysis

New rules: Changes to the mining code are expected before the end of 2013
OBG
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The Emerging Gabon strategy is aiming to foster more exploration and production in the mining sector, as well as expansion of local downstream processing capacity. A new mining code under development over the past two years is expected to pass Parliament by the end of 2013 with no major surprises for mining firms, although, as in many other mineral-producing countries, fiscal production terms are…

Overview

Open door: A look at the legal environment and the framework for investment
OBG
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In accordance with its liberal economic principles, Gabon is open to foreign investors and the rights of free enterprise are guaranteed. 1. GENERAL LEGAL ENVIRONMENT A. Constitution & Other Sources of Rules: Gabon has a civil law structure with a hierarchy of legislation: lower laws need to comply with upper laws. The higher rule is the constitution, ratified in 1991, which provides for…

Overview

Additional listings: Efforts continue to increase equity and bond offerings on the exchange
OBG
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The Central African Stock Exchange (Bourse Régionale des Valeurs Mobilières d’Afrique Centrale, BVMAC), headquartered in Libreville, is one of two regional bourses – both of which are located in CFA zones – on the African continent. The bourse was founded in 2003, and began trading in 2007, with the aim of serving the six countries of the Central African Economic and Monetary Community…

Overview

Growth through diversification: Demand for manganese and timber draw international interest
OBG
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The past 40 years of oil production have turned this small but strategically positioned Central African state into an upper middle-income economy. Although figures can vary noticeably, with a GDP per capita in 2012 estimated at $9000 by the Banque des États de l'Afrique Centrale and $12,000 by the IMF, the nation is roughly on a par with Turkey and Argentina. The second-biggest economy of the…

Overview

Strength through stability: Despite a small population, the country boasts impressive diversity
OBG
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Located in central Africa on the Gulf of Guinea, Gabon is a mid-sized country with a relatively small population of 1.6m people. Following a colonial period (1886-1960), when it was ruled by France, the country’s considerable hydrocarbons and mineral wealth has allowed it to enjoy economic development and stability, particularly compared to many of its neighbours. Much of this development…

Overview

Strengthening confidence: New regulations are creating opportunities in life, health and microinsurance coverage
OBG
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As with many of Africa’s emerging markets, a number of challenges face Gabon’s insurance sector, including low insurance awareness, a small domestic client base and declining oil production. And yet, the Gabonese market remains one of the largest in the sub-region, and it is set to expand in the coming years as the demand for personal insurance lines increases. The insurance industry was recently…

Overview

The way forward: Aiming to leverage influence across the continent
OBG
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Long viewed as a bastion of stability in the region of Central Africa, Gabon has been able to leverage its comparative steadfastness into diplomatic clout throughout sub-Saharan Africa. After gaining independence in 1960 the country surpassed an initial decade of occasional political tension to secure a generally peaceful state. This has allowed Gabon to underwrite significant socioeconomic…