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Overview

Seeds of growth: Developing subsistence farming and cash crops should boost non-oil expansion and improve food security
OBG
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Dependent on international markets for agricultural imports worth CFA250bn (€375m) in 2012, according to the Ministry of Agriculture, Livestock, Fisheries and Rural Development (Ministre de l’Agriculture, de l’ Elevage, de la Pêche et du Développement Rural, MAEPDR), Gabon aims to significantly increase its domestic food security by 2020, while also working to expand its cash crop exports.…

Overview

Thinking long term: The sector will have to offer lasting solutions to reduce over-liquidity
OBG
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While Gabon’s banking sector is one of the more developed in the Economic Community of Central African States (Communauté Économique et Moné- taire de l’Afrique Centrale, CEMAC), penetration lags behind its sub-Saharan African peers. Banking assets accounted for a mere 21% of GDP in 2012, according to the IMF, while the private sector’s ratio of credit to GDP stood at only 11% (19% of…

Overview

Seeking new fields: Drilling continues as operators await the new hydrocarbons code
OBG
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Over the last 50 years Gabon’s economy has been largely dependent on oil extraction and, despite declining levels of oil production and government efforts to promote economic diversification, this continues to be true today. According to the World Bank, oil has on average accounted for 45% of GDP, 81% of exports and 60% of budget revenue over the last five years. PRODUCTION LEVELS: Gabon first…

Overview

Clearer signals: As the mobile market approaches saturation, operators look to 3G and value-added services for growth
OBG
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Competition continues to grow in Gabon’s mobile telephony sector, as four operators vie for market share in a population of just 1.5m. As mobile subscriber numbers are nearing saturation, future growth will be driven by the expansion into new products and services. Two projects that have long been in the works – commercialisation of the new Africa Coast to Europe (ACE) fibre-optic cable and…

Overview

Elective surgery: The state is busily investing in infrastructure and new systems
OBG
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In recent years, Gabon’s health strategy has centred on heavy investment in infrastructure. With a number of facilities undergoing refurbishment and expansion, two programmes – a national health survey and an initiative to strengthen local government – will give authorities a more accurate picture of the disease burden. Major challenges remain regarding both communicable and non-communicable…

Overview

Added potential: Going beyond manganese into other minerals
OBG
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While Gabon has a well-established niche in the global mining market as the world’s second-largest manganese producer, its ambition to significantly expand exploration is generating strong interest from junior miners. Many of the majors, some of which are present in the country already, still consider the central African state essentially a greenfield proposal. However, the prospect of some of…

Overview

A home of one’s own: Growing demand for housing continues to provide opportunities for investment
OBG
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Real estate activity in Gabon has decreased slightly since 2012, but remains on an upward path nonetheless, with demand across all market segments driving growth. High-end housing continues to be well received, and low-income housing is much needed. Recent government initiatives to cut back on red tape should help to speed up project delivery, which should in turn benefit affordable housing and…

Overview

Betting on green: State support and international investment are set to put the sector on the map
OBG
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Increasingly aware of the need for economic diversification, Gabon is paying unprecedented attention to the development of its tourism sector. The new focus is being translated into investments aimed at modernising infrastructure, fostering the design of innovative products that can compete internationally, and looking at how the country’s natural attributes can be used to attract visitors and…

Overview

Getting online: New fibre-optic cable and growing competition should spur uptake
OBG
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With the arrival of the Africa Coast to Europe (ACE) fibre-optic cable and increasing demand for digital services, Gabon’s IT sector is on the cusp of considerable growth. The expansion of national bandwidth through the introduction ACE is likely to boost the number of internet users in the next one to two years, particularly in the fast-growing mobile segment. The entire IT market stands to…

Overview

Simplifying procedures: Changes to the tax code have modernised the framework
OBG
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A new tax code was passed in May 2009 – and modified in July 2009, February 2010, January 2011, January 2012 and January 2013 – to reflect Gabon’s new political climate. The code is a modernised framework that will likely be complemented by tax and Customs incentives for both foreign and local investors. Along with implementation of the new general tax code and salaries taxation reform…