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Analysis

Keep it local: The new national reinsurance company is off to a promising start
OBG
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Having noticed that insurance companies operating in Gabon were transferring, on an annual basis, about 50% of their premiums to international reinsurance companies, the government has sought a solution to ensure that such capital serves the financing needs of the country instead of going abroad. The need to create a national public-private company, as a complement to Gabon’s insurance sector,…

Analysis

Reaching out: Banks expand their services to win new customers
OBG
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Since 2009, the number of players in the banking sector has increased from seven to nine. A tenth is soon to be added as the Gabonese postal service rolls out the Poste Bank. In a country of 1.5m people, competition is growing, which in turn is driving innovation in an effort to increase customer retention and win over new commercial and retail clients. NEW SERVICES: Recent entrants to the market,…

Analysis

New to the scene: Promising projects are attracting non-traditional investors
OBG
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The oil industry has long reflected Gabon’s colonial past, and its close ties with Europe and France in particular. Total was first oil company to begin production in Gabon. Over the years, the French firm has battled back and forth for the distinction of largest producer in the country with Shell, an Anglo-Dutch oil giant. The Italian major ENI also has a long presence in Gabon. Europe and North…

Analysis

Thinking locally: Education and training efforts to boost employment of Gabonese
OBG
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In April 2011 a four-day strike by the National Oil Workers Union (l'Organisation Nationale des Employés du Pétrole, ONEP) caused severe disruptions to oil production across Gabon and cost the government an estimated CFA59bn (€88.5m). Total and Shell’s operations were completely shut down and Tullow Oil experienced severe disruptions. After negotiations broke down again in November, the ramifications…

Analysis

Trying to keep pace: Growing demand for power and water necessitates new state investment and an organisational revamp
OBG
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Across Libreville, Gabon’s economic and political capital, construction is booming. New apartment projects stand beside office-tower scaffolding. Outside the city centre, ground is being cleared beside the village of Nkok to make way for large industrial projects in the newly inaugurated special economic zone. Inland, mining projects across the country are on the drawing board, as well as a manganese…

Analysis

The big three: A review of the country’s largest lenders
OBG
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Despite growing competition, Gabon’s three largest lenders continue to maintain substantial market shares. Combined, BGFIB ank, Banque Internationale pour le Commerce et l’Industrie du Gabon (BICIG), and Union Gabonaise de Banques (UGB) accounted for more than 80% of all loans and deposits in the country as of March 2012, according to the Professional Association of Credit Institutions (Association…

Analysis

Animal attraction: Ecotourism is central to the government’s plans for the sector
OBG
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With Gabon looking to diversify sources of growth and ensure sustainable development, the government has set ambitious goals for developing the tourism industry, and aims to attract 100,000 visitors annually by 2020. Ecotourism, a key component of the Green Gabon strategy, one of the three main pillars of President Ali Bongo Ondimba’s Emerging Gabon development plan, is expected to contribute…

Analysis

Accelerating growth: Road projects aim to unlock the country’s economic potential
OBG
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The development of Gabon’s road infrastructure is one of the factors with the greatest potential to boost overall economic growth and to encourage regional trade. The government has made road network upgrades a priority under the National Infrastructure Master Plan for 2011-16 and aims to facilitate the investment of $6bn in the next five years in road infrastructure alone. The state is working…

Analysis

Coming to screens near you: Television providers are getting ready for digital transition
OBG
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The Ministry of Digital Economy, Communication and Postal Services is responsible for designing Gabon’s strategy for the transition from analogue broadcasting to digital broadcasting, in order to meet the deadline fixed by the International Telecommunication Union (ITU). UHF analogue TV must be abandoned by 2015, whereas VHF analogue TV (generally used for public TV channels) is set to disappear…

Analysis

In the palm of your hand: Several new mobile options are being heavily promoted
OBG
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Despite promising announcements, a number of delays have kept Gabon’s citizens from benefitting from 3G services. Consequently, government mobile services do not exist yet and private mobile services remain very limited, though Airtel has begun initial attempts to introduce mobile payment solutions. The government, through several initiatives, such as the implementation of the “Cloud Gabon”…