Browsing: Gabon

• Somalia, South Sudan and Equatorial Guinea have emerged as the most corrupt countries in Africa in the 2023 Corruption Perception Index (CPI) by Transparency International.
• Liberia (25) has declined 16 points in the CPI score since 2016 while Mali (28) has dropped seven points in the CPI ranking since 2015.
• In 2023, Gabon ranked (28) having lost a similar number of points like troubled Mali since 2016.

Somalia, South Sudan and Equatorial Guinea have emerged as the most corrupt countries in Africa in the 2023 Corruption Perception Index (CPI) by Transparency International (TI). Equatorial Guinea (17), South Sudan (13) and Somalia (11) scored the lowest with TI saying these economies showed “no sign of improvement.”

Liberia (25) has declined 16 points in the CPI score since 2016 while Mali (28) has dropped seven points in the CPI ranking since 2015. In 2023, Gabon ranked (28) having lost a similar number …

United States officials and politicians have shown much interest and support for renewing the African Growth and Opportunity Act (AGOA) as its expiration date approaches in September 2025. The fate of this landmark legislation, which provides duty-free access to the US markets for some African countries, remains uncertain for the next 22 months but has significant implications for trade between the United States and Africa.…

Four African countries are staring at huge losses running into billions of dollars starting January 2024 following their expulsion from the African Growth and Opportunity Act (AGOA). The move will further worsen the unemployment crisis in the affected countries. Agoa offers thousands of jobs in apparels industry, especially to the youth.…

The World Bank estimated the value added in Gabon’s agriculture, forestry, and fishing sectors to be 6.404 per cent of GDP in 2020, a good sign to invest in Gabon.

Gabon imports the bulk of its cereal requirements through commercial channels, with cereal imports accounting for approximately 90 per cent of the total cereal utilization.  Imports of cereals in 2021 were estimated at a slightly below-average level of 171,000 tons, including about 110,000 tons of wheat and 55,000 tons of rice.

Gabon is facing escalating agricultural food prices, especially wheat since the war in Ukraine began in February 2022.  To keep domestic wheat prices below 25,000 CFA, the government formally budgeted a subsidy of 4,700 CFA (US$7.55) per 50-kg bag to the country’s wheat importers, led by France’s Société Meunière et Avicole du Gabon company.…

Commonwealth along racial lines, but the body managed to forge a compromise at its Nigeria summit, appointing a seven-nation panel to monitor Zimbabwe’s progress towards improved democratic values.

President Emmerson Mnangagwa’s government applied on May 15, 2018, to re-join the grouping, a year after toppling Mugabe through a military coup.

According to an article by the Independent dated June 17, 2022, Scotland subsequently deployed a Commonwealth team led by Ghana’s former president John Dramani Mahama to observe Zimbabwe’s 2018 elections.…

African Ministers and Heads of Delegation of Ministries in charge of Housing and Urban Development, African Finance Ministers, the Directors and Management of Shelter Afrique, and representatives of international, regional and national institutions, the private sector and civil society, have agreed to enhance mechanisms for the mass production of decent and affordable housing in the continent to achieve social and economic development.

During a three-day summit at the 40^th Annual General Assembly of shelter-Afrique that was held in Yaunde Cameroon, the participants resolved to address the challenges that have hindered the efforts to provide decent and affordable housing in Africa.

In a research concluded by the Shelter-Afrique, a pan African housing finance and development institution, shows that the overall shortage of housing in Africa is estimated at 56 million housing units with out of this, more than 90 per cent are in affordable housing bracket.

The Managing Director …

Africa Nations bagged goodies from the just concluded Paris summit held in France on May 18. The Summit brought together African leaders and global financial institutions, where a new deal was launched for Africa and by Africa, in host of the French President Emmanuel Macron.

For several decades in Africa, debates have taken place around economic relations between France and its former colonies in the continent.

But from Economic and political statements of Commentators of whether few element of exploitation exist or not in France’s way of Trading In Africa it is not a matter of Concern from French President Emmanuel Macron who is in mood to continue trading and offering Goodies to Africa, even though some of the unfair and unequal ethics are left unsaid. his country continues to control the trade and currency of these former colonies. The maintenance of economic domination allows the prolongation of political domination.…

PIDG company, the Emerging Africa Infrastructure Fund (EAIF) has announced that it has arranged the long-term debt finance for a €305 million new port development by Gabon Special Economic Zone Ports (GSEZ Ports) at Owendo, Gabon.

In addition to its sole mandated lead arranger role, EAIF is lending the company €40 million over 15 years, on a first ranked basis. GSEZ Ports is EAIF’s first project in Gabon. It is the largest industrial-scale infrastructure public-private partnership yet seen in the country. Financial close was achieved on 26 July.

The African Development Bank (AfDB), which led the structuring of the finance, is also lending €40 million. The new funds will refinance the project, releasing money for the largest shareholder to reinvest in other infrastructure projects in Africa, some in Gabon. 75% of the capital for the port project is shareholder equity.

GSEZ Ports has been awarded a 30-year concession to build …