As Gabon prepares to mark its 66th independence anniversary, President Brice Clotaire Oligui Nguema has unveiled a 51 billion FCFA fund to settle outstanding payments owed to businesses. The initiative aims to strengthen small and medium enterprises (SMEs) and revitalize the private sector’s momentum.

The government is accelerating efforts to clear its domestic debt, with the president confirming the release of 51 billion FCFA to address overdue obligations. This move underscores a broader commitment to economic recovery and private sector support.

The allocation breaks down into 30 billion FCFA for enterprises in mining and forestry, while 21 billion FCFA targets other sectors, prioritizing SMEs and mid-sized companies. The decision follows a high-level meeting between the head of state and representatives from the Gabonese Business Federation, alongside SME and mid-sized business leaders, held at the Palais de la Rénovation in Libreville.

During the discussions, participants addressed challenges facing the private sector, strategies to safeguard jobs, and measures to sustain economic activity. The first phase involves disbursing 21 billion FCFA to clear 1,478 payment orders issued between 2022 and 2026. Affected businesses operate in critical sectors such as construction, maintenance, food supply, and fuel distribution.

Government officials highlight that this payment will boost business liquidity, sustain operations, and protect employment. The initiative is part of a wider program to settle Gabon’s domestic debt, currently estimated at 4,652 billion FCFA.

The unlocking of 51 billion FCFA marks a pivotal step in reducing the state’s arrears to the private sector and improving operational conditions for businesses. It reflects Gabon’s strategy to foster a resilient private sector and sustain economic momentum.