Fast forward emergence



Oil has made the small, sparsely populated state of Gabon one of the wealthiest in Africa, but with production in decline new ways of securing the future must be found
A nation of just 1.5 million people, oil-rich Gabon enjoys a per capita income four times that of most nations of sub-Saharan Africa. One of Africa’s largest producers of petroleum, it pumps out around 250,000 barrels of oil per day.

Gabon Emergent is the strategy initiated by President Ali Bongo Ondimba to create an emerging economy. Resting on three pillars – Green Gabon, Service Gabon and Industrial Gabon – it aims to reduce reliance on oil production, improve standards of governance, eliminate corruption, and modernize the workforce.

“We have deliberately focused on driving reform in key strategic areas to deliver meaningful and lasting change for the country,” the President has said. “One of our principal areas of focus is on reform to encourage and facilitate investment.”

Increased spending by the government is aimed at consolidating growth, with priority being given to agriculture and infrastructure. One of the most significant moves has been the banning of the export of raw timber, which President Bongo wants to see processed locally to add value to forest and wood products before export. At the same time, there is strong emphasis on environmental sustainability.





For the complete story, check the THE WORLDFOLIO newspaper.

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