Gabon is about to undergo a major political and institutional transition. A turning point that could redefine the country’s economic direction, particularly in terms of diversification. Long dependent on oil, Gabon is seeking to diversify its economy to ensure sustainable growth. What are the challenges and opportunities of this economic transformation? Find out in this report.
Economic diversification is a major challenge for the Gabonese authorities. Long dependent on oil, which still accounts for almost 38% of GDP and more than 70% of exports, the Central African country intends to diversify its economy to ensure sustainable growth. Between political will, investment attractiveness and the development of strategic sectors, the country has, according to the experts, cards to play to guarantee more inclusive and sustainable growth.
‘Many companies or traders engage in unfair competition or abuse their dominant position on the markets. That’s why, in order to try and reduce this influence, which is in fact reprehensible, we have precisely that, the Gabonese want this national preference.’
GABRIEL ZOMO YEBE, Associate Professor of Economics – Gabon
Rich in natural resources, Gabon has been committed for several years to a strategy of economic diversification. Representing 3.2% of GDP and 6% of exports in 2023, the forestry sector is one of the historical pillars of the Gabonese economy, and accounts for some 17,000 direct and indirect jobs in the private sector. Similarly, the agricultural sector, which is still under-exploited, could become a major lever for food self-sufficiency and exports.
‘What the Gabonese people want today is to produce their own food. We’ve realised that food is a geostrategic element and we need to be able to say ourselves what we eat.
GABRIEL ZOMO YEBE, Associate Professor of Economics – Gabon
The task is vast, but the political transition could be an opportunity to reaffirm this ambition and breathe new life into the Gabonese economy.
