African banking supervisors conclude 2026 conference with calls for enhanced cooperation
via Gabon Review3 min read
The 2026 Annual Conference and Meeting of the Community of African Banking Supervisors CABS concluded on June 5 in Yaoundé, following two days of discussions on banking supervision in Africa. The event, themed "Strengthening Prudential Cooperation and Financial Stability in Africa," brought together central bank representatives. Key recommendations included reinforcing digitalization, prudential supervision, and the coordinated management of technological and cross-border risks. Participants examined ways to strengthen cooperation among supervisory authorities, focusing on information sharing mechanisms and cross-border coordination. Progress on the multilateral memorandum of understanding for information exchange and discussions on pending agreements between some African central banks highlighted the commitment to a more integrated supervisory architecture. The conference also validated the main directions of the 2026-2028 work program, which centers on cross-border banking supervision, crisis management, and Basel regulations. Debates also addressed emerging challenges from technological innovation, such as artificial intelligence, rising cyber risks, and new financial instruments like stable coins, emphasizing the need to adapt prudential frameworks. CABS President Patricia Danielle Manon, also Deputy Secretary General of the Banking Commission of Central Africa Cobac, praised the discussions and called for further joint projects, cross-training, and shared missions to enh
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Michel Djombo, the Congolese Minister of Industrial Development, visited Gabon's Nkok Special Investment Zone SIZ on July 23 to assess its maturity. This visit is part of Congo's efforts to develop two similar zones with the operator Arise IIP. Established in 2012, the Nkok SIZ is recognized as a regional model for industrial development, attracting investments, creating jobs, and facilitating skills transfer. The institutional framework of the zone, including the role of Gabon Special Economic Zone SA and the administrative authority led by Serge Samy Biveghe, was presented to the Congolese delegation. The one-stop shop, which integrates 24 state services to simplify administrative procedures and improve the business environment, particularly drew attention. Djombo noted the importance of understanding the one-stop shop's operation and the state's involvement in attracting investments. The delegation also visited industrial units specializing in wood processing, such as Tropical Forest and Chanta Group, which serve as an inspiration for Pointe-Noire. Djombo expressed satisfaction with the insights gained and the useful exchanges, highlighting the value of experience sharing between the two countries. Gaurav Aggarwal, CEO of GSEZ, emphasized that the Nkok SIZ's success is built on a strong public-private partnership, with the one-stop shop being crucial for supporting investors. The Nkok SIZ features integrated infrastructure, including a 70 MW autonomous energy supply, banki
Sébastien Migné, recently appointed head coach of Gabon's national football team, the Panthers, has set an ambitious goal: to qualify the team for the FIFA World Cup for the first time in 2030. Arriving in Libreville on July 23, Migné outlined his long-term vision, which extends beyond immediate sporting events. He emphasized that achieving this historic qualification will require a period of transition, focusing on stabilizing the team while preparing for the future. Migné acknowledged the need to motivate the current generation of players and integrate new talent. He stressed that the team's resurgence cannot be achieved by the technical staff alone, calling for the mobilization of all stakeholders in Gabonese football, including leaders, staff, players, and the public, to restore the Panthers' continental standing. Migné also expressed satisfaction with the anticipated appointment of Alain Giresse as the national technical director. He highlighted Giresse's extensive experience with Gabonese football, having previously coached the Panthers from 2006 to 2010, and believes this collaboration will be a significant asset in achieving their shared objective. Migné stated that this partnership of skills is crucial, as he cannot accomplish the project alone. His roadmap for the next four years involves gradually rebuilding the Panthers, enhancing their competitiveness in Africa, and creating the conditions for a historic 2030 World Cup qualification.
Must ReadGabon's revised finance law, promulgated on July 17, shows a significant 97% reduction in expected corporate tax revenue from the mining sector. The anticipated income from mining companies dropped from 53.2 billion CFA francs to 1.47 billion CFA francs, a decrease of nearly 51.8 billion CFA francs. This reduction alone accounts for over 5% of the total revenue revision. Other state revenues were generally revised downwards by 20% to 30%. Beyond corporate tax, other revenue streams from the mining sector also saw substantial declines. Export duties on minerals fell by 60% from 44 billion to 17.6 billion CFA francs, and state participation in mining companies decreased by 49% from 29 billion to 14.8 billion CFA francs. Revenues from the mining domain dropped by 28%, and the tax on mineral products by 36%. These reductions also impacted organizations funded by these revenues, such as the Société équatoriale des mines SEM and the Strategic Fund for Manganese Transformation. The revised law also approved two mining agreements with Nouvelle Gabon Mining SA, granting extensive tax and customs exemptions for the "Manganèse Franceville" concession and the Okondja-Lebaye manganese exploitation permit. These exemptions include corporate tax, minimum flat tax, VAT on local purchases and imports, property tax, and customs duties on project-related materials and equipment. The budget allocated for the control of the mining sector also saw an 86% reduction, with the "Industry and Mines" mi