
Gabonese businessman André Claude Dickoumba-De-Diguela has been sentenced to 25 years in prison by the Palm Ridge Commercial Crimes Court in South Africa for tax fraud and money laundering. However, he will only serve 10 years due to a plea bargain with the South African prosecutor's office and the principle of concurrent sentences. The verdict was delivered on July 10, following an investigation into a fraudulent system of Value Added Tax VAT refunds. Dickoumba-De-Diguela, 54, pleaded guilty to 128 counts of fraud and 66 counts of money laundering. The fraudulent VAT refund claims amounted to approximately 67 million rands, while the money laundering operations involved nearly 10 million rands. As the sole manager of Assistance Medicale Internationale CC, he operated a scheme using false medical invoices, claiming his company facilitated healthcare access for foreign nationals in South African medical facilities. These fictitious services were then used to illicitly claim VAT refunds from the South African Revenue Service SARS. The South African National Prosecuting Authority stated that tax offenses not only financially harm the state but also divert resources from essential public services and socio-economic development. The 25-year sentence comprised 15 years for fraud with five suspended and an additional 10 years for money laundering. Under South African law, concurrent sentencing means the longest sentence absorbs the shorter ones, resulting in an effective 10-year imp
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Must ReadA long-standing dispute between Cameroon's Caisse des dépôts et consignations CDEC and the Central African Banking Commission COBAC has escalated from technocratic meetings to academic debate. The conflict centers on COBAC's claim to organize and supervise the sovereign public service of deposits and consignments, a claim solidified by two regulations adopted in July 2025. Richard Evina Obam, Director General of CDEC, offers a legal perspective, countering political scientist Guy Mvelle's concerns about Cameroon's international isolation. Obam argues that COBAC's actions ignore the principle of attribution, disrupt the hierarchy of norms, disregard the principle of parallelism of forms, and incorrectly classify dormant assets as banking operations. He warns that the issue extends beyond Cameroon, potentially discrediting the entire CEMAC region internationally. Obam highlights several critical legal violations. First, he asserts a flagrant violation of the principle of attribution in community law, stating that CEMAC's primary legal texts do not transfer the sovereign public service of deposits and consignments to the community. Second, he points to a manifest transgression of the primacy of primary law over derived law, citing two COBAC-initiated regulations adopted in July 2025 that he claims violate established competency rules. Third, he identifies a serious infringement of the principle of parallelism of forms, arguing that COBAC is attempting to unilaterally modify Arti

Maurel & Prom M&P reported an increase in its oil production in Gabon during the first half of 2026, despite a slight slowdown in activity in the second quarter due to maintenance operations on the Ezanga field. The French group's revenue in Gabon surged by 34% compared to the second half of 2025, driven by rising crude oil prices and progress on its first Gabonese gas project. The Ezanga oil permit, M&P's main asset in Central Africa, continues to support the group's performance in Gabon. M&P's share of oil production, where it holds 80% of the permit, reached 13,896 barrels per day during the first six months of the year, a 1% increase from the second half of 2025. This growth occurred despite a two-day scheduled shutdown for general field maintenance in the second quarter. By July, Ezanga's production reached approximately 17,500 barrels per day at 100%, corresponding to nearly 14,000 barrels daily for M&P's share. Financially, Gabon remains the group's primary revenue source, generating $228 million in the first half of 2026, up from $169 million in the second half of 2025, a 34% increase. Compared to the first half of 2025, the increase was 20%. Maurel & Prom benefited from rising oil prices, with the average selling price per barrel at $103.8, a 53% increase from the second half of 2025, contributing to a consolidated revenue of $366 million, up 27%. Globally, the group's total production, including operations in Venezuela, Angola, Tanzania, and Colombia, was 37,890 bar

The management committee of the Central African Deposit Guarantee Fund Fogadac recently convened in Brazzaville, approving measures to strengthen its governance and operational capabilities. The institution aims to increase its intervention fund to 1 trillion CFA francs by 2036, up from its current 346 billion CFA francs. During this session, Désiré Louzolo Tsoumbou from Gabon was appointed as the permanent secretary, supported by Marcel Ombolo Andela from Cameroon as deputy permanent secretary, both serving three-year renewable terms. Chaired by Yvon Sana Bangui, the Governor of the Bank of Central African States BEAC, the meeting on July 17, 2026, also reviewed the Fund's financial status as of June 30, 2026. Fogadac's intervention reserve reached 345.8 billion CFA francs, with an investment portfolio of 207 billion CFA francs, generating 8.38 billion CFA francs in revenue during the first half of the year. To enhance governance, the committee approved the creation of an investment committee and a new delegation system for signatures on the Fund's accounts to improve security and responsibility separation. The firm Homme & Développement was tasked with developing a modern legal and social framework for human resources management. Additionally, the recruitment process for senior executives is ongoing, with an ad hoc committee set to finalize selections for Risk Manager and IT Manager positions. Established in 2009, Fogadac's mission is to compensate depositors in case of cre