Gabon's SEEG investment claims questioned as 1 trillion FCFA figure faces scrutiny
via Gabon Review3 min read
Reports circulating since August 30, 2023, suggest that over 1 trillion FCFA has been invested in Gabon's water and energy company, SEEG. The Democratic Union of Builders UDB reiterated this figure in a recent statement. However, a document reviewed by GabonReview, detailing major water and electricity projects, presents a different picture. The document lists fifteen projects totaling 509 billion FCFA, which is approximately half of the widely cited 1 trillion FCFA. This discrepancy leaves nearly 500 billion FCFA unaccounted for. Furthermore, several projects included in the 509 billion FCFA total predate August 2023. For instance, the Kinguélé Aval hydroelectric dam, costing 118 billion FCFA, dates back to 2021. Other works from 2022 include the Bissegué electrical substation, water boreholes in Libreville, and a water station in Franceville. These older projects amount to 141 billion FCFA. Excluding them, the investment for the post-August 2023 period drops to 368 billion FCFA. A significant portion of this 368 billion FCFA has not yet been spent, as it includes power plants planned for 2026 in Owendo, Libreville, Port-Gentil, and Lambaréné, representing 289 billion FCFA in announced but uncompleted works. If these future projects are removed, the actual expenditure between 2023 and 2025 is approximately 79 billion FCFA, covering items like generator purchases, a water station, and a small gas power plant. While GabonReview acknowledges that the document might not be exhau
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Gabon Review.
Must ReadGabon has moved up in the latest global democracy ranking by the Swedish V-Dem Institute, placing 114th out of 179 countries. While still a low ranking, this marks the first time in years the country has not regressed, instead showing progress. V-Dem has removed Gabon from the list of nations moving away from democracy and now classifies it among the few that are moving closer. The institute's 2026 report highlights Gabon as one of only three countries globally that could soon become progressing democracies, alongside Chad and South Korea. This change is attributed to the elections held in 2025, which saw power transferred to civilians after coups in both Gabon and Chad. This progress is particularly notable given that democracy is losing ground globally, with 12 sub-Saharan African countries, including Burkina Faso, Mali, Niger, and Togo, moving away from democratic principles this year. However, the report cautions that Gabon's democratic recovery is still fragile and needs to be sustained over time, as similar improvements in other countries, like Zambia, have not always lasted.
The second edition of the Gabon Economic Forum is taking place at the Omar Bongo Ondimba Congress Palace, led by Alain-Claude Kouakoua, the newly elected head of the Federation of Gabonese Enterprises FEG. The forum's theme is "Strong businesses for sustainable growth and shared prosperity." Kouakoua, who was unanimously elected on June 12, aims to position the private sector at the heart of economic decisions. The forum is intended to be an annual event bringing together the state, businesses, and development partners. Under the patronage of President Brice Clotaire Oligui Nguema, the 2026 edition seeks to engage business leaders with the National Growth and Development Program PNCD 2026-2030. Minister of Economy Thierry Minko stated that the PNCD requires nearly 27,000 billion CFA francs, with the private sector expected to contribute approximately 18,000 billion, or nearly two-thirds. The first edition, held in July 2025, concluded with three commitments: publishing a summary with a priority action plan, establishing a permanent monitoring mechanism with an annual review, and institutionalizing the forum ahead of budget law preparation, all aimed at achieving at least 10% growth. While the forum has become an annual event, the promised summary, action plan, and monitoring mechanism have not been widely publicized. This second edition is seen as an opportunity for Kouakoua to demonstrate accountability and ensure the forum moves beyond ideas to concrete results.
Must ReadGabon is experiencing a surge in unregulated revival churches, leading to a decade of alleged abuses including financial fraud, sexual assault, and suspicious deaths. Despite recurring scandals, the state has been criticized for its inaction in regulating these organizations. The issue, highlighted by GabonReview since 2013, points to many assemblies operating more as businesses than places of worship, leveraging communication, psychology, and marketing techniques to exploit vulnerable individuals. Recent high-profile cases include the arrest of "prophet" Emmanuel Ndzoma in September 2022 for allegedly impregnating a follower, the incarceration of pastor Jean-Yves Boussougou in October 2023 for repeated sexual assaults on minors, and the suspicious death of a three-year-old child in November 2024 at the Schekina church, leading to the pastor's suspended sentence. Further incidents involve Joël Andy Poungou, leader of the Ministry of all Nations, in February 2026 for indecency and violence, and Georges Olivier Mbazaboua of the VLR church for alleged sexual abuse, fraud, and manipulation. These cases are seen as part of a larger pattern of exploiting human vulnerability, often fueled by the "prosperity theology" which encourages followers to donate with promises of multiplied returns. Critics argue that the lack of legal oversight is a political choice, allowing these groups to proliferate without proper accreditation or control. Calls are being made for mandatory registration,