Moody's revises Gabon's credit outlook to negative amid public debt concerns
via Gabon Review2 min read
Moody's, the rating agency, announced on June 24 that it has revised Gabon's credit outlook from "stable" to "negative," while maintaining the sovereign rating at "Caa2." This decision reflects growing concerns about the sustainability of Gabon's public debt, citing a constrained financial environment, high financing needs, limited access to international markets, and uncertainties regarding the state's financial commitments. Moody's highlighted that pressure on state finances is increasing, warning that potential debt restructuring could be viewed as distressed operations, possibly leading to a default. The agency projects that budget deficits will remain high in the medium term, with gross financing needs estimated between 15% and 20% of GDP in the coming years. Public debt could reach nearly 88% of GDP in the medium term, and the rising cost of debt service would further limit the government's ability to fund public policies. Moody's also considered the ongoing audit of public borrowings by Gabonese authorities. While this audit aims to improve transparency, Moody's believes it could also reveal undeclared liabilities, potentially worsening risk perception. The country has already explored various financing solutions due to liquidity tensions, with borrowing costs remaining high and increasing reliance on alternative and regional financing. This situation raises concerns about Gabon's capacity to meet future obligations, especially with major bond maturities approaching fr
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Must ReadA Gabonese content creator, SW Decrypte, highlights the geopolitical battle surrounding Eramet and Gabon's manganese. Eramet, a long-standing partner of the Gabonese state, faces significant financial difficulties, including a net loss of 477 million euros in 2025, the dismissal of its CEO, and an urgent need to raise 500 million euros. This situation has attracted interest from global powers like Washington and Abu Dhabi, who are keen on securing access to Moanda's manganese, especially as the Duval family, a major shareholder, considers selling its stake. The tiktoker emphasizes that these powers are primarily interested in the mineral access rather than Eramet itself, positioning Gabon's manganese as a geostrategic asset in the face of Chinese dominance in critical minerals. Gabon holds a significant stake in Comilog, giving it leverage. However, the country's ambition for local processing by 2029 faces a major hurdle: a substantial energy deficit. Transforming manganese locally would require massive investments in infrastructure, raising questions about whether new shareholders would be willing to fund such costly endeavors when their primary interest is securing raw material supply. The issue is expected to be a key topic during President Oligui Nguema's state visit to France on July 20, underscoring the sensitive nature of the dossier for Gabonese authorities.
The eGabon-SIS project has officially concluded, marking a new phase in Gabon's digital transformation of its healthcare system. Launched ten years ago with support from the World Bank, the program has established a more connected health network and deployed digital tools in several health facilities. The project's closing ceremony was presided over by government Vice-President Hermann Immongault on June 24, 2026, with the World Bank representative also in attendance. Key achievements of eGabon-SIS include the deployment of a Health Information System in 13 pilot civilian and military hospitals, the introduction of computerized patient records, and the development of telemedicine in 31 localities. The project also focused on strengthening the capacities of healthcare personnel. These advancements aim to improve patient care, medical information traceability, diagnostic speed, continuity of care, and overall service quality. Minister of Health, Elsa Joséphine Nkana Ayo épouse Bivigou, emphasized that the administrative closure of the project is not an end but an opening to a phase of consolidation and continuous improvement. The focus now is on maintaining infrastructure, enhancing user skills, ensuring data cybersecurity, and extending digital transformation benefits nationwide. The World Bank resident representative, Aïssatou Diallo, noted Gabon's ambition, supported by 51.5 million euros in funding, and reaffirmed the World Bank's commitment to supporting Gabon's efforts. H
Two prominent figures in Gabonese cinema, Serge Abessolo, Director General of the Gabonese Institute of Image and Sound IGIS, and Imunga Ivanga, former Director of IGIS and current Director General of AGATOUR, traveled to Yaounde to attend the funeral of Bassek Ba Kobhio. Kobhio, a filmmaker, writer, and founder of the Écrans Noirs Festival, passed away at 69. The Gabonese delegation presented themselves as ambassadors, paying tribute to a shared cinematic heritage between Gabon and Cameroon. The tributes took place from June 23 to 27, 2026, with vigils in Yaounde, a body viewing at the General Hospital, and transfer to the family home before the burial in Nindjé, Kobhio's native village. The delegation emphasized their presence as a sign of fraternity, not just protocol, acknowledging Kobhio's three-decade-long influence on Gabonese filmmakers. Serge Abessolo described Kobhio as a "generous, visionary man" deeply committed to African cinema, whose work remains an inspiration. Imunga Ivanga recounted how Kobhio provided crucial support and trust early in his career, recognizing his potential. Ivanga characterized Kobhio as "not just a filmmaker," but "a man of vision, a facilitator, a unifier." The attendance of Abessolo and Ivanga at the funeral underscored the Gabonese cinema community's recognition of its debt to Kobhio, who opened his sets and offered his trust to many over the years.