Gabon to release 20 billion CFA francs for forest-wood sector VAT arrears
President Brice Clotaire Oligui Nguema has instructed the payment of 20 billion CFA francs in VAT arrears owed to forest companies, aiming to clear part of the state's domestic debt. This measure, announced after a meeting with the Minister of Water and Forests, Maurice Ntossui Allogho, and key industry operators, seeks to help businesses restore their cash flow. The President emphasized that paying debts enriches the payer, intending to provide companies with the financial capacity to resume and develop their activities. Discussions also covered improving the business climate, preserving jobs, strengthening local processing, and increasing national wood consumption. The President also urged relevant administrations to identify new commercial opportunities, particularly in sub-regional and continental markets, to reduce reliance on certain international markets and enhance the value of Gabonese wood. The forest-wood sector is Gabon's primary private employer, supporting over 15,000 direct and indirect jobs. Jean-Marie Ntoutoume, General Delegate of the Union of Foresters and Industrialists of Gabon UFIGA, welcomed the presidential directives. Industry professionals will collaborate with the Ministry of Economy, the Ministry of Water and Forests, and the General Directorate of the National Wood Company of Gabon SNBG to implement these measures and explore new markets. These instructions aim to provide immediate financial support and lay the groundwork for a more structural rec
