🇬🇦GabonCentral Africa
VAALCO Energy expands long-term incentive program for employees
via Gabon Review2 min read
Shareholders of the American oil group VAALCO Energy have approved the expansion of its long-term incentive program, a decision announced on June 4, 2026, from Libreville. This move aims to further align the interests of employees and executives with the company's performance. The program allows employees and senior managers to receive shares or financial options whose value is tied to the group's stock market performance. This mechanism is designed to ensure that as VAALCO creates value, the potential gains for participants increase. The company, listed on the New York Stock Exchange under the ticker EGY, views this as a strategy focused on human capital, particularly in Gabon, where it has operated for over two decades. George W. M. Maxwell, Chief Executive Officer of VAALCO Energy, stated that employees are the driving force behind their performance and that this program reinforces their commitment to involving everyone, worldwide, in their shared successes. This initiative is part of a broader strategy emphasizing operational excellence, financial discipline, and continuous investment in human capital. In Gabon, where VAALCO has been present since 2002 as the operator of the offshore Étame-Marin field, this decision aligns with its commitments to local content, including the development of Gabonese skills, creation of skilled jobs, technology transfer, and contribution to the country's energy sovereignty. The extension of this incentive program comes as oil operators in G
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Must ReadInvestigations are ongoing into an alleged embezzlement of over 700 million FCFA related to vacation bonuses at Gabon's Ministry of National Education. The public prosecutor, Dick Fabrice Boungou Mickolo, confirmed on Saturday, June 6, 2026, that the financial damage exceeds initial estimates, with twenty individuals currently in police custody. The case originated from a 2025 audit by the Ministry of Economy and Finance, which identified irregularities in the beneficiary list after an abnormal increase in the vacation bonus budget. The fraud scheme reportedly involved creating fictitious budget lines for bonus payments via bank transfers or cash vouchers, primarily benefiting individuals within the Ministry's Central Directorate of Financial Affairs. An agent from this directorate, among those arrested, has implicated the Minister of State for National Education, Camélia Ntoutoume Leclercq, stating that all ministry expenditures bore her approval and that as the principal authorizing officer, she could not have been unaware of the financial movements. These statements are part of the ongoing investigation and will be cross-referenced with judicial inquiries to establish responsibilities and the exact extent of the state's losses.
Gabon will host the 2027 Qwan Ki Do African Championship in Libreville, aiming to promote the martial art across the continent and highlight Gabonese athletes' performances. This decision follows Gabon's success at the 8th Qwan Ki Do World Championship in Romania from May 22 to 24, 2026, where the national team earned one silver and two bronze medals, finishing as vice-world champions. The continental competition will bring together top African teams in Qwan Ki Do, a Sino-Vietnamese martial art that combines unarmed combat, weapon techniques with bladed weapons, and philosophical elements from Taoism. The event will feature strikes, throws, joint locks, and codified forms known as quyens, performed in competition or demonstration. The championship is expected to attract official delegations, coaches, and enthusiasts from various African countries. By hosting this event, Gabon seeks to confirm its growing prominence in Qwan Ki Do and strengthen its position as a host for major sporting events in Africa.
The third edition of Japanim Gabon will take place from July 10 to 12, 2026, at the Baie des Rois in Libreville. The festival, which focuses on Japanese culture, manga, and Asian animation, aims to attract 5,000 participants this year, following over 4,000 visitors at its previous edition. The event will offer a diverse program including creative workshops on drawing, painting, origami, kanji initiation, and kimono fitting. There will also be dedicated spaces for video games, board games, virtual animations, and exhibitions. Highlights include a cosplay contest, dance performances, magic shows, and traditional Japanese flute performances. Japanim Gabon seeks to strengthen cultural ties between Japan and Gabon while promoting local creativity, featuring merchandise inspired by Gabonese manga such as "Zarus" by artist Tag and "Taali et Tsuki" by artist Nero. A raffle will offer items from the OTAKU.N.CO store. Tickets are available at the Baie des Rois boutique and at Gozen, Maxi, and Géant CKdo stores.