Financial Regulatory Bodies in Gabon: Banking Sector on the Road to Recovery Despite Macroeconomic Headwinds

The banking sector in Gabon is characterized by a high level of concentration, with only one privately-owned local player holding significant sway. However, African banking groups have been rapidly expanding their market share.

Challenges Facing the Sector

Last year, lending plummeted and distressed debt levels soared due to macroeconomic headwinds. The country’s economy is heavily reliant on the international price of oil, which has had a negative impact on the sector.

Signs of Recovery

Despite these challenges, the sector showed signs of recovery in early 2016. The government’s efforts to reform public banks should help stabilize the industry in the long term.

Long-term Plans for Improvement

Government plans for a new payment incidents registry and credit bureau are expected to boost the sophistication of payment methods and credit provision in the years ahead.

Key Interviews

We spoke with three key figures in Gabon’s financial regulatory bodies:

• Claude Ayo-Iguendha, Director-General of BICIG
• Abdelaziz Yaaqoubi, Director-General of UGB
• Séverin Anguilé, President of the Federation of Gabonese Insurance Companies

These experts provide valuable insights into the current state and future prospects of Gabon’s banking sector.