AGP Executive Report
Last update: 6 hours agoFuel and Cost of Living: Gabon spent 30 billion FCFA stabilizing fuel prices in September as shortages persisted. President Oligui Nguema has asked officials to review the costly system, but no pump-price increase has been announced; supply is expected to recover gradually. Currency: From November 1, five older CFA franc coin series will no longer be legal tender across CEMAC, including Gabon. Holders will have a year to exchange them, though the locations and procedures are still to be set. Maritime Security: Gabon has ordered 15 warships from Ocea to protect its waters, prompting questions about the fleet’s cost and ability to secure the country’s maritime zone. Separately, the sanctioned Russian vessel PATRIA made a brief call at Owendo before sailing to Douala; its cargo remains undisclosed. Oil and Credit: VAALCO has completed a Gabon drilling campaign and is moving to its next phase at Baobab. Moody’s, meanwhile, kept Gabon among the region’s four negative-outlook sovereigns, citing challenges controlling spending and projecting one of the sharpest debt increases.
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