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Business Insider
17 hours ago
- Business
- Business Insider
Gabon secures $3.8 billion Afreximbank pact for Gold, Manganese and energy projects
Gabon has signed a $3.8 billion memorandum of understanding with the African Export-Import Bank (Afreximbank) to fund major national development projects across mining, energy, and transport sectors. Gabon signed a $3.8 billion MoU with Afreximbank to fund development projects. The agreement aims to enhance mining, energy, and transport sectors in Gabon. Most gold production in Gabon is currently unregulated, requiring better oversight. Gabon has signed a $3.8 billion memorandum of understanding with the African Export-Import Bank (Afreximbank) to fund major national development projects across mining, energy, and transport sectors. The agreement, formalized during Afreximbank's annual general meeting in Abuja, Nigeria, aims to support the development of gold and manganese trading, enhance energy infrastructure, and expand the country's railway network. Gabon's gold sector remains heavily informal, with approximately 70% of production coming from unregulated sources. Inadequate infrastructure, particularly poor road networks, continues to hinder the sector's growth. Afreximbank's support for Special Economic Zones (SEZs) and Africa Quality Assurance Centers (AQACs) is expected to bring greater oversight and formalization, though success will depend on stronger enforcement of mining regulations. As the world's second-largest producer of manganese, a vital mineral for steel production, and one of the smallest members of OPEC+, producing around 220,000 barrels of crude oil per day, Gabon is positioning itself to strengthen industrial and export capacity. According to recent data, Gabon's economy expanded by 2.9% in 2024, largely driven by oil production and increased public investment. Minister of State for Economy, Finance and Debt, Henri-Claude Oyima, signed the agreement on behalf of the Gabonese government. However, President Brice Oligui Nguema, has pledged to reduce Gabon's overdependence on oil by prioritizing sectors such as agriculture, tourism, and manufacturing, part of a broader strategy to combat poverty and diversify the economy.
Zawya
18-06-2025
- Business
- Zawya
Gabonese President Brice Oligui Nguema and African Development Bank's (AfDB) Akinwumi Adesina Inaugurate Water Pumping Station for Greater Libreville
'Ten years without clean water: erased! Ten years without hope: forgotten! Ten years of suffering: over!'—Adesina to residents of Libreville's outlying neighborhoods. Adesina Receives Gabon's Highest Civilian Honor Gabonese President Brice Oligui Nguema and African Development Bank Group President Dr. Akinwumi Adesina ( on Monday jointly inaugurated a new drinking water pumping station, marking the end of a decade-long water crisis in PK5, a densely populated district of Libreville. The new PK5 pumping station, with a daily capacity of 57,600 cubic meters, is designed to deliver clean water to 128,000 residents across seven northern districts of the capital. 'These past few weeks, we've finally felt like citizens of real capital. Water is flowing from our taps at last,' said Sandrine Onanga, a 33-year-old mother living in PK5. 'It has been eight years since we last saw a drop of water. We had even forgotten what a tap looked like,' added Astrid Momboukou, who joined the crowd to witness the inauguration of the facility. For years, taps had run dry in parts of Libreville. 'That's all behind us now. No more lugging water jugs for kilometers. No more waiting late into the night for police tankers to deliver water every two or three days,' said Sandrine, smiling under the light rain that fell over Libreville that Monday. The new station was inaugurated in the presence of senior government officials, members of the diplomatic corps, development partners, and an enthusiastic local population. It forms part of the Integrated Drinking Water Supply and Sanitation Program for Libreville (PAIEPAL). The program, with a total investment of €117.4 million, is financed through a €75.4 million loan from the African Development Bank and a €42 million loan from the Africa Growing Together Fund (AGTF), backed by the People's Bank of China and administered by the Bank. The program aims to improve access to potable water and sanitation services in Libreville, strengthen sector governance, and build capacity for long-term transformation. The initiative ensures that more than 300,000 people—approximately 31% of Libreville's 967,095 residents—now have sustainable and permanent access to clean water. The beneficiary communes include Libreville, Akanda, Owendo, and Ntoum. Adesina emphasized the life-changing impact of the new pumping station: 'Ten years without drinking water: erased! Ten years without hope: forgotten! Ten years of suffering: ended!' The Bank, a reliable and strategic partner for Gabon Adesina also highlighted the Bank's unwavering development support for Gabon during his ten-year tenure. 'From 1974 to 2014, the Bank approved $1 billion in financing for Gabon. Since my election in 2015, we have committed an additional $1.5 billion—1.5 times the previous 40-year total,' he said. According to Philippe Tonangoye, Gabon's Minister for Universal Access to Water and Energy, the project has significantly improved water infrastructure. It involved renewing 150 kilometers of pipelines, upgrading and extending another 150 kilometers of distribution networks, building and rehabilitating multiple water towers, and installing around 60 public standpipes across Libreville and surrounding areas. 'The African Development Bank spared no effort to make this program a reality,' said Minister Tonangoye. 'Some of these installations had not seen a single drop of water in ten years. My gratitude goes to the Bank for its commitment to Gabon.' President Adesina receives top Gabonese honor Ahead of the inauguration, Gabonese President Oligui Nguema conferred on Adesina the insignia of Grand Officer of the Order of the Gabonese Merit, one of Gabon's highest civilian honors, in a ceremony witnessed by his wife, Grace Adesina. Recognized for his visionary leadership, Akinwumi Adesina—dubbed 'Africa's Chief Optimist'—will complete his second and final ten-year term as President of the African Development Bank Group on 31 August. Since 2015, he has led transformative projects across Africa under the Bank's five strategic priorities, the 'High 5s' ( Through these priorities, 565 million people have seen their lives transformed. In the water sector alone, 63 million people gained access to clean water and 34 million to sanitation services. Flagship projects in Gabon For decades, the Bank has supported Gabon's socioeconomic development by helping diversify strategic sectors. It is now Gabon's leading infrastructure partner. Among flagship projects, the Bank financed the New Owendo International Port. With a capacity of four million tonnes per year, this multi-purpose port (minerals, timber, containers) has reduced handling costs by 30% and become a critical link in Gabon's logistics chain. In this context, the Gabonese President took Dr. Adesina on a tour of the La Baie des Rois Special Investment Zone, located 18 km from the port. The maritime façade of the Gabonese capital aims to be modern to attract international real estate investors to revitalize the country's economy and create wealth for the population. The Bank is also helping Gabon develop the Kinguélé Aval hydroelectric power station—the country's first energy PPP—which will add 40 megawatts of reliable, affordable, and clean energy. It is also financing the Ndende-Doussala road, a key segment of the Libreville-Brazzaville corridor that will connect Gabon and Congo and boost regional integration. With an active portfolio of $61.26 million, the African Development Bank Group's strategy in Gabon focuses on two priority areas: supporting the development of sustainable infrastructure to drive industrialization, and strengthening economic governance and the business climate to promote social inclusion. Following the inauguration, President Oligui Nguema and Akinwumi Adesina visited two families in separate districts that were once severely impacted by water shortages. They also toured the National School for Hearing-Impaired Children, which serves hundreds of students. Since gaining access to clean drinking water, the school has seen a significant improvement in hygiene conditions. Distributed by APO Group on behalf of African Development Bank Group (AfDB). Dr. Adesina's speech (French) ( Pictures ( Contact: Romaric Ollo Hien Communication and External Relations Department media@ About the African Development Bank Group: The African Development Bank Group (AfDB) is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information:
Zawya
17-06-2025
- Business
- Zawya
Equatorial Guinea's Golden Swan Sets Regional Benchmark for Greener Oil and Gas Practices
The African Energy Chamber (AEC) ( proudly supports the recent visit of Gabonese President Brice Oligui Nguema to Equatorial Guinea's Golden Swan industrial complex, marking a defining moment for Africa's oil and gas sector. As the continent intensifies efforts to industrialize responsibly, Golden Swan – and Equatorial Guinea, under the leadership of President Teodoro Obiang Nguema Mbasogo, whose commitment to sustainable development and environmental stewardship has been instrumental – is demonstrating that environmental protection and energy development can and must go hand in hand. During the visit, President Oligui Nguema and his delegation witnessed first-hand how Equatorial Guinea has achieved self-sufficiency in treating industrial and hazardous waste. Golden Swan's advanced infrastructure includes industrial incinerators, a wastewater treatment plant, a medical waste processing unit and recycling systems for waste oil, plastics, batteries and metals. Presentations showcased the company's household waste system, which reduces landfill use by up to 90% through sorting and recycling, and its production of critical industrial gases like medical oxygen and nitrogen. The Golden Swan model directly addresses one of the most pressing challenges facing Africa's hydrocarbons sector: the management of hazardous and industrial waste generated by upstream and downstream operations. By achieving self-sufficiency in this area, Equatorial Guinea not only protects its ecosystems and communities, but also strengthens its position as a responsible, forward-looking energy producer. The AEC believes that facilities like Golden Swan can serve as blueprints for governments and companies aiming to build energy industries that are both profitable and sustainable. The visit also sets the stage for tangible collaboration between Gabon and Equatorial Guinea, beyond high-level dialogue. Opportunities now exist for technical cooperation, joint ventures and knowledge sharing that could see similar waste management infrastructure developed across the region. The Chamber encourages both governments to formalize this cooperation and take decisive steps to turn this vision into reality. 'This is a defining example of how African oil and gas producers can lead on environmental issues rather than follow,' said NJ Ayuk, Executive Chairman of the African Energy Chamber. 'Golden Swan shows what is possible when governments and industry come together with a clear purpose. It sets the bar higher, and it invites others on the continent to match or exceed that standard. This is good for our industry, good for our people, and good for Africa's future.' Golden Swan's success underscores a broader truth: Africa's energy sector can drive industrialization while respecting the environment. As more nations follow this path, the continent will be better positioned to attract investment, create jobs and ensure long-term sustainability. The AEC welcomes this milestone and encourages all oil and gas stakeholders to build on Golden Swan's example by innovating, collaborating and driving Africa's growth while protecting its natural heritage. Distributed by APO Group on behalf of African Energy Chamber.
Yahoo
03-06-2025
- Business
- Yahoo
Eramet to work with Gabon despite manganese exports ban
Eramet said it will work with the Gabonese Government despite a forthcoming ban on unrefined manganese exports, set to take effect from 1 January 2029. This regulatory change could disrupt operations for the French mining giant, particularly its Gabon-based subsidiary Comilog, currently the world's largest manganese mine. The Gabonese Government's weekend statement regarding the ban aligns with a broader trend of African nations such as Guinea (bauxite) and Zimbabwe (lithium) moving towards local processing of raw materials instead of exporting them, reported Reuters. The demand for manganese is on the rise globally, not only for steel production but also for electric vehicle batteries. In response to the announcement, Eramet acknowledged the Gabonese Government's intentions and expressed its commitment to continue working with the authorities 'in a spirit of constructive partnership and mutual respect'. The company emphasised its goal to protect the jobs of the 10,460 Gabonese employees at Comilog and its railway transport unit, Setrag. Despite an initial 5.5% drop, Eramet's shares later stabilised, trading around 4% lower by 08:00 GMT. Gabon's President, Brice Oligui Nguema, who came to power following a coup in 2023 and was elected last month, is focused on uniting the country and revitalising its struggling economy. While Comilog, partly owned by the Gabonese state, does process some manganese locally, most of its ore is exported. Eramet's growth has been largely driven by the Moanda mine and the Weda Bay nickel mine in Indonesia, in contrast to its traditional nickel operations in New Caledonia, which have been hampered by losses and social issues. The company's recent memorandum of understanding (MOU) with Indonesia's sovereign fund, Danantara, reflects its strategy to explore potential investments in nickel processing, following Indonesia's own nickel ore export ban to foster local industry development. Moreover, Firebird Metals has secured a non-binding MOU with Eramet in February for the supply of manganese ore, which will be utilised in the initial phase of Firebird's planned facility in China to produce battery-grade manganese sulphate and manganese tetra-oxide. "Eramet to work with Gabon despite manganese exports ban" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Reuters
02-06-2025
- Business
- Reuters
France's Eramet says it will work with Gabon despite manganese export ban
PARIS, June 2 (Reuters) - French miner Eramet ( opens new tab, the main shareholder in Gabon-based manganese mining firm Comilog, said it will aim to safeguard the 10,460 Gabonese jobs sustained by Comilog and Comilog railway transport unit Setrag, despite Gabon's announcement of an export ban on manganese starting in 2029. Eramet said it "takes note of the Gabonese government's intention to ban crude manganese exports from January 1st, 2029. This move is described as part of the country's stated ambition to strengthen its industrial base, initiated by H.E. President Brice Clotaire Oligui Nguema and his Government". It said it acknowledged the government's move and, as the main co-shareholder in Comilog, will continue to work with the authorities "in a spirit of constructive partnership and mutual respect". In August 2023, Eramet temporarily halted manganese mining operation following a military coup that ended 56 years of rule by former President Ali Bongo. In April 2025, Gabon's Constitutional Court confirmed that coup leader Brice Oligui Nguema won the oil-rich Central African nation's presidential election. In October 2024, Eramet sharply cut 2024 production targets for its manganese mine in Gabon - the world's biggest - citing a downturn in the manganese market. Eramet's Comilog subsidiary processes some manganese, which is mainly used to produce carbon steel, locally in Gabon but mostly exports its mine production as ore.
