Latest news with #Oligui
Time of India
4 days ago
- Business
- Time of India
Gabon to ban export of raw manganese from 2029
LIBREVILLE: Gabon will cease exporting manganese from 2029 as part of a plan to transform national industry, President Brice Oligui Nguema said in a government statement published on Saturday. Selling manganese, which can be used in the production of stainless steel and batteries, is one of Gabon's main sources of revenue, alongside wood and oil sales. Speaking on Friday to the council of ministers, Oligui ordered "the formal ban... from January 1, 2029, of the export of raw manganese, a strategic resource of which Gabon is the second largest producer in the world," the government statement said. The move in the country of 2.3 million people, one of the richest in Africa, aims at developing "an ambitious industrial policy based on the local transformation of primary materials, an increase in the national workforce's competence, the mastering of technological value chains and the consolidation of tax revenues", the statement added. Oligui, a putschist leader who overthrew the Bongo family dynasty before winning elections in April with almost 95 percent of the vote, said he was giving the sector three years to make the necessary investments for the change. That will also involve the setting up of a public-private investment fund to support the industry, the statement added. During the council of ministers meeting, it was also decided to ban the import of chicken meat from January 1, 2027. Despite the country's riches, a third of Gabonese live in poverty with one in 10 suffering from a lack of food.
eNCA
06-05-2025
- Business
- eNCA
Gabon's new president faces tough economic challenges
LIBREVILLE - Big challenges await Gabon's new president Brice Clotaire Oligui Nguema as he takes the reins of a country rich in oil but struggling with debt. The general was sworn in on Saturday after winning 94.85 percent in the April 12 vote in which international observers signalled no major irregularities. His victory followed a 19-month transition after he took power in a coup in August 2023 that ended the 55-year rule of the Bongo dynasty. Following his inauguration in front of around 40,000 people at a stadium near the capital Libreville, Oligui enjoys strong popularity as he begins his term but faces high expectations of economic and social reform. The new 50-year-old president said he measured "with gravity, the immensity of the burden that falls upon him". He campaigned on six "pillars": reform of the water and electricity sector, youth employment through business promotion, housing and transport, social justice and human capital, sustainable development and governance reform. Among the pressing issues is the electrical grid, managed by the public company SEEG, which suffers regular failures due to a lack of investment. Gabon suffers a glaring lack of infrastructure: it has a "highway directorate" but no highways. Despite successive building plans, only 2,000 of its 10,000 kilometres of roads are usable, according to official data. The new head of state has cast himself as a "builder", proudly launching or relaunching numerous construction projects, particularly in Libreville. Campaign posters pictured him wearing a builder's hard hat and public television regularly broadcasts images of buildings under construction. Among the major projects promised during the campaign was a new north-south railway line linking the deep-water port of Mayumba and the Booue hydroelectric dam. Faced with the depletion of its oil resources, Gabon needs to diversify its economy. "There is still dependence on oil," said Francois Gaulme, an associate researcher at the French Institute of International Relations (IFRI). "The economy needs to be diversified, and this has never been done on a large scale." Although oil extraction, the bedrock of the economy, has generated billions of annual profits since the first drilling in the 1950s, Gabon's debt has swelled. From 72 percent of GDP in 2023, it rose to 73 percent in 2024 and is projected to hit 80 percent this year. Oligui pledged in his speech to work with the International Monetary Fund and the World Bank "to better repay our external debt".
Arab News
03-05-2025
- Politics
- Arab News
Gabon swears in ex-junta chief Oligui as president
AKANDA, Gabon: Gabon began swearing in on Saturday President-elect Brice Oligui Nguema, who led a coup ending decades of Bongo family rule and swept polls last month with nearly 95 percent of the vote. The general and former junta leader, who toppled Ali Bongo in August 2023, ending 55 years of dynastic rule by the Bongo family, officially takes the presidential reins after leading a 19-month transition government. Some 20 African heads of state arrived for the inauguration ceremony at a stadium north of the capital, Libreville, while supporters decked out in T-shirts and flags bearing Oligui's likeness packed out the 40,000-capacity venue. Some 20 African heads of state arrived for the inauguration ceremony at a stadium north of the capital, Libreville. Leaders in attendance include Gambia's Adama Barrow, Senegal's Bassirou Diomaye Faye, Djibouti's Ismail Omar Guelleh, and Teodoro Obiang Nguema Mbasogo from Equatorial Guinea. The Democratic Republic of Congo's president, Felix Tshisekedi, likewise entered around midday. Tickets were free to attend the investiture at the Angondje stadium, built to honor the friendship between Gabon and China. It marks the country's first swearing-in ceremony for such a large audience. From the morning, the roads of the capital, Libreville, and around the Angondje stadium were clogged with traffic, AFP journalists saw. On the program for the ceremony was a series of artistic performances and a military parade, according to state media, which will be followed by a 'victory concert' on the Libreville waterfront in the evening. In the lead-up, hundreds of workers have been painstakingly cleaning and repainting areas around the main roads leading to the stadium. Authorities and official media have called for people to be public-spirited because of the influx of foreign guests. 'All citizens of Greater Libreville are asked to extend a warm welcome to these distinguished guests,' the Interior Ministry said in a statement. It called on residents near the stadium to 'take part in cleaning and beautifying' the area. Oligui, 50, faces serious challenges in leading the oil-rich country, which needs to revamp crucial infrastructure and diversify its economy, but is heavily indebted. The main concerns are an aging electricity network, which suffers frequent power cuts, youth unemployment that hovers at 40 percent, poor or lacking roads, and a ballooning public debt, forecast to hit 80 percent of GDP this year. During the transition, Oligui portrayed himself as a 'builder,' launching numerous construction projects, while vowing to 'crack down' on corruption to get the country back on track.
Yahoo
03-05-2025
- Politics
- Yahoo
Gabon ex-junta chief Oligui sworn in after election win
Gabon's Brice Oligui Nguema, whose coup ended 55 years of rule by the Bongo family, took oath as president on Saturday before a packed stadium and more than a dozen African leaders. The former junta leader, who won nearly 95 percent of the vote in last month's election, was sworn in for a seven-year term after 19 months of military rule since he toppled Ali Bongo in August 2023. Sixteen African heads of state had arrived for the inauguration ceremony at a stadium north of the capital Libreville, with supporters decked out in T-shirts and flags bearing Oligui's likeness packing the 40,000-capacity venue. Oligui, 50, entered the stadium on the back of a white, open-roof car at around 1:30 pm (1230 GMT), having eschewed his general's uniform in favour of a dark civilian suit with a red sash across his chest. Leaders in attendance included Gambia's Adama Barrow, Senegal's Bassirou Diomaye Faye, Djibouti's Ismail Omar Guelleh and Teodoro Obiang Nguema Mbasogo from Equatorial Guinea. The Democratic Republic of Congo's President Felix Tshisekedi likewise made his entrance around midday, followed by Rwanda's Paul Kagame. Tickets were free to attend the investiture at the Angondje stadium, and spectators waited much of the day in a festive atmosphere for the stands to fill up. It was the first time the country held a presidential inauguration ceremony in front of such a large audience. - Challenges ahead - From the morning the roads of the capital Libreville and around the Angondje stadium were clogged with traffic, AFP journalists saw. In the lead-up, hundreds of workers had been painstakingly cleaning and repainting areas around the main roads leading to the stadium. Before a full return to constitutional order, Gabon still has to set up legislative elections, which, Oligui announced Saturday, would take place in the autumn. "From now on, Gabon is a full member of democratic states and will forever be a model of successful transition," said Central African Republic's President Faustin Archange Touadera. Oligui faces serious challenges in leading the oil-rich country, which needs to revamp crucial infrastructure and diversify its economy but is heavily indebted. Among the main concerns are an ageing electricity network that suffers frequent power cuts, youth unemployment that hovers at 40 percent, poor or lacking roads, and a ballooning public debt that is forecast to hit 80 percent of GDP this year. During the transition, Oligui portrayed himself as a "builder", launching numerous construction projects while vowing to "crack down" on corruption to get the country back on track. bur-emp/djt/js
Int'l Business Times
03-05-2025
- Politics
- Int'l Business Times
Gabon Ex-junta Chief Oligui Sworn In After Election Win
Gabon's Brice Oligui Nguema, whose coup ended 55 years of rule by the Bongo family, took oath as president on Saturday before a packed stadium and more than a dozen African leaders. The former junta leader, who won nearly 95 percent of the vote in last month's election, was sworn in for a seven-year term after 19 months of military rule since he toppled Ali Bongo in August 2023. Sixteen African heads of state had arrived for the inauguration ceremony at a stadium north of the capital Libreville, with supporters decked out in T-shirts and flags bearing Oligui's likeness packing the 40,000-capacity venue. Oligui, 50, entered the stadium on the back of a white, open-roof car at around 1:30 pm (1230 GMT), having eschewed his general's uniform in favour of a dark civilian suit with a red sash across his chest. Leaders in attendance included Gambia's Adama Barrow, Senegal's Bassirou Diomaye Faye, Djibouti's Ismail Omar Guelleh and Teodoro Obiang Nguema Mbasogo from Equatorial Guinea. The Democratic Republic of Congo's President Felix Tshisekedi likewise made his entrance around midday, followed by Rwanda's Paul Kagame. Tickets were free to attend the investiture at the Angondje stadium, and spectators waited much of the day in a festive atmosphere for the stands to fill up. It was the first time the country held a presidential inauguration ceremony in front of such a large audience. From the morning the roads of the capital Libreville and around the Angondje stadium were clogged with traffic, AFP journalists saw. In the lead-up, hundreds of workers had been painstakingly cleaning and repainting areas around the main roads leading to the stadium. Before a full return to constitutional order, Gabon still has to set up legislative elections, which, Oligui announced Saturday, would take place in the autumn. "From now on, Gabon is a full member of democratic states and will forever be a model of successful transition," said Central African Republic's President Faustin Archange Touadera. Among the main concerns are an ageing electricity network that suffers frequent power cuts, youth unemployment that hovers at 40 percent, poor or lacking roads, and a ballooning public debt that is forecast to hit 80 percent of GDP this year. During the transition, Oligui portrayed himself as a "builder", launching numerous construction projects while vowing to "crack down" on corruption to get the country back on track. Brice Oligui Nguema, 50, has portrayed himself as a 'builder' while vowing to 'crack down' on corruption AFP
