In response to international demands, Gabon is undertaking an unprecedented approach to transparency in the management of its extractive resources. The country is committed to making public contracts and permits in the oil, mining and forestry sectors. What are the challenges and benefits for the transitional government?
Gabon is taking a decisive step towards greater transparency in the management of its extractive resources. In accordance with the requirements of the International Monetary Fund (IMF) and the Extractive Industries Transparency Initiative (EITI), the President of the Transition, General Brice Clotaire Oligui Nguema, has ordered the publication of contracts and permits in the oil, mining and forestry sectors. This initiative marks a significant turning point in the country’s natural resource management policy.
During a meeting held on July 10, 2024, the Minister of Economy and Investments, Mays Mouissi, and the Minister of Oil and Gas, Marcel Abeke, discussed the modalities of this publication. The main objective is to guarantee transparency, strengthen citizens’ trust and ensure that the conditions of contracts with companies are fair and equitable. At the end of this working session, it was decided that future publications would be accompanied by measures to ensure their accessibility and understanding by the general public.
For the Transitional Government, this decision is doubly beneficial. On the one hand, it responds to the pressing demands of the IMF, necessary for the maintenance and improvement of international financial relations. On the other hand, it helps to solidify the confidence of the Gabonese people in their leaders. By adopting this transparent approach, Gabon positions itself favorably on the international scene, potentially attracting more foreign investment.
The publication of extractive contracts has several advantages. It allows for better management of the revenues generated by these industries and guarantees their effective use for the development of the country. In addition, this transparency strengthens the accountability of stakeholders, ensuring rigorous monitoring of the execution of contracts. In the long term, this could improve the living conditions of Gabonese citizens by promoting a more equitable distribution of resources.
However, this initiative is not without challenges. The main obstacle lies in reconciling transparency and the protection of sensitive information. Companies may be reluctant to have their contracts published, fearing competitive implications. In addition, the government will need to develop technical and administrative capacities to effectively manage this transparency, coordinate the different ministries involved and set up a sustainable monitoring system.
The publication of extractive contracts by the transitional government is a major step towards better governance of natural resources in Gabon. By embarking on this path, Gabon is equipping itself with the tools necessary to ensure more equitable and sustainable management of its natural resources.
