General Information

Gabon is a member of the Franc Zone via the Economic and Monetary Community of Central Africa (CEMAC) for which the issuing institute is the Bank of Central African States (BEAC). The CFA or XAF franc is linked to the Euro with a parity fix guaranteed by the French Treasury.

Gabon has important natural resources, particularly in petroleum, of which it is the 5th-largest producer in Africa. Since 2015, the economy which is highly dependent on the petroleum sector, has thus been affected by the drop in petroleum prices but should benefit from the increase since the summer of 2021. It should be noted that the country will enter a pre-electoral period where Ali BONGO, the current President and greatly reduced since a stroke, will be a candidate for his succession.

Non-petroleum sectors such as the mining sector (manganese), agrifood, and wood will need to occupy a growing position in the country’s economy.

Means of Payment & Banking Specificities

We recommend the use of a confirmed documentary credit payable upon receipt or in a maximum of 60 days.
Payment delays are frequent if transactions have not been secured.
It is recommended to negotiate a deposit if exchange regulations allow it.
The best billing currency for trade remains the Euro.