Since the transition period began in August 2023, the Burkinabè construction giant EBOMAF has surged to the forefront of Gabon’s public procurement landscape. Within less than three years, the company led by businessman Mahamadou Bonkoungou has secured contracts exceeding 700 billion Central African CFA francs, a scale unmatched by any single foreign operator in the country. Its portfolio now includes critical road networks, the Andem airport expansion, and the ambitious Libreville 2 administrative capital project—key infrastructure initiatives spearheaded under the leadership of transitional President Brice Clotaire Oligui Nguema.
Dominance in Gabon’s public infrastructure sector
The rapid accumulation of contracts raises questions not only about volume but also about the pace of selection. Each presidential announcement regarding major infrastructure developments appears to funnel toward the same contractor, with limited public disclosure on competitive bidding processes. EBOMAF’s projects span hundreds of kilometers of roadways, alongside significant airport infrastructure and a large-scale urban development aimed at easing congestion in Libreville.
Such concentration of contracts in the hands of one operator introduces a familiar concern in public finance: the risk of over-reliance on a single entity. When a group takes charge of design, execution, and sometimes pre-financing for multiple projects, the government’s financial flexibility diminishes. Gabon, already facing declining oil revenues and elevated external debt monitored closely by international financial institutions, must carefully assess these commitments.
Gaps in financial transparency raise concerns
The 700 billion CFA franc figure, cited by EBOMAF, has not been independently verified or consolidated by Gabonese authorities. The Ministries of Public Works, Public Accounts, and the Audit Court have yet to release a comprehensive breakdown of the state’s contractual obligations to the company. The lack of a unified financial dashboard obscures the flow of funds—whether direct payments from state resources, bank pre-financing, or potential compensation mechanisms.
This opacity fuels doubts about treasury management. Which bodies approve financial statements? Which financial institutions process the transactions? What sovereign guarantees secure the pre-financing arrangements? In line with transparency standards set by the International Monetary Fund and the African Development Bank, regular public reporting on contractual commitments and disbursements is expected. Yet, the current institutional silence contrasts sharply with the high-profile ribbon-cutting ceremonies for completed projects.
Assessing EBOMAF’s integrated financing model
EBOMAF has built its regional reputation on an integrated model combining technical execution with bank pre-financing, often backed by West African financial institutions. This approach offers clear benefits for cash-strapped governments: it enables swift project launches without immediate strain on fiscal resources. However, it shifts repayment obligations to future budgets, with costs heavily dependent on negotiated financial terms.
The model has enabled EBOMAF’s sustained presence in Burkina Faso, Côte d’Ivoire, Togo, and Senegal. Yet, it has also sparked recurring debates over applied interest rates, potential cost overruns, and the quality of delivered infrastructure. Applying this model extensively in Gabon—within the context of a transitional political environment—demands a thorough review of financial clauses and oversight mechanisms.
For Gabon’s international partners, the stakes extend beyond operational performance. The credibility of the transitional government’s fiscal trajectory and the long-term sustainability of its debt service post-elections are at risk. Publishing a consolidated report on EBOMAF-related commitments would send a strong signal of transparency, particularly as multilateral lenders reassess their exposure to Gabon’s sovereign risk.
Equally significant is the impact on Gabon’s local construction ecosystem. Domestic firms, often limited to subcontracting roles, struggle to scale up due to limited access to major contracts. The question of who oversees EBOMAF’s financial operations within Gabon remains unresolved.
