Since the political transition began in August 2023, the Burkinabè construction giant Ebomaf has risen to become Gabon’s top public contractor. In under three years, the company founded by businessman Mahamadou Bonkoungou has secured contracts worth over 700 billion Central African CFA francs, an unprecedented volume for a single foreign operator in the country. Major projects include key road networks, the Andem Airport expansion, and the ambitious Libreville 2 administrative capital project—all flagship initiatives led by Gabon’s transitional leader, Brice Clotaire Oligui Nguema.
The rise of a dominant player in Gabon’s public procurement
The rapid accumulation of contracts raises questions about both the pace and scale of Ebomaf’s involvement. Nearly every infrastructure announcement tied to the presidency has named the same contractor, with little public detail on competitive bidding processes. Projects awarded to Ebomaf span hundreds of kilometers of roadworks, alongside airport upgrades and a sprawling urban development meant to ease congestion in Libreville.
This concentration of contracts introduces a familiar concern in public finance: the risk of over-reliance on a single operator. When one company handles the design, execution, and sometimes even pre-financing of multiple projects, the state’s negotiating power diminishes. Gabon, facing declining oil revenues and mounting external debt monitored closely by international financial institutions, must tread carefully.
Budget transparency under scrutiny as Ebomaf’s contracts grow
The 700 billion FCFA figure, cited by Ebomaf itself, lacks official verification from Gabonese authorities. Neither the Ministry of Public Works, the Ministry of Public Accounts, nor the national audit office has released a consolidated breakdown of the state’s contractual obligations to the company. Without a unified financial dashboard, tracking real cash flows—whether direct payments, bank pre-financing, or compensation mechanisms—becomes nearly impossible.
This opacity fuels concerns over treasury management. Who approves the final cost estimates? Which financial institutions handle the transactions? What sovereign guarantees have been issued to secure pre-financing? These are critical questions that, according to IMF and African Development Bank governance standards, require regular disclosure of commitments and disbursements. Yet, institutional silence contrasts sharply with the frequent media coverage of ribbon-cuttings and grand openings.
Examining the risks of Ebomaf’s pre-financing model
Ebomaf has built its regional reputation on an integrated model combining project execution with bank-backed pre-financing, often secured through West African lenders. While this approach allows cash-strapped governments to kickstart construction without immediate budget strain, it shifts repayment obligations to future fiscal years—with costs heavily dependent on negotiated terms.
The model has enabled Ebomaf to establish a foothold in Burkina Faso, Côte d’Ivoire, Togo, and Senegal, though it has also sparked recurring debates over interest rates, potential cost overruns, and the quality of delivered infrastructure. Implementing this strategy on such a large scale in Gabon—amidst a transitional political climate—demands a rigorous review of financial clauses and oversight mechanisms.
For Gabon’s financial partners, the stakes extend beyond project execution. They touch on the credibility of the transitional government’s fiscal trajectory and the long-term sustainability of debt servicing post-elections. Publishing a consolidated report on Ebomaf-related commitments would send a strong signal of transparency, especially as multilateral lenders reassess their exposure to Gabon’s sovereign risk.
Meanwhile, the concentration of major projects in the hands of a single operator raises concerns for Gabon’s domestic construction sector. Local firms, often relegated to subcontracting roles, struggle to advance their capabilities due to limited access to high-value contracts.
Unanswered questions linger over financial oversight
Key uncertainties remain unresolved: Who audits Ebomaf’s accounts in Gabon? How are financial flows reconciled between public coffers, banking partners, and the contractor? Without clearer disclosures, stakeholders—from investors to civil society—are left speculating about the true cost and risk profile of these massive infrastructure deals.