“Gabon is an upper-middle-income country. The fifth largest oil producer in Africa, it has had strong economic growth over the past decade, driven by its production of oil and manganese. The oil sector has accounted for 80% of exports, 45% of GDP, and 60% of fiscal revenue on average over the past five years. However, as the country is facing a decline in its oil reserves, the Gabonese government has decided to diversify its economy.” World Bank

Digital Access

Internet access is about 62% and mobile phone penetration is over a 100%.

The World Bank has reported severe lending problems in Gabon with mainly friends and family being used for lending purposes (88 percent). 

Gabon is part of the Central African Economic and Monetary Community (CEMAC) which also has monetary policy governed by the BEAC.

The unbanked figure is about 40%. 

Gabon is rich in natural resources, including oil, but Gabon has suffered poor financial performance especially since 2015. 

There are attempts to digitize more of Gabon which is dependent on mobile access in many areas. 

CBDCs can provide benefits especially for social inclusion programs. There is more infrastructure to provide before this can be done.

   

 

 

By cryptorocks_editor

Editor.